Umv - midtown anchorage

Ultimate Marvel vs Capcom 3

2010.08.05 20:36 DrOrpheus Ultimate Marvel vs Capcom 3

Welcome to the Ultimate Marvel vs. Capcom 3 subreddit! #MARVELLIVES
[link]


2013.09.10 06:58 pussydestroyer5000 Ylvis Fan's

All things Ylvis!
[link]


2011.04.07 08:48 Waffl3copter Motion City Soundtrack

A subreddit dedicated to the alternative rock band Motion City Soundtrack and associated projects!
[link]


2023.05.29 16:59 Anormal122 UMvC3 - Lobby Shenanigans 6 (feat. Maximilian Dood)

UMvC3 - Lobby Shenanigans 6 (feat. Maximilian Dood)
Lythero got ratfucked by YouTube can we hype this video up?
submitted by Anormal122 to TwoBestFriendsPlay [link] [comments]


2023.05.29 08:25 Jonnicom Is there any way - legit or homebrew/mod wise - to get the DLC characters and content in UMvC3 on Vita?

I'd prefer legit, but I can't seem to figure it out.
I have a Vita and the game, and I'm trying to get back into it, wouldn't mind paying for the content, but from what I've found it seems removed and unavailable.
submitted by Jonnicom to marvelvscapcom [link] [comments]


2023.05.26 00:00 clavisIllustrationem "For wisdom will enter your mind And knowledge will delight you." - 26 May 2023 on the 10th hour

/VRR0QLJsdcELCK8nECLsfFz2x17z0WomZbn91Y7VJJQ8VJcCRBwBAnOIOoCD1vgas3hzwYqPVGe0hqE3g1hz0CRLo1jazZX0XNLf0im3qQWnO9GbO2cCIchM5ayxQctZ54GI0Jz6WChfjFuTP6ktzhC1qIZcMgftf17BrdiJGxus01YBFZ5+lrIuBIrArrECMm0Msxe9mEnIURAwBTcgWGO50G2BwrAixs8axvgxBh7+bwIMLxgF2GcMLFCBn4kNaVNp3j3j7kdyFqdE8hCxBztfFuLXBF4inyhs2bDxuMi2UGtKPiRUpRugegsTilIiDfBwrDpdu2pnaRZVavTGS7b5aFCBBCBrvEsrAvvMWkHkG9fNfIFZRBgfCWenAOnDv9+pQcVeQfXgMPoEpv16nWALOYsoA2JeCXeUPe+llb6+/yRHGQW6H4UG32pI1PECVpbb//kb3+/l//+Zq5U7ARIf83TDh9+/l79+0MYTwfdcd7NigLW6UpuaMNJnq8//jZMdoE2Tnh2LBorgrxjWLnQUV61xcbShDGir0mqMu3smc8+gLSpVeSpE/hy2hMdyCBrFCGVDn+eqiBoTZoiOJoUpdy37yIHG+VMphU0zMcD46w9O5LO5y6jk+fESC1tTcVR5C5ahp/++UVAwBVH17UeytRJnm1tf56zxw4MHEGZVxp1JGhJ2js5D79+g9katZd5ialUtjbA6KAmKI0MqbGXoRiANSkzxQc6jkuK5KHzXgPMueqaRrEuLL27jxC1zYAOWocCGeM/xw5U5crv2ccMW6BYvgYqXKFMDx58si/tHcWKMLq9ONeMnEBXK/CHsS8SHmVuRrWw1EyDR44lVc5s/MQdCMlkFwID8/D1NZLodUJHm21zhlBrQkVdkJjb3mYUwXpLoitOUqT8lNf2799bgsxg2GUhIdSZq759+7w6abx7+3S4tRY0TUwbyKC2zxFsFsFGtc9YG3I5DO1MW/DzBImAJGhJ0zRYfy5UQvAoXB+ZKEbLmEMHj+7iGCNSpJqKVrSQnCRqePK+Vp5byuRTGVI6tfv1QpJ2GZaH9MPGnzZCVcVJnfTtfmcFSyZj3Z04URnb374XKXL2jtEYoWYyVZCznaHI+bul/mZwtP+lNdci3NECBwXY6FOrYd4+lKphZ7DSTNG4ZmtG6k/bb3//lxJw1KFg17KnIURHmci//VHJu4gaa7b7pn07Pq6iISX7pAgfi+lUGciU1TZAcRyMBwfGxX88kVJVV/88g9gycSHG4TkMWIJkZvIKp0I8bjpE2Nn6kx7//bzwzZurPEBsV4dnsLwzRocy7TMpn6ktP5bT5bL4Dhv06ja3h1rFCDB1TY2pTBCVJYBqJSTAQrBvgCraho6lf3/ttDkSoC+V1YasaLdaZq4UoRkNEXpO7oaDe+LBrKvrjDD1b//+MdSZO5VPGmOIjVxCEbCwBSTDjNPe+aabb+xw6woZPcVgLC29sBGuNJBw1M+//jgrYdjpsbts4NG4lt5+GWKHu0gTey/Vl/NonF2jDC1zRhASm8Lmy9s1zhAgpEEmIH6VXdGK1VHJ8bVfSfSfpd07BrFCdsQddMQdXIPHmqKZ4NQ5jtF2Le9kHOEfUwLgmyJnPdWQw6ww3t33DW6N02g7tYZPX48kfF49MednTQwkTIT8PvVFb3//AgTMIWWIqLfG1jB1cuWPllx08lVfa3//lwVKPMGIJFYFXuhuG5BDw9Dv6ksZPq1wI8QYDI4VJc//9zzbjYxwpBsRvR7QlbbzzeLJnaoR1uLuXuIrlCrv6llllc+idEdteFOr06jVn8SbOYLn165jsFsF1LyPh32tZv1UtJpXv0+lBrdiXoGWhWWq4YSWhfBIujJIcwPx167LdiDv6krA60Kcd5BQvAQnyMbDxncUn8/tI4BIj3l3Jf74WQVXdShMGnTipJP31P7Cc7t+odibVJ09lD19phWhFJQFbDb3NpLonPahC11jDA5UJwFrCGyDGqH2GIyxQ7LEfUlfJWbf+nGOHStPehMdylJquL2cgZW7HgLWeUBeWYj07ze5l//+c4iVtf9/bu+VZ6bhXuQwixriKdUZcSJGZf/91ThCzwQouxIcKPFXwBW1TZDWEvqmIPrSvo18wzDwtPeibRe80TJWxQey3hz35+DryBmyIcyRvTPbRRg2zu8kVixQezR5Q3DoJyE2IJenAIneitOqKqtb3x2TDITxkFXQ5FjllmrYRXuU0qNT5qGJ7TjuTOMHmCVNpuCXdqG+YNj3927jax148YO1TjB44dwua26AKZz4mmuRI6jVt97wiYmAIyC1g9jCxBvBCruQ9apf3M4WPekt7ja3Z5qenXhoKlKsQImueSbRo4oOsJjb3uSNJ4c8IyjdD1/lUDVsZPc4KFoWQHYQwQouVDb2nOkNw1WwhkibqHnbevWv6P2SWIGcJSDYXeGWPQtXgI5kbTo9k3kjhcqxQ6bv06klV38+OeTJuBIGWcuQIp799LVuB294xmrJ4zbh2fin07PAQt327TtKoXVn2gmtF7LE1JsTv6ltonAxyxUfsdGHDwBY0ERzWCok9oGMsQCrPEpMLdOYiaxAwjpECMJd3mEHwybZv0/h2jqF8CDWJFbTHayvuP+3hjz25iwBtPei1s5iU+VEyCV29bETerj4lhH3OUvpMShp8D788Ak5DQ5YwgmtHSN2CflrWA5Ufb79+729bAAoKC15Y3zvJTmsMMo7r5jDEsQoXwVXkg0hT240YpwLqid4VP6FsXtBYmPx6T0rLGwVNZasxehTY01TZCrvwAcse87UrqmqrFCBIuBIvBQrvgCzCRNI+Vhwc9VZi9MoXDLdiDQ5bGCgmemvQltooe+G/1kp1tcjNX2bDhyMb7EqYF4/lf44ULnlkZIM9+fFG97fIGWImDZ4IGZo/7P2LXABAiTFWgXYgA5Ufv07j0vQYbn8bx29VElJEhVFtZv1EpQFvgCrzPpz2pTswRPZQHY+bx5ahs6T0xMf2Cd7k3zlD9/E2LovBGw9G6GbGTHvmN/Re8ypOoOiNHegKRQkcCJq5kCjVDbCyG0cKLM4DI4cgV/nnd/Cx1/lz29lUfa7Brlj6cUayNG4tSkVN4SkSeE0L+1a8br8ETPlDr5+586jMfjavQktJdc4KMXdBemAYJNEOS7Ufa+99d4cr4HdQcM0PcpkNCJuw1gxW0TJA1TZMWdMiDMdahr5Dr5kgsvwXKZK5iaDxg2zkZdku4PFTmyYokZ+/lyRLe48lbd4ABMXznq8AJIIfT4qdhYEjn7WgogZ+jLNN+3hz8/Nd8kG7N3w1Isj0AGSEMPoSsNIHI8bx7Y0TM1pPF2GHHSgpChmcOLb1VPFu9Nq5+jlbtf59UtZ33333kDRr69lb37ncuCImuPTsfEjVDx02xBx2yE1dabcv0+lbstZvatZv48iUjRTfW1rX28HPHRPzMtZfv49w1Qv9OCf1EsPoirDD3316gklcw/q0gTNb//++/p4kGUbgegZaCJHGm8Vp2gvVGQHgVk06buIGuLuQeoBezpECN9/l+23HObLSpA1zhQecpJS09Vfr19+GYtaTXvTDr7k//73b6LJn8RIZIFZv4OUQz5jDB337jyDLnEsrAuhC8V4+VnTsfETNpcEoPNgwctcDcyRofz37zHAtigci+jUlBO6ZW8P/z26jCzpR9MQKGXXB1k3jUtYxr27moYO1HhX9sJ/Ji2rbWl0GPbTjtF23xnd46vBw44kVlxy2hVe8tQqYpOSWXGwrkxUtZzllbqr6NTu56PVyWcRGHciNSXoiAnOISood2WeRY0zz27jsvCBHlPHbMtAgtB+lt58lVdbb/1Mk29uBd68WccRrv06jlx5559pEsOQIcyTV7rLXABRrocdiIvgFAH97Ufy5y2h98qtt5oEsHn/ROFnGcESkVx06XbwXwBYQFVPtp9/VtVsZP11mKzszL6rpWj9pHc5KqZWWNx7ruWmoVVtf2aVvWhnixtHciKmZYemzxF2+bZv8IW0IdZOk++9B1zh24vTXoGWhWuq4YSWoV+paxx6119/9lh21v528Vr8UJylU3hyyCVNQoyxYFOqIOOmoOyDR44FScggeaahkrP39a/l/9w1g421gWjeE3v6+bf586MWx30ByNV69UsnugNcQM1AQrB1jZC0nSfPeEsPoWNeqaNQW7v3756FslqgDj46BLFCDxd48jTVV6A2JEEB0RjuWryU0U4C4H8kKHGcikRKU3laLHiDr5YAzNFh2fvrFCBja3hLzNdV9GMQ6XeTWNGjTCxA5y2hE2Tps6B64GMDeCYvwgqesge6avuqeixQewYqvHy3hwdEyEOw2dz46wMpmZ44NS7HmcjBQvAdw3Pealfv06ikNn6TInYN43ptfv3HYoBzb4NfmMmmIWqPfkyKuBgxvBPvkDt5pXy3Fy2gXk0imAHmEsQo0tSPhHMbRJ79w169w1g8+kVXyDLclaMwOrwgeyHKh1Ha4XbOTcHVP4bU7ja+/hzc8STxritvoE+Ukll3hb3z3c7hg0zRd3715xTdwHWRWnqPA+GuN4V9nyjbla3ikSMiVrixUeysvwgaHVgxAg2mjsFCCrvQWqPeiVNZuAIOYjUtDIilfre5imInZFASEsJSTei3SZKdVFhRg7a7bdigxHyCQdaK+lVaNn4hs5aFoCgOZDX/JQfSfSfy4CoAYUpu54lYXzQxs5aj99911FCFrWQTefF8/re5iVNZwArPXqkK6M1ElWF7VFP0+kHNSbO+blXaHeaj7k3tF2jrLXAZWxiCIHx30Oo8AIqlhnfWB3pBuECJ4DLXArPejlbtc5RIcyVp5kvBP16jOLCWDxm8lpUZm4IODI2TnEqSpT8LYkHbIbGjzGQqnRY7z79e5EULIx1ggsvyJIb1M1Oqsexw5UwBXsFCBjb359+/hzP0+kVNf4yLWw/D/ybCj8LTD7/f27U9zRqz1yTx030qqnnHWm9L4LXQuouQOOLbYxmGARIOuuoQIOIrQq19GJmFIKqKvIYU+9ha9fVfm385/l7MgZ0QYi9cTks5qfF/vcVajw169lV3hy2OqZP3788iiRLe6Wtn8RqP4x0oK5Ufzb27gTfCh3XxYpQGvwDwgqvPnCGILHJVbb7Uc0xWGIDLiy+J8hJGEbR6/W0THNKuUp1+yBIqBHWiMFS2jCx1791Bjl5kZq4NatAInyTvbTFwzAQzSVQlIWWoesJVZ19l344483hTmcFSmWl39/F2ltPd+48YOJFyX++UMNb//+a8jDp3Q/xQfXgUXcUKUMJPq5i+FRR73K4DHa3hv16zYvVDb2NJncuRQeyxbGSDj391MpXx388yaZPq2It1qOHV+G9tLeGWeTTPDB3jfv07a6b3HuhmJm4UOHWCcfIp0YoZeB5//lC+1vYoAImNJnfW6DX99YJB6/DNpd9VYKoc0JV4mgRu1QrZJd06nM+xAImAIuBMu1s2hHsIOGQHmSrq4btPk9XDTHuzRIfy7hllVtte5N+h2+cn0Cm0d44jG4EsMdah7o4paHuuobP4VJghZhsluz/Peitg2zwI2XE8PfE2Txz27WRVIiWyOK9+WANHqILJWUEOuuaK2jmW4qRiwKyoPoFs0wXPl//9j3PeirrFCBTZq1Qv7Uxw0ab1LafqAwq0PeitSfTfd44jA6FSKErK/b7+OYKnVk7UGyHKgkuhWreelb36VsCfSdwTdiDLbAe0GiRvKEPJGDKzYPFv4kJvjVxxx7/+8Kq0pAFpZA1TBrhC559/RngRZDkK3P+eGZOkDJlovZVxhmIUt0gpZFmcEkVMpitPeC1zhA8sTYIKIU7zytx1gbGloasZ311qMF/Vl+srr5QZq3A6tjLu3RrfF0PImvahs4DIMZckRecyhVla3hC1zA9znriOHVPlEgskJWWIkZKHO5Bja3F99zrt7k3z+NOQuiGBowOHGWLf585jzscFm8MmAwq5UZrbblBCgsvw73jKuBGqKytodEzpE2U9bRfi3j17heAJoWVUtf+/l//+cyPIAxlKRdaTXny4iUJre5jHFbQJHc+2zhDB1jBz3RnXu9NmpDzZZ4zIuDf88ijRrocH1hUknoxFJcSukjpX0BLZA5Ult3/c4SN6+twcoyBogZWg5R5NHpGzixrinAQnBIxvjRvGOLGuLNo5XGILAJWXa18efjlD99jlld0eFGpCddxvRdW6tY4bR++ppf66kVKobnJumX6lYkRZZwlZmZSLCO6owOaRe6XPq2WeCDTfy5UZq1wzlasrr7e8bLGA1Cw1Vp4+Mu2Me+B2jDA1TphUsJKJ5M8bRe8NNDO4NNGSQvCQ8t+REsOEHyeVrq+TLJdS8mWFUNHmEsRouqCRNHci+tZLFJRFxLsffvc508yxm9UhEeE2XrN00QLJE8kUlAmhlqzRee+//VRzz9+wBIxoWYRj+J0HkE9nML7VKz8Kbcz8Vp8eStRncuBXABKoqEnQvWwLcui5YSmJA15k/aUVV+7kbBywrXQDK59JiKTPz5bTFu8lV/6jj96PpE2rAInFCBsfF88aQebJ8/SXV6vmKcgJ8kCDD06gTGs8eK/o9IGWeRVLq5vQmKGmfdmrPYDjHjtoXrv3j/kTMfkkUtCwwgsvxg3z+++/79kbD49Pv4sCTLJsMqMW119/bgeyxQ8F2zxh2e9kbJn+/NpWy+rEHfj5hj++bgCrPZi3TecypS1sCdoy44EDqosBWwM88847f585Mzn/gsvwRr269T133fq4UVp4+Nn6kvRwQpSEJPLOHGeSbYeLmTabFy2gjkNIHgBYIDTHCgIxw+azz97wFWE14aUQ/2GesBcar7W5t8/39lDLpEMmKGEulfHqePGHGcFy2xXvc4ETMfjapO+V79UawBWwsT3x5ANY6DZiqFpN4/Db33/z2xDDx19/yTYGQvBw7969rm8Vl81Pb3z/paHWh9e48FG3z729/k2337g1zWBDGV+qKNjKu9MGocZ+hZXzWff40TJWS2lUmKcoSRlrl0zRY0z35CFPsTxcd44js5QYGoQqCrzh33ppJDcz7zHH2tJMpHtV3/9KKGpqKWPz+HGOdJdYwDZNpn0hT24Kuhhj2FvyhC1XLGDBlhXghCLnEA5UfbNpd7UeyxxxMX+2Mu1MARGTMQt+/lllikVMqEXrpdmSnxe8bTpECPBQngOuwgEAhbkm0CmnOYKrPYBwzFvqMfKLCLvO58zmSRQfycSIGbv0kS8Wkx3kEJIqv6j3jNXABrha3x07PeiNxGQ3JLWUEfGEHuUHjP179OIOpE0LvwwHGcj6k3aRXQRNkYxVPHoM/lxxx2bDxs1ahoEaz2JPPf7JcP+iYwCYNIbcr8RIG89oylIzfJvosJDgm7Hc4VVl49tnfc+jZxk2zr60gLLIWqP8lJeDe+1d2+6uwgqFT25ilt6+2hBGMuKGFnwTXwBYWBmTlpdOZ0rJGKQn8Vx16/7+/m/ymgRBgxjz24ht/7lmDGIUMjcb0fFmHrUb14kLnh388ybf5y2fz7j/yKUIVKOSHyUCRBzCxrdvaFtvlgjWQHKXKiaCRFyfFc6TXqzTZZ127Tm///dZB1kN3P+fG59r0H5yRnQPfv07LdKX8DpUHmQHVG/GZNyWISW8ZIhZ3j3jf8+VdCOBLHXmHU9iNGwLurWwLWvLB1kDq5TZ//79bhe84aVphCdygsvwsvahRjlbdk1UWUjRPPRu6Mmkp9kt46XYwXQPXImAQvDQ8