It was a very bullish week for US equity indexes, with net weekly gains ranging from +9.0% (Nasdaq comp'), +7.7% (SPX), +6.9% (Dow), +6.3% (NYSE comp'), to +4.6% (Transports).
Lets take our regular look at five of the main US indexes
All five US equity indexes settled net higher for the week.
The Nasdaq comp' lead the way higher, with the Transports trailing.
All five indexes are trading above their respective monthly 10MA, and I see the m/t trend as bullish.
A lighter week is ahead...
M - PLUG, CGC, MCD, ACB, SPG, BYND, NVAX, TLRY, NKLA, NCLH, OXY
T - JMIA, DHI, CRSR, RKT, DDOG, LYFT, TCEHY
W - LMND, PRPL, GOCO, HI
T - WIX, ENR, CSCO, AMAT, DIS, PLTR
F - DKNG
T - JOLTS
T - CPI, weekly jobs, US T-budget
F - PPI, consumer sentiment
|Another day closer to the Winter solstice|
It was indeed a very bullish week for US equities, largely helped by other world markets, and also a weaker dollar. As ever, whilst the s/t is noisy, the m/t trend has to be seen as bullish.
Perhaps you noticed this week on clown finance TV (in addition to CNBC, I'd also include FOX business and Bloomberg), many of the guests proudly touted 'I'm not going to be political, but...'. These are the one percent people. Very few of them have any concerns for those 'average'. So long as the Fed keep printing and juicing the equity market, such mainstream analysts and media hacks will remain very pleased with the current situation.
The one percent will keep lobbying and be supportive of such policies until the math breaks the system. A national debt of $27 trillion does have implications, and whilst some of you don't want to hear it, I'll certainly continue to highlight it. A monetary reset is coming, and the only issue is... how soon?
I'd accept you could argue there is still time to prepare, but the 99% are largely financially unable, or simply unwilling to change their life style and prepare.
Regardless of whether Trump or Biden/Harris lead the way in 2021, a monetary reset is coming, as life within the twilight zone can be expected to become ever more painful and twisted.
If you have any issues with the above... I'd refer you to CNN, CNBC, or even Zerohedge. Perhaps they'll tell you what you want to hear, rather than what you some of you arguably need to hear.
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Have a good weekend
*the next post on this page will likely appear 5pm EST on Monday.