It was a bloody Monday in equity land, the SPX printing 5664, if bouncing to settle -155pts (2.7%) to 5614.
sp’weekly1b
Summary
SPX: new week… new cycle low. In a subsequent bounce, the weekly 10MA (5945… and falling) will act as another barrier/wall.
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The m/t bearish scenario…
SPX, daily3
S/t bearish to 5400, with a bounce to the 200 and/or 50dma. I’d note the 50% fib’… offering 5775. More broadly… 4500 is looking realistic…
We’ve a decisive break of m/t trend. At the current rate, monthly momentum will turn negative as of April 1st.
… as the computer is now seeking a more bearish target of 5051 (top left number. The red number is skewed, due to the scale).
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Looking ahead
Tuesday will see NFIB optimism, JOLTS
Earnings: $KSS $DKS $VIK $CIEN $UNFI $FERG $BWAY $FCEL $LEGN $CMT $SMSI $MXCT $HRTG $VTS $BWMN $CASY $GRPN $FOA $WEST $SSP
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Final note
*I’ve not watched. Armstrong speaking with Brenier.
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*I’ve not watched. Ohh, and to be clear, anyone using the C word for the markets right now, needs to be largely dismissed as hysterical, or just posting click-bait post titles.
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*I’ve not watched. Lin with guest Berg.
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‘Trump MUST exit NATO Instantly. Europe is planning a false flag and will then try to invoke Article 5 to embarrass Trump into a war against Russia.’ – Armstrong.
I agree. The USA must not let itself be dragged into supporting a war with Russia, not least via a false flag.
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Top tier geo-political chatter
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Dore on the UK Govt’, warning about higher cancer deaths.
Whilst the Herr Starmer regime claims it doesn’t know the cause, its clear the mRNA shots are a primary reason. There are other reasons though, not least toxic food… something that RFK Jr will be pushing against across the next few years.
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The Carlson with the Cuomo… the latter of whom I can’t stand. That is the guy who funneled the C19-infected into retirement homes, who duly infected everyone else, killing tens of thousands in NYC. That guy, right?
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Minor note…
Yours truly remains relatively ‘minimal’ on X.
I’ve other priorities.
Tonight’s distraction from the horror of my reality, should be via resuming ‘Better Call Saul’.
Goodnight from London