It was just another bullish day in equity land, the SPX printing a new hist’ high of 6480, and settling +20pts (0.3%) at 6466.
sp’weekly1b
Summary
SPX: as things are, we’re net higher for the week by +77pts (1.2%). Weekly momentum is back to flat-lining on the high side, if still prone to turning negative mid/late Sept’.
Having gone up a little, the fib’ retrace has been dragged upward. The 50% now intersects with red gap.
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Stock of the day
LEU, daily
Along with a number of other companies… Centrus Energy is taking advantage of a very strong market, raising $650M via convert’ corp’ debt.
The stock was already broken before today’s news. The $150s look pretty easy. The most natural washout target is the double top in the $120s, as looks realistic this October.
Personally, I’m looking to pick up SMR, which raised $500M via a stock offering on Monday.
Its s/t cyclically very low, but the $25s, even psy’ $20 look probably into the Fall.
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Looking ahead
Thursday will see PPI, weekly jobs
Earnings: $AG $JD $DE $AMCR $CAN $NICE $AAP $BIRK $WB $XXII $AMAT $NU $KULR $TMC $SNDK $GAMB $GLOB $PPSI $DARE $STRT
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Final note
‘Zelensky, I am told, is wiring $50 million every month with his backers to secret accounts now in the UAE. ‘ – Armstrong.
Regardless, I will hope Trump, Putin, and maybe Z’ can agree on something.
I won’t hold my breath on that though.
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*I’ve not watched… but it might be interesting, ahead of the Friday event.
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I never liked phones. It was only just a few years ago I bought my first smart one… a Samsung S21. Its almost impossible to exist without one… not least for two factor authentication for some websites. I really hate the latter, which is mostly for the dumb sheep, who can’t be bothered to have complicated passwords.
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If anything, it was a joy to see them match the fonts, sets, sounds and general style of the original Alien (1979) movie. I think this show is worth you taking a look.
Goodnight from London