It was a turbulent Tuesday, the SPX starting very positive to 5267, but swinging very powerfully lower to 4910, and settling -79pts (1.6%) to 4982.
sp’weekly1b
Summary
SPX: it was indeed a pretty wild Tuesday… seeing early powerful gains to 5267 (21pts above the Monday high), but a latter day spiral to 4910… just 75pts above the Monday low. Weekly momentum is on the EXTREMELY low side, as we’re due a multi-week bounce. Prime target is the 200dma… currently in the mid 5700s.
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Looking ahead
Wednesday will see Wholesale invent’, EIA Pet’, FOMC mins (2pm)
Earnings: $DAL $SMPL $NEOG $THTX $STZ $LAKE $PSMT $RELL $TBBB
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Final note
*I’ve not watched. I would agree $100 silver is an eventuality. The problem would be a bearish equity/capital market… at least into October.
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*I’ve not watched. I’d merely note… a ‘collapse’ to SPX 3500, would (as Karl Denniger just recently highlighted) merely test the long term trend from 2009.
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*I’ve not watched, but it might interest some of you.
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The Armstrong on Tariffs
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Geo-political chatter
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The dissolution of the UK
I’m a minority in my own capital city. Whenever I go out, its a novelty just to hear someone else speak English. I live in ‘Barnet’, bordering with ‘Brent’. In my particular street, its roughly 10% white.
…. since 2021, we can knock off another 2-4%
… 2023… another 2yrs, and the disparity is ever wider, as the migrants are out-breeding the indigenous.
One of the grander trends is that I expect London to become an Islamic City-State, a breakaway country, that will declare independence from the UK within 15-25yrs.
In many ways, I’ll hope I’ll be long dead before that event. I’ve endured enough, from what is a physically, psychologically, and spiritual sick populace… where 12,000 a year are being jailed for ‘mean tweets’.
Meanwhile, Herr Starmer… or ‘dear leader’ is focused on banning gasoline vehicle sales by 2030, pushing a ‘Digital ID’, and another round of higher taxes.
Anyone who can afford to leave… has already left. The rest are either too poor to escape, or aren’t willing to break away from friends/family.
Knowing the wretched culture, within which I find myself, is effectively destroying itself… is darkly pleasing. As I’ve long said… an inherently cancerous society will (one way or another) destroy itself.
At least I got to experience the greatest of decades… the 1980s. Its been an increasing personal nightmare since around 2005. Frankly, I’m amazed I’ve lasted this long.
Yours truly is burnt out. Hell, last night, I slept for eleven hours, lacking the energy to even watch another episode of Better Call Saul.
Goodnight from London