The short week began on a very positive note, the SPX settling +90pts (2.4%) to 3764. Meanwhile, WTIC settled +$1.53 (1.4%) to $109.52.
sp'weekly2
WTIC daily
Summary
SPX: a positive start to the week, but we've seen this many times across this year... for what is just another bounce. There is ZERO reason not to still seek primary target of around 3500.
WTIC: a sig' net daily gain, partly helped by the positive equity market, but also the moderately weaker dollar. Momentum still ticked lower, and remains on the low side. Oil bulls need have no sleepless nights unless the $93s are lost. A challenge of the March $130s still looks on track.
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Looking ahead
Wednesday has no econ-data of note.
Earnings: WGO, KBH, FUL
Event: Powell, speaking to the US Senate, and that will likely drag on for 2-3hrs, and garner considerable live coverage on CNBC.
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PF chart of the day
AMD, monthly
AMD settled today +2.7% to $83.79, but still net lower for June by a horrific -17.7%. Note the lower monthly bollinger in the $60s, and that is prime target for July. Superb company/products, but its m/t broken with the main market, as there is ZERO reason not to expect a lower low in July.
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Final note
The day began with...
Twitter had flagged up THIS very blog as 'unsafe'. It wouldn't even let me post a tweet with my url in it. Anyone who clicked on ANY prior tweet with the url would receive the following...
I consider the matter one of libel/defamation, and I will duly sue Twitter.
I'll also pick up a legacy issue with Twitter, on the matter of C19.
The starting number for compensatory and punitive damages will be at least $15000.
I'll be sure to ask for some 'audience' comments in the coming days, which will be submitted as part of my case to the judge in early 2023.
Unless I die before then of course. I'd imagine Twitter could decide to arrange me to have an 'unfortunate accident' in the coming days. It'd certainly fit with their ongoing campaign of censorship, deplatforming, libel, and abuse, against those who don't agree with the various narratives.
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Subscriber note...
With https://www.subscriber.tradingsunset.com , I'll resume there tomorrow morning.
Goodnight from London
