Category: Uncategorized

With President Milei doing well in the midterms, and with some kind of bailout from the USA ($40bn?), the Argentinian market screamed upwards… the MerVal settling +21.6% to 2.527M

Some perspective…

With four trading days left of the month, the MerVal is currently +42.3%.
The October candle is bullish engulfing, with price sustainably back above the monthly 10MA. Monthly momentum has started to tick back upward, and due to turn positive by Dec’1st.

Why would anyone not expect a new hist’ high >3.0M before year end?

Context: stockcharts updated their interface. Its arguably a net positive, but one thing was a major issue.

Issue: old interface, right click, select ‘save image as’.

A box would appear, you’d name the chart, and save.

New interface… right click, select ‘download chart image’.

… the chart would automatically save image to desktop.

I understand some don’t care, but for someone who wants to quickly name a chart, and then export elsewhere (without leaving the browser window), it was extremely annoying.

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SOLUTION…

In browser settings…

Ensure ‘save files’ to *wherever you want
TICK for ‘always ask you where to save files’.

Now… user gets to choose name of chart, before its saved.

*Yes, this is for ‘Waterfox browser’, but all other browsers should have a similar setting.
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I understand some might see this as a minor thing, but for some (yours truly included), we’re talking about THOUSANDS of extra mouse clicks per month.

As someone with borderline RSI, I aim to minimise typing/clicking.

US equities ended a bullish week on a bullish note, the SPX printing a new hist’ high of 6807, settling +53pts (0.8%) to 6791, which made for a net weekly gain of +127pts (1.9%).

The weekly Elder candle was green, the first in five weeks.

Since the April low of 4835, its been nothing but greens and blues. We’ve not had any reds, as the US equity market remains short/mid/long term bullish.

A line in the sand?

There are a fair few break lines. On a weekly chart… the obvious one is the weekly 10MA, currently 6602 and higher with each week. I’d also keep in mind the Oct’10th ‘Trump tariff chatter’ low of 6550.

Equity bears now face the problem that their ‘seasonal prime time’ expires as of around Halloween. Typically, the market will lean upward from early November all the way into mid January.

Few of you will care… but…

The Shanghai comp’ is currently net higher for Oct’ by +1.7% at 3950.
The break above trend is pretty clear, and offers a grander run to 5K.

Implications… not least for NIU and XPEV.

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Zero 7… circa 2015, before the mass societal-psychosis of 2020-22. Ohh, you didn’t really expect me to pander to the dumb vaxxed sheep… did you? Perhaps you need to return to your normal programming via FOX business or CNN.

As an increasing number recognise… its all downhill from here into the 2030s. Not all will survive, but then… most are not worthy.
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With six trading days left of October, the SPX is higher for a sixth consecutive month, currently +49pts (0.75%) at 6738. Even if October settles net lower, with a new hist’ high of 6764, it should be seen as a net bullish month.

Monthly momentum is increasingly positive, as there is ZERO sign of a short, mid, never mind a long term top.  We’re set for another monthly settlement above the key monthly 10MA (6151) as the l/t trend remains bullish.

I’d be open to a brief washout to around 6K, but then what? Probably resuming upward into year end/early 2026.

Sure… stock valuations are ever more ludicrous. Maybe you’d prefer a Govt’ bond ? How about something from Japan, Germany, or the failed state of the UK ?