Gambling, Profits over People
We financialize every aspect of our lives
Good morning guys, just wanted to do a quick note here this morning. We are now into the dog days of summer and the calendar this week is light, but we have big tech earnings on Wednesday. We will put out our straddle break-even analysis and see where the skew is on Tuesday. We hope everyone is having a great summer thus far and we hope you take advantage of our new format and consider becoming a founding subscriber to enhance your own skill set and refine your own investment techniques.
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Gambling, Profits over People
We live in an age now where gambling seem to be dominating the social media circles and many are falsely being sold this age old “get quick rich” schematic and many are falling victim to this ideology. We are not big advocates of allowing such open access to gambling for the masses because of the human psychological invasiveness of such carrot dangling can prove too much for too many.
This next chart shouldn’t be too much of a surprise and we expect it to get so much worse:
This data as well as the report from Epic Research can be found, Here (EpicResearch-GamblingDisorder). See the key findings below:
At some point civil society will need to decide how much free will is too much for the collective and do we just accept the consequences of everything? Where is the line in the sand, we pay amateur athletes, we financialize every aspect of our lives and all our data is online free to see and under constant surveillance inside our homes, out on the streets and found in every transaction we make. Sorry but this isn’t freedom by any sense of the imagination, this is a surveillance Orwellian, Brave New World scenario and we aren’t sure the world is prepared for the consequences.
Anyway its been awhile since we have commented on the real world outside of markets in awhile, although gambling is obviously the new target market as the meteoric rise of the Kalshi’s, Polymarket’s and the online gambling world in general has made it so obvious headway into what was once strictly financial markets but now everything and anything seems bet-able!
Alright lets review some of the technical charts here:
First up Crude Oil, obviously the unpredictability of our geopolitical climate sets the precedent here, which means the moves either way could be extreme. However we seem to be immune to anything when it is smoothed out over time but reaction moves could be swift and problematic for over-levered players. Crude has put in a decent top and is now flanked by $87 on the resistance side and $77 on the support side with our pivot at $83:
When we look at the SP500 and Nasdaq futures, both are in an obvious consolidation mode. As far as the SP500 futures 7650 is our weekly resistance and 7200 our support. We suspect both levels will see initially countermoves if tested but overall the tone is still to the upside:
In the Nasdaq futures we have 30250 resistance and 28150 support with our long term trend slope still the magnet for pricing:
We are going to post updated data tonight for regular subscribers which will be a full Magnelibra Market Intelligence Report. We wanted to just get this one out to you guys and set the tone. We hope you guys have a great day, make the most of it and keep plugging along, that next big break awaits!
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