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| Keep heading north for freedom |
sp'weekly8
Summary
*I'm writing this before the Scottish vote result is clear.
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In terms of the equity market, the broader upward trend is really asserting itself, with new historic highs on the Dow and sp'500. The weekly 'rainbow' chart is sporting an outright bullish green candle.
The 2030s look viable in the immediate term, with 2050s in October.
Looking ahead
The only econ-data due is 'leading indicators', but I don't think many will have much interest in that tomorrow.
The giant Alibaba (ticker - BABA) IPO is set to be traded.. will likely open at least in the $80s... and I'd not be surprised if it hit $100 by the close of its first day.
There is also a quad-opex, with some index rebalancing to wrap up the week.
*next QE is not until next Tuesday
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As for Scotland...
I realise for many in the USA, the issue of Scotland leaving the UK is of little importance. Frankly, most Americans couldn't put a pin on a map to indicate the rough location of Scotland.
However, the implications are pretty huge. A successful Scottish breakaway would deeply inspire various factions across Europe to relaunch the efforts for more localised government. Catalonia, in Spain, remains a real hotbed of contention for southern Europe.
Without doubt.. many Catalonians will be watching UK TV this night... cheering on a 'YES' vote.
Goodnight... from what remains of the Kingdom