Looking ahead

It was very bullish Thursday… if from a shaky start, the SPX settling +2.5% to 4287. Meanwhile, WTIC settled +$3.34 (3.3%) to $105.36.

sp’weekly1b

WTIC daily

Summary

SPX: As things are, we’re set for a net weekly gain. 4162 is a pretty secure s/t low. Broadly… price structure could be seeing up a giant multi-week/month bear flag (pink). If so… we shouldn’t go any higher than 4650/4700 by mid/late May.

WTIC: oil climbed for a third day, helped by the positive main market. Underlying geo-political tensions are further helping. Things turn interesting >$110.

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Looking ahead

Friday will see PCE, Pers’ income/spending, Chicago PMI, consumer sent’

Earnings: XOM, CVX, PSX, HON, BMY, ABBV

Event: As Friday is the end of the month, I’d expect considerable chop on higher vol’.
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PF chart of the day

Computer is seeking the $17s. L/t bullish. The only concern is the main market into the early summer.


I’d like to buy back with the sp’3500s, and maybe that would equate to the $12s.  I can hope, right?

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Final note

Dore calling out the mainstream media hacks… as they deserve!

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Anyone supportive of free speech is at risk of having the ‘race card’ thrown at them. Wild times.

This remains hopeful though…

Indeed, there has been a bizarre shift in the last decade or so.
This sort of thing sure doesn’t please those at Twitter HQ… or within the Biden admin’, that seems set to follow the EU, and have an effective ‘Ministry of Truth’.  Scary times.

Goodnight from London