The collision of global markets and social mood

Tuesday, April 25, 2017

Tuesday -- Never Say Never

S&P E-mini Futures:
Follow through higher.

Asia and Europe green but for Spain, where equities are lower and yields are higher.

Officials from Catalonia are moving ahead once again for a push for independence from Spain.

Keeping an eye on China, not as savior but as an implosion candidate:

China's Hidden Debt Stirs Investor Angst as Defaults Rise

Never say Never.
Source: L'Humanité

A European currency strategist was quoted: "(The second round of the election) is going to be a non-event for the market." Really?

A 20% lumber tariff on Canada? Not the best optics with our largest trading partner & peaceful next door neighbor.

Magic Johnson launches infrastructure fund (Marketwatch). No comment.

And Vanity Fair just proved that Justin Bieber still tracks social mood remarkably well.

Justin Bieber Is a Changed Man

The best is yet to come . . .

Not quiet today. Big moves.

Commodity currencies hit. EUR & GBP stronger. USD is in a bad neighborhood and needs to act fast.

Safe haven bid to CHF but JPY weaker.

Prices under pressure once more.

WTI crude and NG down in unison again.

48 and 55 area key to oil's pattern thus far.

Gold, silver, platinum, and palladium down. Copper brighter by more than 1%.

S&P Outlook:
SPX 2378.36 looks set to break, as does Dow 20,887.50. NDX continues into the ether.

Once again, reminiscent of pre-Brexit, markets feel just a little too sure of themselves heading into the French election runoff.

In bi-polar fashion, "surprising disappointment" has flipped to euphoria in mere hours.

New Dow & S&P highs are needed promptly or else larger, more complex corrective patterns can take over at any time (Turnaround Tuesday? New Moon Wednesday).

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