bRe7qhnMOE1TpgIIbFGSsN/12si+Py4JyUDX0FMRr26zQ8ZKS8WcINF2jtF19lD29z79UpX9+7jw62zXk57k5M8nDMGJf9eD02XBxLERGfJwwwwwwaxf5c5q5MXAB5kfsWehCdy1Mu1IP2G3byOmrGuLLzh2+fy7UxwguVHGSWkYUaO9K6RMu1MbB5VyrLhYNKNPmDujJwOeRH8L0HpVUKogMdgvT0IMOhd+levA6l+888/06jV9/h27wAfYNlckReHGcjsFsE2TJYEVCJYaXV/HNQ6T1kBcCJSsJNJ2jt5mE8fTfl3xhlkqybr4TF0z1V8RZVhmK6t8/r8F2ltz99++6abbuwTpXCPXVJLkXvOZ09lyCOLSZkzQgh/19Jv9QLJn7722szZv05ry9sTpE2hT28+kbWuNowLOGm+/W0kIWgJEC9b/+stt44kVXu650SmKGzGnW+HWRwLf+l369ibRIeybx6+zRZAEJGWDEQPRZy7U21yhURp44BIOE1M8/Jc6UpuYK9V7e7ZTit2IOhgjDB1R730qsqUwn6nAImHGWKPIWsnugMvwgqmCFLvM9OYVSUC6DpgTJ0YmoIllbvvZKdSD118tfrG9I+DedAOHQTMpXudEqXFCBr9lZ1v1uT0H4rZGKXWLUBcUIJqM8ezTJA15khs7z+/b7Y0TJSfy7w6sqQnUJu6VxqflOwdzxEUIGpWgJZa7a4macZrltO1iODThuCNbCGs8hxO/c2JFfGEvN5WLGBUMh3AayJgp9b2k3TY+T6vBUwKIXT+++03oAZYsc17HOYjUfu6mrYgvRCqPW/myWmatF2j3kfFy+3z7Y3RglIKe+Be4KqH6u90jNWiUNHm2hPrTZA1cGqlfJb0AvqZs4N0rqaCRLs0gPMZqdUk9nReN6PCw//444/58+k3zRZ0kJaO76rGOPmeFixhh789lVncNu+t0Co2hz26g9iaAO8MOjd6/Rsr0+tZv0//7hllducFG9VsWeGWe8GvWGmKEmqAXD18lT5+++3Y0zQitHfylrO6Mu1MjNrBw9DF2jrjDB0YoWZ4LqFKXLnhC8brizIGPJ+ONmKEnmMHABjDr5wg6apugMBrnlAdQdaDe/Df85TOPThC1wGkUQsHCWKGFnhGmPzEyGvbWRslxoccSNJc4SKbrTqKQGv7k3zlD99Bw1EjVNmWRJkBsnoMsjvecgAfMGcgpWgydX28chfVmWSNcSQPKeja3RoXfChf+DccalGKfa6vPYcyhSaCRjDB1YKnOj99951YwjXwziJYhthwIqKW8HppJnYshiJ9WrMAfChpxeXGx9jxzjvkonUjZmj0RTODcAdyUDZu0KjhbO3PFQvAQtJaFx2mRXbSZFiZ4dKWHJKgplD19hg2zz1jOxBgtFahe2Gc6abxZ506jlte5hlllzbF2FtHEPc7j+7KoXSTJW3mmWikLyp9kXgWKRK3mITXw9BgxDhqePM2zxg93HJeCJKgpClVtr2+lJrOtjppM0MS/Pu0gjQ3334xqApcSVbq5UZ29tERnXaFZUhNN3/y5+l33S8eWeIWn+iLMw1IOPGNPpc8lUJGmhs5almmHn9q4MVua3lbNpreFVte5Cc2s8LmkNv6pny3ha/kbAXLmik3q8JNTL9//hBMu3LdiXqcEOI1zDBldEI1zDB8lVeyChTSLh4vHuSHvGiNhaWmEXBohapVFJODRBxq4+VZv4T5VwJXgQ6axv999rrWATJCxBzHAmhiIOtROhSslhGQJN/TaaQJoFCfF89kbNnd+VJnvgCruHe0xg2zYIZw6efV8cMLWaLcUV7+/uyCRCvzhj26jYaIOSJ33xQKcGTVoLFo4yUSEFnYwYX10bay8nWQvhao3T0jJMqnp8iRJm5+zUFNJST8lD2zxg07UfzTt8SNU0780WA9JHu0oS/ts24xrAvZArQUNf9kBLZA1zF29+5jyUNhh79zF2lD3TfS5DRBgpBcliOtbHIZBN+s1rxYqEH7nQPulNe8o4zRpeiLkZPuTPvbbbqM/7713wArRo5a+lRrcNKPbQM3hz2wxQcqZvCY8qYc2kdd48h5+VnGkW+HWNuJ9TQNWIG9c2GcaLdakDr5jDA1CMO61zjwzAQn0S3Tfi7UJvXVJcuQQo8bReyxu9LuXIUhwjpJ/+fu6Jnf5qdsFahsfFy9VJf8/l37UwJnixsUpu51jDB3797z/BFsViddHGRHvq2haoyg/9dJuBJKExMbx298lRdgxg6wwqRSVWGmzGN3fpGT6JIxAYqAor6bX1K0Vf+/vgArUZq5OeUpu6UJc+MGPO6V99ekExnixrmybtx1QwnEgCwjdt8ZpkxGwd+EuKswc0QSj4+EJBqt3sRRipuyRUeTT96ETMtY4SMJRFZ4lmHGJmoFZNhf5q2qj6ukn8lpSFrSe7F0IuCeE8kUuQGm4qQ5DT7C1bhVV/9y2xZv8aDR5kDrPUjwnAOHRp7dmnUVplZ6sTCNkNzWrDVYvKqhTsd4mIGseUTGx9lt5UX88803bF8pGfm6Ub7666/X0jL6bX6AL8tOeTo0gBTsFsF37egJcBo4iUMDD34PK5XIOPHkGtVvWeIWDzNX0DNz2xDFy2ixrAv8OCrmQngRP0+kbNhzCoitPcXHTHvTlD39tZz3ja7ikl369E6UJzTWEje6FXxFe+BeZ5c4KX0j3Bk3hF1Ur5YATNNodGi+CCRGPOFn/lb3b3x1wrq73maLCw1CQHZ19lA//VIJAwq8klQqbh09Dpmjzd6ZzyQtjiIlFvASSEA4OJKdSYmugVNodZE2Txg2zm+Fqa0FHiUcg9ka3hrf588//8fTfYC60+UD2zXwpXLY3f/S3rKAHlSbeV3FMkRT7kAacyVJnccFSs/kVMjtF4LG8Jponc0MW1LXAAdSJKn11bze9cQHGVm1sVBTGHlCf8/b2xBxjtF2IOOEpigMnug7j++2zxgkU3laff//PN3TfVgG/eF96KprP