DrStool Posted July 13 Report Share Posted July 13 The rain has finally stopped here in Malmo, Sweden, so as soon as I finish my daily start routine here and on Wall Street Examiner, I am heading over to Copenhagen for the rest of the afternoon and evening. The sun apparently is also shining on Wall Street. Yesterday afternoon I identified a 5 day cycle high, but so far, the wave has barely even turned sideways. It's a classic flat down phase that doesn't go down, and mostly shows up as slower upside momentum. We could see a 3 day cycle low this morning, and then another upside breakout. If the full 5 day version plays out, then the low would be on Monday. If this thing doesn't pull back below 4480 on the hourly chart of the ES, S&P 500 futures, they could blow the roof off next week. Even if 4480 breaks, there's no reason to turn bearish. 4463 is the sport level where I might start thinking about it. Oh, one more thing. Despite the indications that we're in a 5 day cycle down phase, the 5 day cycle projection has risen to 4500. Traders like round numbers. And lest we forget, the conventional measured move target of the latest base breakout is 4520. Meanwhile, what was ugly has turned beeyooteefull. July Starts Ugly After Fabulous June Sweden is odd. Not bad, just different. I guess there's a reason why there's a design called Swedish Modern. Everything here looks like it was designed by Ikea. Because it is. Malmo is the most modern town I've seen since Rotterdam. Oslo is tres Moderne as well, but with large older sections that are quite beautiful. Malmo's old center is tiny relative to the city as a whole. Like Oslo, the city is clean and quiet. There just aren't that many noisy internal combustion engines running up and down the streets. In fact, there's hardly any traffic. Bikes everywhere. But what do they do in their frigid winter? See you later! For moron the markets, see: One Small Step For Gold, One Giant Leap for Goldkind July 11, 2023 July Starts Ugly After Fabulous June July 10, 2023 Stocks Are Scraping the Ceiling July 9, 2023 Withholding Tax Rebound Sets Up a Bearish Fed Catch 22 July 6, 2023 Golden 13 Week Cycle Turn and Other Hopeful Signs 7/5/23 July 5, 2023 It’s Not Your Daddy’s Liquidity Anymore July 5, 2023 We Now Know What is Driving the Rally June 20, 2023 The Fed’s Slush Fund is Working June 16, 2023 If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam folder. Lots of new photos for you travel bugs! My travel photo blog Link to comment Share on other sites More sharing options...
potatohead Posted July 13 Report Share Posted July 13 Money Market funds will now charge panicking investors a fee when large liquidations occur. SEC Adopts Money Market Fund Reforms and Amendments to Form PF Reporting Requirements for Large Liquidity Fund Advisers https://www.sec.gov/news/press-release/2023-129 Link to comment Share on other sites More sharing options...
SiP Posted July 13 Report Share Posted July 13 Lee, 1 out of 5 cars in Norwarare already electric (biggest share in Europe I guess). They use bikes also in winter. Scandinavian countries like eco-living, close to nature. Bike are common in Denmark and Netherlands also. Regarding Malmo - what about arabian immigrant's? I read stories many times that in Malmo there are gangs and citt once upon a time needed military help. Sweden is a country with biggest population of immigrants (afaik, based as a % of population). They were running open door policy and now have many problems . Link to comment Share on other sites More sharing options...
DrStool Posted July 13 Author Report Share Posted July 13 Yes indeed! My Swedish friends tell me that there's a huge problem with Poles with advanced degrees flooding into the country taking jobs like restaurant dishwashers and hospital toilet cleaners away from Swedes, because the jobs pay so much more then the ones well educated Poles can get in Poland. As a result, the Swedish far-right nationalists are likely to take over the Swedish government, and shut down opposition media, take control of the justice system, and institute creeping hypernationalistic autocratic control of Swedish society. Link to comment Share on other sites More sharing options...
