The SPX cooled for a second day, settling -13pts (0.2%) to 7709.
sp’weekly1b
Summary
SPX: as things are, we’re net higher by +220pts (2.9%). Weekly momentum is positive, and will likely remain so into early September. A 10% washout can be expected, but once we’re past the midterms, net bullish into late summer 2027.
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Stock of the day
SpaceX settled +6.1% to $114.92.
Today’s candle is bullish engulfing.
Even if the main market is lower early Friday, the Monday $104s should hold. In theory… the IPO $135s are prime target.
I continue to expect a foray <$100, perhaps to 80/75.
Absolutely mid term bullish, as $300 looks viable next year if rates are raised, with SPX making a major push toward 10K.
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Looking ahead
Friday will see Monthly jobs, consumer credit (3pm)
Earnings: $OKLO $VST $TTWO $PPL $WEN $UAA $ASIX $ACMR $CYD $CGC
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Final note
*I’ve not watched yet.
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The Faber…
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Geo-political chatter.
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Two great Americans
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Change is coming, but then… nothing stays the same.
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Something different…
A little glimpse of one life in China
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Every plane… makes me wonder, if I’ll ever get off the ground.
Reading around, there is subtle… if notable chatter about an eventual nuclear exchange. Its my ultimate concern, and is a prime reason I should escape the UK/Europe.
I am giving myself until end 2027… but the longer I wait… the less likely it is to happen. Its a depressing thought, but I have to be realistic.
Goodnight from London
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