/JSu8WkUHeUr5lD9UtZP02g5U3z/EONyJcr6VB6rAvBBBD13tbbtZ9/Noc0681KHvh7755uETM5nSFt5+/w1hz/Re8tPeixQfy0KoXzOxnsKEo8CgUDSsiUGD2gOHJOG4PHOHHORfGgpB1jDgzDx7g1zZBhZH4SVrGAtZ9/VqpRn28ur8aDRLro4ATqgzONc9/d48klV38kHVf3oEgMnzpE2OkXnhpyXHJq/lllH+7TKOJXgQezxY0bRf9d4yWDD3dn6sjngyG3bibjVWEAImDuWPIll9w0gEiVNe4vQjNvjQGK9OzC+razBqar0prf5uG8hZ1kWLTuTPxFBFF743G4DI4DhMb6nnR7TM3GFJODRre4g9karPYA6axwd32PTHxTtJrfRP+y2izocAAOjJP69UpY0rQTXtVrevCvA6kIzHY9bOIC2dJZkjPuTIgZYZuEk3b777//bwsv6DLlVAmb0kr0pE2TT27iCRv0Ql6lI/7BGpGEJRSVLCps7k29g9kaO0kUxLsfPoKnci3TfihMHtmwsW1oWnHq6zYv8HsGWIH9HjxcOXHON2nzhg2zxj25i+la3haPdteo8ENTFq+gTMtHmmCpXu0eMu1maNVx1w1Bw1grvQZmvhqvnMnzvHaZOOVH8Vh2/bVVVcSIGqIeyB4kv06ta3NpduqZP2vwgq6kVMq0Mq19iDzpnQXYwg6axykVNc8PIktrxr80QouwVbtqq3b37sBrFEKraKi3wZmFSJzhbaHmoSft81AwrAQnGGzjDLdiDB379kyDNX3z5UW0ESGGuBGOktzHurOdJKzTZB25isBMXugLFxpEOHsdWZDQ7zcxoJ+O4TiCFOEthCnw1XiOHJWgfixQgaNInFSsZFPOPLca98r4bap1+vy3h44hTc5q/Do0G5a5i+jkbDw1ugKHad8shYNusbnB6D1yTtK0wt01KALWmKh7/99ze5i52jtB+WP/eF4UxBw+bCxhz48YPdOlMUm4QpuOeI2X6CR18kNX29j+/krPWAnARXDCOR3H+QdCOrPYATNpf4AF8QHGP5fuKQNcQH9G2zBzbC1xF8+DQ8WnBabpGEJMIiesQdXu4iUDla3Vp4kLGFYewBBrFClbNLL2rvgDB1jEoPI6bvzcn3gdWOHQ+//bvhh73r5ahC++VKSOdIuFYBrCBrFC3lbb3e5ias+8ONAxmtUlF/ccZIc8UDR18+lbf4X5yG/Jspbh09Vf//4yCRb//+U4lJQYyxc1lnL5FUv9TuTLHufDPbRHhRdyFMwBX2jDAnIOQoQP1UB6rA4TNe8VGETsfEnd9+wTlxaBeaw6bx4f23vcgLWrLgCpv58sW2s11CBsEcMRxfRYlTtYMKa0HgoVXIJLyOKYiaz7Mdkl/998kTM2jzhC1zhi3riv9cJmCBYbD6668lUNJGzQcJqk68wiMiHFoHcqzyKTiYXZbv9Nbpvj8h2Mf2+VNpD331BY8bR1mV72rJQvB6kDs1zxEoISPoyZWgJBna+xwFdj3jlje4iWyCRRn06jO333cJVs6sKMUjaLdaiNJcyCVNNrB1YWmK8aOGLZ4KGaqfYwDedu0hS2lU7UpuGKzSRBjAQpA6UbxBB1996gCDxQeyKGZX6/BLXAB37zf54EilitPeWGCvDmhTImYIFiaCRBse5GKADCjt54qZPdEyCMG6OokFD4mJTXwT9yqtt6dFy8FyYGRKrVh2jpghDBnEkV369Z179sXsFaQxgJYgm4TJg2yxDxJGRLWwrilpwjBwQvCw0+rcHEaxBpJ2FhVFDr5k9bh2DI532xXvc4ET4/L4OQh6+BFKkx1kPvUBrPX0jNXy3hx15SsZdRBsFZddRF1Uz2HjTRyPIG7NT2MdCGcMWewBqrvUtZx1w6++8bl3XcnFGP486ktvmciVdwCDCAfBUcHAGGCdXBWw1DZ2HR+cuLEOiHF4mSeLvplOeirPvBPTtZv16jQrugMncUKIsa6lQpGS27rfP4m1y7MdEZQF7k3z4R8ce/S4GuKmOIJGf89bfvc5mciVBowBx7322bNpd0q58dMZaZF7k/aDDtvv3xd5/lb3n/8NWYIWbmOBVmWIkXJAgbD333+/klTsVOq0KDfWS2pWuI1hzpm7U3S4NJghJEhDv06j+astt65iaWPy/p0gWKHbhJF71gvBu0kVpuwQ6zVcL8Uc27jbf5u1I2Z1d4UAZVkIKOd7Zq5U6ktvOMAmvK/O5lR29bh09VZllbzTv9TjaDRL2zvgxBhx9Dw9Ds9nWOeoQOlJ0kr0uGIBHiJKKVHtpuoOsJrfvwUp46HHmfmiJv1UH/jDxBFZQHWWfV/iGP5VrAvBCrwgrPY0F88kHKNe8bREhJF+0EG5swXXwBWwm8KGzcHlgJg7M36JWMGL6SlQesxw1QqZP04K2kg2hTrYDLeSOOofy/Vc4iS//lXZRe+bd3fwVYUZeXOYKtPeixvxWJYWsw5IkalXGUOU5NP5h6PUYTyYM9VvjJ6lV23gzHqfFmWNH4bLEwpwt1uwQovMpd5jDLdSuBIEZIgZeFZPFQXAr6ZAoE6Upv6ktoTNpvc5i6g7afaJcZGgpBa3hr2/lt1jDX3PrWflKEFnDI534iQLIdEy8Vh2LmmKf/kyPWWIkAdGnW+HWH6W2zxgpXy3/bppp6gx8SdhBrFCOvKuQImuTJX00gPLKusKZwixrixTsfjb3RmXjcMcJL79e2GcnOCLllfdd8UNJdiQnh0/1QQouu8++ap48kSSHuVq3sfCwdrHqRIcyVZ09HifnlapWwbB1zlD37v1Qfq5UYyxQe0zfDP7KOYb0+rG3GYZeYWvAbGqGGBRiyh29VWiVNpccuARlD199Dx9nWyDbbbaae+//NRKoHLyTba5xRwt0Cm6UpwwwwxAgbD+/lb37TqJJSy0Mu3HEMm0MzVA9cJcwJUFZHJ+ERreM4VHKGwLN3/88EmXO7e8bHmSXsjtF11j3jsfF41Mu42