The collision of global markets and social mood

Thursday, March 9, 2017

Thursday -- Most Powerful Lamborghini Ever, $2.4 Million Pagani, Largest Cruise Ship Ever

S&P E-mini Futures:
Recovering from yet more overnight weakness.

Social Mood:
While the number of top callers continues to add up, social mood continues to suggest that animal spirits could power the markets a bit higher:

640 horsepower from a naturally-aspirated V10 engine, a dual-clutch transmission, and just smashed Porsche's record at Germany's N├╝rburgring. Yo.

New Huracán Performante Is the Most Powerful V10 Lamborghini Ever

Six years in the making (commenced in 2010, the momentum peak from the 2009 lows), Pagani’s $2.4 million hand-built supercar is sold-out of its 100 unit production run:

This $2.4 Million Convertible Is Among the Most Outrageous Cars Today

And until we get a Superyacht signal, it looks like we're stuck on the Lido deck:

Royal Caribbean's next cruise ship will be the biggest of all time

FX:
Very mixed day thus far. USD failed to best 102.27 as expected.

Treasuries:
December swing points remain in focus. 2s broke it, 5s look next. 30s close behind.

Energy:
WTI crude busted its range but not its rising wedge pattern, unless 42.20 gives way. Already hearing crude is dead. Probably not.

NG ripping again, up another 1%.

Metals:
Red.

S&P Outlook:
Want to see above 2368.20 today or else Sunday's full moon might continue its gravitational pull on prices.

The 2363.64 gap was filled. Volume and ticks expanded, however.

Still not seeing an impulse down though. But with the level of "surprising disappointment" rising, the 38% Fib support level at 2349.88 could easily become a target if the market trades heavy.

And that lower gap at 2351.16 coincides with the 38% level too. Nice target.

So unless prices can escape the pull of the moon, the trend is in danger of lunar gravity.

Again, above 2368.20 likely defies gravity.


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