Do you fear Friday the 13th?

It was not exactly the most exciting of days, with the sp'500 seeing a trading range of just 7.02pts. Tomorrow is Friday 13th, and at least some of you will have a case of Triskaidekaphobia. The daily price momentum cycles are increasingly swinging back toward the equity bears, and tomorrow might actually see some significant price action.


sp'weekly1b

WTIC, daily

Summary

sp: As things are, it won't take much of a Friday fall to result in a net weekly decline. For a bearish engulfing candle, bears need <2520, and that looks out of range. Note the lower bollinger, currently at 2389. That could only possibly be seen if there is a North Korean atmospheric nuclear test, which would surely freak out the mainstream.

WTIC: inventory data was somewhat mixed today, and broadly, oil is mostly just churning around the psy' level of $50. What should be clear, the mid term bearish trend has concluded. An eventual run to the 54/55s looks viable before year end.
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Looking ahead

Notable earnings: BAC and WFC.

Friday will see CPI, retail sales, busin' invent', consumer sent'.

There are a quartet of fed officials on the loose, all speaking at some conf' titled 'Are Rules Made to be Broken? Discretion and Monetary Policy'.
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Normal service shall resume tomorrow

For you non subscribers out there, I hope you found today's postings at least marginally interesting, on what was a day of very minor chop.

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Goodnight from London
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The next post on this page will likely appear Friday 6pm EST.