Welcum frens,
News:
Signs of economic trouble ahead are increasing and we have to consider what it all means. From bond yield inverts to consumer sentiment there is trouble in JPow paradise, or is there, maybe it’s a unique scenario where this isn’t a sign of doom. This isn’t 2007, we don’t have the subprime mortgage crisis brewing. It seems to me that we have a purely inflationary crisis which may or may not cause wide economic damage. Prices and wages are in a flux, housing values are skyrocketing, I did that stickers are on every pump in America, stability will have to come but what’s the catalyst that makes it happen, what if there never is one. We will see what goes down over the next few months, don’t be quick to grab lifestraws and build bunkers, but don’t expect it to stay sunshine and rainbows.
Rumors today of Biden letting out a massive supply of oil from the reserves. If it’s a large enough release then it could have an effect but the previous attempts have mostly fallen flat.
In a surprising twist russia is not actually looking for peace, I know it’s shocking. Peace talks are supposed to resume tomorrow, probably will be as eventful as the previous talks.
MOEX is supposed to allow trading for foreign investors tomorrow, since it’s Russia time that means late tonight. This can change because it has many times already and maybe already did tbh. But seems like tomorrow should be the day. If anything that can be played off this is not halted then go look into that. Maybe LMT puts or sumthin idk go think about it.
Daily Watchlist:
AMC and GME, they have fallen for two days now and are down in pre. Looking at the correlation to June I think this is over. We traced it very similarly just not to the same percentage moves. Be smart with what positions you have left, don’t try and moon shot it.
SPY:
Went down after a streak of upper band tapping. Right now it’s flat in pre, shouldn’t be too exciting of a day. Probably get a slow down of large volume buying. Look for double bottoms and knife buy in points.