If you have not impulsively watched the entire first season of Stranger Things on Nextflix, the clock is officially ticking to catch up.
Netflix dropped a video on YouTube today confirming the show will run for a second season.
The show feels like an 80’s adventure film, down to the prevalence of smoking and grainy film work. Kids are also permitted to live autonomous lives without the severe paranoia of the modern internet era.
Authorities have already ruled out employees of the French sugar-drink facility from having any involvement, but investigators are still trying to find out why 370 kilos of cocaine ended up at a Coca-Cola plant in France.
The drug, hidden in bags among a delivery of orange juice concentrate, arrived in a container from South America.
An investigation is under way in Signes, a village in southern France.
The seizure of 370kg of cocaine makes it one of the largest finds on French soil.
The prosecutor of Toulon, Xavier Tarabeux, said the delivery “has a street value of 50 million euros” and referred to it as “a very bad surprise”.
Shares of Coca Cola are flirting with 4-month lows, currently a share of KO will cost you about forty three bucks.
NASDAQ futures are coming into Wednesday gap down after an overnight session featuring normal range and volume. Price held Tuesday range on balanced trade. At 7am MBA Mortgage Applications were better than last week, and at 8:15am ADP Employment change was better than expected.
Also on the economic docket today we have Pending home sales at 10am and crude oil inventory at 10:30am.
Yesterday we printed a normal variation down. Buyers drove up through the overnight inventory and quickly closed the gap down before stalling out at overnight high (to the tick) at 4798.50 and reversing. Sellers reversed the entire morning move and then printed an initiative rotation lower before responsive buyers stepped in ahead of last week’s low 4757.25.
Heading into today my primary expectation is for sellers to make a move down below yesterday’s low 4759.75 which sets up a test below last week’s low 4757.25. Look for responsive buyers up around 4753 and two way trade to ensue.
Hypo 2 buyers work into the overnight inventory and close the gap up to 4776.50 then take out overnight high 4779.50. Price chops around at the MCVPOC 4781 for the rest of the day.
Hypo 3 strong buyers push up though value, up through 4800, and seek to target 4819.25 before two way trade ensues.
Hypo 4 full on liquidation, price takes out 4753 setting up a move to target the open gap down at 4743.50.
Sellers became initiative for the first time since last Wednesday, giving the tape a heavy feel on this late-summer Tuesday.
But before bears can go around dancing the tapioca, they need to make a clean break down-and-out of our massive balance.
BEHOLD, The Massive Balance
See that orange line? That is me envisioning a break below last Friday’s low and how we could still be in balance.
Most of you do not pay attention to market profile. The few that do rarely practice the method in its simplest and most effective form, often instead obfuscating the process with aggregated data and arbitrary time breaks, but that’s none of my business
Kim Dotcom is the founder of Megaupload.com which was seized by the United States on January 19th, 2012 following a US indictment accusing Megaupload on harboring million in copyrighted files.
Federal prosecutors said it had cost movie studios, music labels and other copyright-holders more than $500m (£382m) in lost revenue.
Last December, a New Zealand court ruled that the German-born entrepreneur could be extradited to face charges of copyright infringement, racketeering and money laundering.
On the first day of the appeal hearing, which is expected to last eight weeks, Dotcom’s lawyers requested the entire hearing be allowed to livestream. The judge, Justice Murray Gilbert, approved the request.
German-born Dotcom lauds the New Zealand justice system
The internet freedom fighter took to Twitter to praise the decision, call on Hong Kong to pay attention, and throw shade on the USA for attacking the internet.
No seriously he did:
Breaking News: Judge has granted live streaming! Success!
He is fighting against Hollywood, who essentially deployed FBI special forces to conduct a vigorous raid of the entrepreneur’s mansion. Here’s some raw footage of the heavily criticized operation:
For many, the move was seen as classic strong arming by the overreaching hand of the US Government. Should the US succeed in extraditing Kim Dotcom, he will most likely find himself locked in one of our heavily fortified prisons for a long chunk of his life.
Kim Dotcom has become a symbol of internet freedom. Behind him is a movement against the tyrannical rule put in place by countries like China and the Canada, who operated under the guise of censoring to manipulate the internet landscape.
Internet freedom and transparency are hot topics right now. Germany recently called on Facebook to step up their restrictions of free speech. Internet companies are forced to operate their websites in this sensitive landscape and are often subjected to the whims of influential governments.
Through their ruling to allow the case to be broadcasted globally via livestream, New Zealand essentially sided with freedom.
Mr Dotcom praised the judge for being “brave” enough to allow the streaming to happen. But it does come with an odd stipulation which many might find a tad naive on the part of the court.
As well as a 20 minute delay, in which some details can be beeped out from what goes out on the internet, the judge has also ruled that once the six-week hearing is over it cannot be kept online forever.
But to think, given all the people likely to watch it online, nobody is going to record it independently and publish shows a poor grasp of how the online community operates. The video of Kim Dotcom’s hearing will be all over the internet, in perpetuity, whether the judge wants it to be or not.
You can step up and help Kim Dotcom fight against the imperialists of Hollywood by watching the event and chiming in via Twitter with any insight you can offer. Just don’t make a jackass of this new legal tactic:
Live streaming of my hearing is a milestone. We're breaking new ground. Please treat the court with respect. Let's make this the new normal.
On the economic docket today we have the Case-Shiller US Home Price Index (year-over-year) at 9am, Consumer Confidence at 10am, and a 4-week T-Bill auction at 11:30am.