TfEmXO9fj3X/3elEMsAf2/bbb79e5y0l/+EiHXBNylsB7I1mOeQjWQGQHOI4a7t//+19KXGYSGNwgQYcybNDx1aNJn0+jUuB7tPsspcKUR+JHuLQvO0gSCRHmWDd8bQUpO/7wvgCrRB++NJm3qggFcJiTXjNE2Tp169l7+bwIPPjV9LWnKSnfHU2fff77x48HGuK8q3I5DNj398xQeyxQYrTtkcfJAHXBw9BzhC3GUj9mSOYKnVH4VIwB6ahsBrBBvjBwBYwB5DxAuIa8rNvpE2THWELWQUflb3/bJ9DMdwgaxo4xQczOOIR4FGW+JmVdHja2hDzdExclKfWgfjxgUpGciVZu0F6ktyNHcWwLuxg2Lx+hFmLeoSbrImWItA5NBVR4jOevMhgpu+VkbDbNpd8bQez74403Jn061TRYqveiRPVPbRe8tp9pVuOmQOxekJdtF2i3T7inW4gmQTxA1SZt89bh20N5ok6yl2G5eIYb0CpcFbh29yWDdTxg2z3jlkfEyh/88yb48kVLEpMWNIcCe87URpOeSpc8VIEsdzxg+xMlga8cMGcwrWvq1mXRNujBbJlFOq0J9EqTEsPoja7i+kMNN7w5aZ2Di0/VGYwBQpSfy76+laVMph///bbz27lHy0X6xAmMlTJG19j33hv1KejUPLtmj+fEqFeiJQhkfJwX6lD61gzDpdmdmyVnWOiUIGZeSKGhVmWIkDH0Ur1diDLBBjCkVDyUNJnmCwIhYLdi3S6jU/38/ImAorgx7kfyxQwwattf5yMJH2/iaMM2l9UamQ0pRo7a0QLJzxg2bZ/A4aRoh775HvYcznIxfUVd/V39Le9kVN/+/SjXa/zLvwaxw7Y0jVDw1ArPYAm3NzN4xgNXgLcaB6lZmkX8uGWgIPS2a4tFXcDJSLIJljCwBWSMJVJe8aPcUJE2Ty+l4eaOYwobx29wgpv37zfCxByLGqLLXWCvsE+Vp4kNX35+VvBQdB2LDB1j33bbbjpE2Tfi3OwQoa3hz4TQq8NHcZKdSiUNJ/9VfamH0Mw133777hlllqySCNpqmddicNkD0gI73OWEnoAsPo5FyoWdShLV3e7Oq8XuTThA1Nf33DkFsFqQnkRUtZyOmvm6l5Km3bYbbbvw5iwBRHgR2QIsvsha3RtDx18tkFGXSfaeCQchT26Kn4i/tpUJWIGbKLJnWeIWn0CrApA3T7/++ayDRrdGKGYAIeO2GUSEMdahx776gygSMYQXIT9Wv9UjVt36l//7D01TJZMfsrtbBuYWsk/mcEUZP0/aA/28vQYqB155XYgZjjkMWwNE29y7UpxUtf9//bf5GuMmz5iG0sb27ja3EyCQvwEs8QlryNcCo6DD69BwTEVHuTLuFvChCC0VlnIDX0FMgxDg2TpE0TJWChTsCBrF6lD659QIQvlR29xgArPY/b7778aDR4UDiigSMiaDR7k1zZAEJO6UpalVt6+wwqvPYDtrrBkMJn0wLGwH001NXckQuu2TpCc229tF+h8+rh6Xtv4+g9gyeyxQd7iR4tYYHYBVCyprirkaDJrsfHnVZ09xg2yMm/N8fZK9TfW1Tg1hz+63335Zw9BmIF4yntOl8L+BwkigtA738bQ6kVKoQELRkDt5z99++88//4GQuMElKt9//dAxBodEyGIMnqKmqOiNkarJOPINHXXI43G4586j0+b1vNKVKLKEnsq0syhMXrjDB7LEfMWewBWwtA5tSvq8Nq+t0929k1kvBVFsj2HctPCBTDDwBIyxw16UrCq0swUpE0XKnLwzRouwObCMKKFjfi3TTZA1jtF2ciNHbh4MqT5og2yhKXMXsFtF3z4Urro4mdWQHA+T3sS0H2rJAaWfyM9tFsgsvwFkaDQraxwgdCRP5DOkp4imeVSA8yvmSQezxATIWnOYKzxh2eSpO994442VV/7Ee8bR1zFCRHgfCQfGcSIGmOILIdiMHGWGr2JmLidsy5rSvqmqkogsz3ID6hg2zvy3h7788yy1TZCVYpehaqtZgJYWMcR8YjuXiJtHO1HyhC21Co2QuxTsfjw5i+kyChUitPf4lJ6QurJkV7AEpiE1g9Fy2hOLZV+HC4Ykn0UbGPGo2PNdqgpCFpEfT48UIll/7Ff88V71Gsq+3Fy+lppf++lVseWwKmXEYHJYAYYCXq5K8//FYEsSpniP7EeAOmqUiEgSUNWIIVnxw6ablkk+/EyCUmnnHanSlfjESlb3l/ljj8kTM0k05Qkrvh399zyLHWB92aUQLYbMpn0hNn5aFCDB2zxgs6RHCw1CQvCaC7ja7969uROdQEA+ir8iJnqeFS+kVZID/aTGRvlD1jD98iilHc8kTHmS1jDBp9Ih2pWvUtmOKWWnavgG4m4XKXKiJslBwrDUfy729bF4e+iMvBPvSHoSXoUuCVsi0jJW0TDBBBzhs5sFaD379wwwQaZXkkghVqn0Un3qLoN1NdugMnug6aJm0R9/l41MA1nEeUlfCYdCFMYqCIfsixrUZq7VvhlOi4hHESpRe5y/l35+lp5vLkB+IBmMm4Ntv8WlGewBUtx06KsZPm0lVzfZ05VE4hLpdf788SVe8tQqsejwfPmdodibNpncOV4lOmWImZc8AULJOPHNm16bV3Dw1RbbbmbM2ZnmCGSS++IJ4+xwatJnctlkkilQemuOwaRo4pBx1nc6jGn31Jj19ZiLrQ2gVt16ZA2TpE3T8aDRGcOIhMdykpfAwwwwNZz2lV3116gxWLrytA7t4aQei+lUAgTM9kxqOD0KcfIFZThY0vQXqBLCBxF161gWMX7APMicMMIkIMJHQjuAA9jFHKLGwYx8oWPzoJN/06jVz7g2tp59ax29bFkDB1rFMEbL0ar0OvMOf+i/l1t6toLOai10Un2jZpiEJNB1jF9//bsnW4ly7k1H6Z6q+3R3p4snW4iUNf588UJHExNE19iDWXIzBqap0hw6aqIdJ4VH8PfTMZ2bgJYgl