It was a very bullish day in equity land, the SPX printing a new hist’ high of 7758, and settling +136pts (1.8%) to 7736.
sp’weekly1b
Summary
SPX: as things are, we’re net higher for the week by +246pts (3.3%). Weekly momentum is positive, and likely to tick upward into early Sept’. Upper bollinger offers 7967.
To be clear…
Net bullish into early/mid Sept’
Net bearish from mid Sept>midterms
Broadly bullish into/across 2027
… primarily on the notion of higher rates, which would be especially good for the financials. Again… BAC comes to mind.
–
Stock of the day
ABNB, daily
Airbnb fell for a fifth day, settling -0.5% to $149.92, a lousy performance to the main market.
ABNB, monthly
Currently net lower for August by -1.1%
The stock is multi-year chop.
ABNB, PF
The computer has a bullish target of $197, which I’m dismissive of.
Earnings are due Thurs’ AH.
On a related note…
Some of the things in this are unbelievable, as hotels are clearly less trouble.
–
Looking ahead
Wednesday will see ADP jobs, PMI & ISM serv’
Earnings: $LLY $SHOP $UBER $DIS $DIBS $RIOT $CRCL $BLMN $U $SNDK $WDC $APP $ELF $TTMI $MELI $RDW $AXON $BYND $ALB
–
Final note
*I’ve not watched. I’ll merely note… I like Holter, but he is still under-estimating how long the game could last.
–
Two posts on C19, a story that won’t die…
Its a wonder we didn’t get to the camps stage.
The reality is that a significant number of blue, but also red team, supported some truly sick policies.
I never fell for any of it.
I know a fair number of you didn’t either.
… but as should be clear, the sheep will do it all over again, if the political class demand. Next time… camps, forced shots, and state murder for those who resist.
On a related note…
.. but Fauci was just one of many.
The fact is the bulk of the populace supported him, and many… still do.
–
Indeed… many are on the move, repositioning for multiple reasons… not least the cost of living, and personal safety.
Yours truly spent five solid hours last night in research mode… not least travel visas, flight costs, and other related things.
If I’m to have any future, I need to escape the UK, and I think its realistic… before year end. I’ve much more to say, but I’ll leave it for another time.
Goodnight from London
—