Yesterday we printed a normal variation up. Price drove higher off the open and found a sharp responsive seller. The seller was unable to become initiative so buyers pushed again, extending the IB before again finding a responsive seller and ultimately closing below the daily midpoint.
Heading into today my primary expectation is for a move down through overnight low 4780.50 that seeks to probe last Friday’s low 4757.25. Look for responsive buyers down at 4754.50 and two way trade to ensue.
Hypo 2 buyers to work into the overnight inventory and close the gap up to 4792.75. Buyers continue higher, up through overnight high 4798.50 before two way trade ensues.
Hypo 3 strong buyers push up through overnight high 4798.50 and continue working higher, up to 4817.50 before two way trade ensues. Stretch target is 4819.25.
Ireland has vowed to appeal the tax decision in European courts, but as of now the EU says Apple must pay 13 billion Euros (plus interest!) after Ireland illegally slashed the company’s taxes.
The world’s richest company benefited from a “selective tax treatment” in Ireland that gave it a “significant advantage over other businesses,” the European Union regulator said Tuesday. It’s the largest tax penalty in a three-year crackdown on sweetheart fiscal deals granted by EU nations.
Apple and the Irish government have both vowed to fight the decision, which also risks stoking a fight with the U.S. over taxation policies — with the U.S. having already complained that Europe is unfairly targeting American companies and threatening global tax reforms.
“Ireland granted illegal tax benefits to Apple, which enabled it to pay substantially less tax than other businesses over many years,” EU Competition Commissioner Margrethe Vestager said in an e-mailed statement. “This selective treatment allowed Apple to pay an effective corporate tax rate of 1 percent on its European profits in 2003 down to 0.005 percent in 2014.”
The European Union doesn’t want to dig their hands into Apple’s purse, they need to. The swollen ranks of EU bureaucracy aren’t going to pay their salaries by themselves!
Apple is down one dollar on the news because we’re not caring about negative news items so much right now.
NASDAQ is down a smidgen also on the authoritarian EU’s actions.
Following on the heels of Microsoft’s racist Nazi Twitter bot, their unpopular search engine Bing managed to offend the entire Kingdom of Saudi Arabia after their translate feature converted داعش, which is pronounced Daesh, to “Saudi Arabia”.
Daesh is the Arabic acronym for the Islamic State, aka ISIS, aka ISIL.
Oddly enough, ISIS does not want to be called Daesh either. They have offered to, “cut out the tongue” of anyone who refers to their clan of radical Islam by the name.
The ISIS terrorists may take offense to the name because of it sounds similar to other words in their language:
Daesh is an acronym for the Arabic phrase al-Dawla al-Islamiya al-Iraq al-Sham (Islamic State of Iraq and the Levant).
Essentially, it’s another word for ISIS – but apparently one that ISIS militants do not favor.
Why? Because it is similar to the Arabic words ‘Daes’, ‘one who crushes something underfoot’ and ‘Dahes’, translated as ‘one who sows discord’.
So when you call ISIS a Daesh, it sort of sounds like you’re calling a spade a spade, and that is a crime they will punish by taking your tongue.
The House of Saud is not just showering Hillary with money for the sake of diplomacy; they want favors. Microsoft better hope they never end up as the mark.
The so-called technical error caused an uproar in Saudi Arabia, where many Saudi social media users called for a boycott of Bing and Microsoft.
There are reports the big tech company issued a formal apology, but several Google searches have not turned up any official results.
Shares of Microsoft have weathered both their cultural faux pas well. Neither calling Saudi Arabia Daesh nor unleashing a racist nazi robot onto Twitter has affected their share price. As of this writing, one share of MSFT will cost you about fifty eight bucks. It is trading just below 52-week highs.
Price is flat on this third-to-last day in August after an overnight session featuring normal range and volume. Trade is balance and mostly contained in the lower half of Friday’s range. At 8:30am Personal Income/Spending/Consumption data came in slightly better than expected.
Also on the economic calendar today we have 3- and 6-month T-bills being auctioned off at 11:30am.
Last week was choppy. Tuesday saw new highs briefly before an abrupt fall through our entire balance area. Then Friday, on the low-end of value, we saw a strong bid step in. Choppy and balanced. The risk of a failed auction is still present.
Heading into today my primary expectation is for sellers to push up into the Jackson Hole reaction. Price pushes up to 4817.50 before two way trade ensues.
Hypo 2 sellers work down through overnight low 4774 and probe Friday’s weak low 4757.25. Look for buyers down at 4754.50 and two way trade to ensue.
Hypo 3 range play. Balanced trade between 4800 and 4770.
It would be ideal to have a model signal heading into the last month of Q3 because everyone starts being serious again in September.
You had, all of you had 31 August days to grind and hustle while your competition sauntered around beach towns and hastily sent their children off to university. Now they will focus their efforts back on the accumulation of wealth.
Into this important week of stock marketing, the models are coming back neutral. It offers slight guidance, in the form of a 66.7% probability on the S&P 500.
This probability was the foundation of this week’s Executive Summary inside the Exodus Strategy Session. It shaped it. The slightly-better-than-a-coin-toss stat is the only hard data I have to work with.
Be ready for more balance play this week; working the edges until they ultimately break; and knowing when it’s time to start discovering new prices again. As always, we’ll take it one day at a time.
Exodus members, the 94th Edition of Strategy Session is live, go check it out!