//9j+bCxZq5Uhn/Vm5v/vl4R4VHsJ179wvBw2dzhAAoKlLFbDNpdyill3f9+bDaiu4yCRJm+++/l3veBAOmqUiMwVGnKSopGkZ6+bxxx//666/w6sxoQrQnEPJElU3gzBUsZVNd8AKWXQrAFsFsxrsfvxo4aQCrHkn8qnsC+IikMGt+HROcRIdy8kRLx7feYu8UdqgpSY0zhlZu0ZQFpMXDcXCIbh392RLpb//+++lY+VrA0j7k3z7klbhy2iRIWuVHSMhSsO6Upxw6auwQouQImveiNQRg7f3KF8gy7SlhmUkNeCXwTPx4+VoQomwdCSdmSLvhC4UImnEbDncCLahu6Vo8da0/VgnAQpghpAb6dyFMsAfM4/LgCrw8bh21Cw3XgIcwQouuQQouwRn7925YAnOWE7poExVFHuSHp+d4ZJIFfSpOeMDRrmAKHJm4UOpL4yk6U8ppHyUcS2lUfPu1Ye6Dm68HbyxIdIPELX4k/yill4YKnPG6xQ+bl++99c4lVwfD6812Es1zll369iJGcKj+UnGOHGOBVmWIkFY0zRXqFCDz3hb3evAxzhC1EILXXkTge83T7jBDD/3444/vjJwMEYwBwxY0zQsvwgYqFU/kbgsvwj3zmqQnuInwTHuTHmTcweFg+3/88ijDDtsrX4/NqvQYpf/++VJnc6GqM0pnHxOu4BRW1zF227Fz06jVn3Mfpdap0AorAwBYwAGmcJHSx9lZ6DY5DQ7D63Tfi19//lCYqvQ+9zrRsf/al0aimYQ6JRo6ax788yyyLoy+Vz7Jc8VJc8TuTUQMCWzL6YI9GFWWx62zbDZvKvBQ9lNdiDj3H9D+ja/ktFgCjbNodkJmEOrKStf48Nb37b39999gxFhTFaTvL3KuLGxOkj6p+48vkOI0ggLe4qPlD9/E2LoPXJPe5SouwIoWdGNexIUZeXOZKfSfS03RNLQvBGyv9HKK+lxxx1kaDSrqSyMlIuCovgCryRHc165jF8+kTFzinqwryroygjUs/lhhhfIbNmWIkXdGnW+HWH4rWVGuLOxpd49//bttcNaC5IUT4+RoytJncbp4kLjDBf6l7+JmmIHOY0bRdEyD33ttthg2TrVNYOXWLH0OSfJ+dp9rOYKnC7FyYAnOyQe7vLRvqYTNlbtrr3b37wrAQw1CIcFfeV+zjd0kNt7ncuDtyx7gS8YsZFy2hjxA0THmuA1b9RcLL27o0cCCqNddUXeUYwCgU3kan4jNWqQIAIn0jDBzh283Mu0zRY0+Vp4iJmlwVWyWxeje331jv9UjU3lax7/+SnmSsFsF1jDBTpE2jJu9QovQxBFlbte5Ue+S7wZDWchnqfFNAFZPFOR8576+bnSsZNp11BlFhRgjtX2De33mbAIkNmcMW2jt5c8//VJBB1+FVpdmOy9y+DuKWFnSFsnu6S8//9ebDf+zBwbZ6Cvwgs7javClt3/d4qAcQAsw+uKmIP1Uj3LdsZz37bf5893j3X/3IAOmqHiZwVGnKSnpugsv6iYPK2+88WEENvLiNcKSHuVLEpq5UWqKmmqZPxf99zz8Vv9IujZC1t7eeYj//lCD2F5PEehZml7nc4itZPpWEeK9bB5lDLeirFD1008/FCXq4H0oIOOhjXqSdxLpd0gTMsCgCHbedImyRVfppf82hzf4qV2WmpaO9dvLABQ96+60Ov/Vr8rqu0kVrqmqHuVn5y2hFCBrKejUNJLonKWoSXwTDr5kExLERHhR5DO7UfzYPJFcXGi+IdoMYgBY8IkvkbhfnLgxBYmAixs8ugNH2jsFYwA2TJWEpiho4sPmvFlR5AI9j1j/JpMP2YNg1A1L1GSShRw73XWQPZW0jSgSMALHWgMnuY4aRtIe77qHrNlFatDxR7/8OvlRa6a7gBwEq8lpIEDI+Vp4sZTtXqBL3hd58+JHm8DLdCw1axY0LScDj/iWyztyfFy3f549M9YckSetIOLGDrHmYIKKGtqy2TtFZF061CGcNJncOIitv7Uf07YTBwyLek0XHQsbx3jdiXq1gvXKOxM3z1+3hv2BrBBkDz7169jPGn43GcQ1FpvdALPY0vaXK4woGWKHhs5aW4iUbDpd4u4jU0H8VuOmhJghe+B2jDDvjRufF84SMfES+rR+n/p6+w5iaBQrAa3lb5/HEJW0TOIE+h72EfqHM2qi310gIPrSnoHOitOeowPeaXcyVNNodOqZP5nSvxC1jBTZ05mdE1Wwrha7U3o6JGFJb379itTfo4wQ7U3zPXQPy7TfCBrFjDC1AwtSfi0jU3hyaNNptwLICCIMctW5sR8mRyKcRJA1jjkaDEiVNdgPXLcaB6BYIEDI7UdyEumTwgWL8EQhBAxKC0rw8MH2I9UzMGeMn4lNaNNpnm4jUsJGGJy7acluLbRA0zNXyCbDxn9//RMsvmg5t8cLD9aj2wjWQH4kNpTtfnc0gLHiDHeJcjofF89VV/1AArPI/IQFfWcQrpIFfOIGGUpbG4LGNobWnm+HWH4pIuBIQvDa2hVtee+/BImAroCCt5/ldOqZ58eF4+DrdkLcJGFJE2SpYT0NNMBdfLxwiU/94UJm7ja3Ufm4aRo4OR0ajY6Zek7iahTre5gJHc+eCIckpekZeBWw1kRLofjb3mefwl+3EHpC2zxg0TIWq5Spq8te8/SjNX3h2zvwg2bf8/UxwwvSi+/3wD/YPp2s1fR1YWLR8TwWjJvjv9TFCBsv1CvtF2kvBGwi0zbg2bx375+Dr2icMMdyhJu6UnGKiDPeGoAqHWQHCIesAIojtF1IuhI+bv7HETpE2PojEQwaxngRdBWwLE8H7oB9en3W0jKHmnXWLGABcvahs3A6tBmydbkx0+ta3ha3FiaC8VHcJc+VmWSNSnmSIuBYArQek/lat376YglZsk28d+bi3BL1j78k2OgV3Q+woMMEWIGESCQKp49VALJWyMNJEIQ95ceLWtNqePLVV/0AfcnxBu1ZwBW6tg7D68