Sure looks like a bull flag forming in energy stocks ($XLE). And as the saying goes, "flags fly at half mast." #bullish #CoSoFinance

The Biden economic track record:

GDP growth over 3%, 3 times what it was under Trump

6 times as many Biden jobs as last 3 GOP Presidents combined

lowest poverty/uninsured rates ever

very elevated wage gains/new business starts

2 job openings per unemployed person, a record

the deficit went up every year under Trump and has come down every year under Biden

domestic oil production on track to set records in 2023
https://simonwdc.substack.com/p/april-jobs-report-the-us-economy

Not only is labor in China no longer cheap, compared to competitors, it's downright expensive. #CoSoFinance https://youtu.be/J4a5RPsDMRM

Operating profits are expected to have shrunk by 6.8% last quarter, according to an average of Wall Street forecasts compiled by FactSet. Next quarter is expected to see another decline. #CoSoFinance

One source of stock weakness in Q4 is that share buybacks dried up, down by more than 20% compared with 2021 during the fourth quarter. And activity has remained weak. Source: Goldman Sachs/Marketwatch #CoSoFinance

Good Friday's non-farm payrolls figures suggested the jobs market remains solid, with unemployment back at more than 50-year lows. Average job gains remain far above where they were before the pandemic. #economy #CoSoFinance

March’s gain in nonfarm payrolls means U.S. economy has now added slightly more than 1 million jobs in first quarter of 2023 #economy #CoSoFinance

The U.S. dollar index is bouncing this morning. A weekly weekly chart shows the bounce comes from the bottom of the greenback's range. This bounce should push gold & silver lower (temporarily) #CoSoFinance

#Gold may be pulling back this morning, but weekly gold still looks very strong. #CoSoFinance

China’s yuan replaces the US dollar as the most traded currency in Russia, a year after the invasion of Ukraine led to a slew of Western sanctions against Moscow #CoSoFinance https://www.bloomberg.com/news/articles/2023-04-03/china-s-yuan-replaces-dollar-as-most-traded-currency-in-russia?utm_source=website&utm_medium=share&utm_campaign=twitter

Energy Secretary Jennifer Granholm last month said it would be difficult for the U.S. to take advantage of low oil prices to replenish the Strategic Petroleum Reserve because of maintenance at two of the four sites. That reportedly trigged the sudden Saudi/OPEC+ production cut. #CoSoFinance https://www.marketwatch.com/story/trigger-for-saudi-oil-production-move-was-comment-that-u-s-would-not-refill-spr-this-year-report-says-8fe801ed

Personal savings rate continues to move higher from recent low and increased to 4.6% in February from 4.4% in January #CoSoFinance

#crude #oil surges as Saudis lead OPEC+ to 1 million bpd production cut: Just 2 weeks ago, money managers had largest short position in Brent and WTI crude since November 2020. The last time they made such a big bet against oil , Saudi Arabia’s Prince Abdulaziz said he wanted those leave them “ouching like hell” #CoSoFinance https://www.bloomberg.com/news/articles/2023-04-03/what-next-for-oil-after-surprise-opec-cuts-try-100-a-barrel

January S&P CoreLogic CS Home Price Index (blue) +3.79% y/y vs. +5.63% prior … 20-city Index (orange) +2.55% y/y vs. +2.60% est. & +4.62% prior … pandemic boom clearly over #Economics #CoSoFinance #Housing

From Liz Young: Despite being up 20% in 2023, mortgage activity is still down 62% since the end of 2021. Historically, mtg activity leads home prices by a year--so far that relationship is holding up. Unless demand picks up notably, there could be more downside. #CoSoFinance

the last time Micron’s gross margin was this bad — the chip maker spent more than $1.30 for every $1 worth of product it sold in the most recent quarter — it marked the bottom of a similar swoon during the 2008-’09 financial crisis. #CoSoFinance https://www.marketwatch.com/story/micron-just-released-an-objectively-horrible-earnings-report-why-is-the-stock-not-falling-1d1419a2?

Check out the bullish volume on this weekly chart of #GDX #Gold #Miners #CoSoFinance