DrStool Posted July 13 Author Report Share Posted July 13 You know, I lived for more than half my life in Philadelphia. I've lived in New York City. I lived in South Florida for 30 years. I lived part-time in Canada for 10 years. I lived in Poland for 7 months. And I've traveled all over the country. I lived in Croatia for a year and a half and I traveled all over the country. I have spent time in about 200 different places in Europe. I have lived in France for a year and a half. And now I have visited Scandinavia for the first time. The Scandinavian countries are a paradise compared to anywhere else I've ever been. They celebrate diversity, good government, openness, and indeed "wokeness." It's just a shame that the weather is so rotten and that prices are so high. But I guess there's a reason that these cities in Scandinavia have the highest prices in the world. Because as far as I'm concerned, outside of the weather and the prices, this is paradise. And I think that the people who live here agree. 1 Link to comment Share on other sites More sharing options...
DrStool Posted July 13 Author Report Share Posted July 13 https://www.visualcapitalist.com/worlds-happiest-countries-2023/ Link to comment Share on other sites More sharing options...
DrStool Posted July 13 Author Report Share Posted July 13 Link to comment Share on other sites More sharing options...
SiP Posted July 13 Report Share Posted July 13 For hundreds of thousands of ordinary Swedes, investing in one of their country's biggest landlords SBB (SBBb.ST) was a sure bet for years. Now it is at the epicentre of a property crash that threatens to engulf the Nordic state's economy. https://www.reuters.com/business/fall-grace-how-property-crash-unravelled-swedens-sbb-2023-07-13/ Link to comment Share on other sites More sharing options...
SiP Posted July 13 Report Share Posted July 13 1 hour ago, DrStool said: Yes indeed! My Swedish friends tell me that there's a huge problem with Poles with advanced degrees flooding into the country taking jobs like restaurant dishwashers and hospital toilet cleaners away from Swedes, because the jobs pay so much more then the ones well educated Poles can get in Poland. As a result, the Swedish far-right nationalists are likely to take over the Swedish government, and shut down opposition media, take control of the justice system, and institute creeping hypernationalistic autocratic control of Swedish society. Really? its not a joke? that sound terrible. However they cant close borders since Sweden is part of EU. Sweden was the most open country in terms of immigrants from Africa and Middle east and that was (is?) a problem. Link to comment Share on other sites More sharing options...
SiP Posted July 13 Report Share Posted July 13 I have family in Goteborg and they are aftaid to walk in the city at night. Link to comment Share on other sites More sharing options...
SiP Posted July 13 Report Share Posted July 13 I habe a good friend in Oslo. He got norwegian nationality and probably he will get out of Norway because they are a closed society. Its hard to integrate with them in restaurants, clubs, etc. they dont go to restaurants at nights like people from South. He works in global corporation Accenture and mainly norwegians are promoted (glass ceilings for others). Norway was a village and onky changed when they discovered oil. Norway impress me at least in one thing. They have zillions of dollars and they do not spend it and they are not so much populist. In Poland im pretty sure that this idiot Kaczynski would give all this money to the people. Link to comment Share on other sites More sharing options...
SiP Posted July 13 Report Share Posted July 13 in Poland USDPLN crossed 4.0 to the downside. small caps indice sWig80 hit ATH. Everyone keep taking about bull makret and that you have to be invested. Link to comment Share on other sites More sharing options...
SiP Posted July 13 Report Share Posted July 13 Sweden will want to join Euro since SEK is garbage. Nordic countries, like also Netherlands, have huge problems with prices of property. Some houses before pandemic cost like 500k EUR and now cost like 900k. Young people are priced out. Link to comment Share on other sites More sharing options...
SiP Posted July 13 Report Share Posted July 13 Impressive year so far. Initially, expectations were set on 1/ persistent inflation and 2/ looming recession. After just six months we have expectations for 1/ no inflation and 2/ no recession. Link to comment Share on other sites More sharing options...
BurntOnce Posted July 13 Report Share Posted July 13 silva third wave underway. Link to comment Share on other sites More sharing options...
Recommended Posts