KqLPpYKmmKD3755gPLo8JxqPCB9k6776gqvII9lbgIm4UbDRqIg+THOPJNIrZ4KGpq8EPnsKQn+Vtttfja3TpC1qFgYcd7Hp9IWqRkkaazikVMUZq56lB6sAe2jUtYc4iVm7d6rp9FkRIav6jtiNHcBLZAbNtfmS7bPgjVt166jMrzhY0a4hFz27F48CPE8axvWgLW0Ur0qPsVfCht5+k3zRYqvgD9+aabJGgpxw6a9111T1CKEXpO5sm6P4BxkVcNWtoS8AGGqqiG/sX2r9AlWFJW0LGCofB06TJ09VZm4UIouoOgpYEYoZ7++MSsq9tC1yhniRnixxUfy1gxxg6a3xndu16btfBxrvkDr7k3T7myUv0UXBK2se2De4KmT52i6apueStPEZGEGWKHBrFCHuUnvgDLeyvQv9TFC1bp+x+8bVfKoXSBLXAMmeKzRC3z2xD9+/jNKUZxx78+llx0zs3hHm0gnMLEDr5kYqxQh7/9Br9lx9lxDBdiKnSZW0TJZ5c4ilVsZZfbNC6iH28C0XVN7TAmnBYE3poYFf5oEppLpg4C+oN1gCTpKdABLXABzDZvAurKGqytVMjmMPgktx5z27gJHc9wzBxccPJYQ4OruMcwmoG6tE5ECZS6Ubx3338NIlJx6+y/+aopc4iVQ5DQ3ycwmq/Q+bDxB65iIl3fOXJOEcAwlGmK8oYuwgr55FBDfLEMTbDRpEoO+VfffdSZK4K4+lhhh7/77xb29thZxhx7K8HmSLgbDx1y2hRkLddahs7ka3lbpn07ouwQlNd8Dt/99iCRL8UIkA85Uv2UYwDC1TXABBABLngaDx3gjI7PRHEIb4N5pwZM8BeScR5Nqw/KFoZTGN7m0cNKdqHOKJ0IYG4I0jNXGuMmugNnfv07O0kUXHHq1QnXHc8kZK9VHc0CRLmWKXNH5DRZ09VZ0zQsZFbMEJH0Ur1FCBrmEMH8lNdOYOnIugHWQNW6VYAr5iSVVecyRVZ19XAOHTUtZ79c4WQRdBQvBH4kNbNd8FSsZCvbh79169Fxx72sAwsOKlOZP05SZq4MEZBCBrhZv0+3yxRQeyvQZ08tFxFNAFYEBvUu5OtZOm9cgec3HyQS2J+De6DZ6CFJnSfo5UY0hTsedEyDm2x2qUkSzxg22hTttf9/NpK3aAcncMGc9Nw9ZwipVEZx1w177733CIcCnsNNpn2hV3++girB0wTRv9U5DU7GmWUNJn0gMnwgqPGGViOmKSppHov8IGZePTJx9kbCxjacEETvpYyoaVt0pZlkCR58aFkDr06ta3b37vzbbttpdm3RC5rjMH4kbspXursfFrrFClDMhOPnCMjt5507j7XghAnOIPlRFhVFSRlCS4XCwe0bR1++lNrFCBrjDX3aFOymIObLGaDZGgZEh1O/aG25a6kRPIFdAHXrSHngxhgDTjbGZONvBGPaUYWPlbdV4uMPdkQCrnF8OE/NGfqIMGdMDLeix6+bCIcaRY09llw0BwbBgJYqQWg8l2zxg09VZdXLw6wwsvwgqV+xf0qWT8WbL/oH3K9nYRYlm4eMBIwBkHikODoiJznpWKJG0QLJx1696abxk+ZOqX7j/sq0svah25mdEeFTsnWDL/ii5f58SiKc7SSVVcWPU8260rJa12NLN2JoGdSWKJH69Uo33txR09SZc7JQeyvVVbtq6TMpcHlG7QVLFxTJW0SjNX2DRLqItoo9Dm9ZaqGmqIiGBVmWIUWPiklUtXAxBre8kRK3pgUout7//lkmuIGcRp9f5yewBgyQImwOGhjG/RHERQBY2j2tpK6t83o8T99885133aNf+D0etbWvDHte9QJD69BwjDr5aBwzbtJnmrQvZK5Upu+Vz7k3h2rvYArPqirqUZq5vnz2r14R6B1uT9oidCOdMGc8V3eV7Y347Fa2X+4/rqG8qfcLYQ7brVaBPuJ3lu9tIvhmd0Up0iHIAmEe5V9UodI7GtNyaKGeVDmAXYqAowrvrRn5R6+MHDd9lB999jDKdKW7Ufy7U7b29bhe8bR33tybRe9Vu9L0P/BXLNBeimPDEU3gzkVNpdiQnlGR8Ncmq8tUtf8/g9Eyy043GTVgwcoIuImgLnECLXA1llx0cSHGoAYIOSovA6i2hToWr5lD1jALetIEtkr7//33Le5igM9bRdGONbV5WYGWeV8HQtcOHVQK0Mm0MXqFb//++/tf59bg2uov0EmG6kRu6Vpjj9+HHUSuosw12v9//pq3T7k0zJW3Tdk4NMSEXwlZMWeMXwSdge8rJaToE2Ttfvc5iaXOD19lUMv/WWIv7fu6UuJDaqGmcJIyxg1TPvVz27jb9kxBGuKG+PcJkpZfGmMGU4VmNafKqu3GXqiAyhnzKUYYGGa78c4m7jLyG9Gn2ObFO+drtccMGdeB2Wn2HKNujJvOXuJx9n4bKjRThGm+GEN3mNkOTcID8WMMPhm3WDHcyPah29e5i4iSMARSls8cMGuQIwFUtBvCBmEaNF4+JZ8EIoM3V4lJ+kMNN8RIcafz7B1jDlz6VPItn66axyxQevYArQ+++wwdyhLV0X9iRtlMpHrRre4Bo8Da7a7mCFBQvk+9997d48i7UpwuBQxvjHDEdje5i3la3TtDRPmWIGZeYOGQNcQHVLLwgsxQe8yVNf68j+9kAsm9WrGOZIEfVp5+cuWPGcESyRC1HZDJhCdyeyxQBw9klkxAQFQByyl9mrNDB199zDJnWmiNn8jdgvHtIJJaZ05Uxw2z3hTtZ2Tpu2qhI8FkJujJjNitQram/0qoLrl43X0VAFdhZpONOMEKcIC95W1Pget3A8kJPChtHDGHpLp0EanU2LzWA8XB+IsWFnr6UZ5nSHn+lt4JHmdciDMPpOf09lD18lKnTmIXMxjb3543h155kZtvAvVSzaHi7U3zUXeUAIp08/V76QUV/V39Eg7TFcySc9xh2dyhM2/iaVNVV/+qvQWWK+EHRJ9bLGvrePGnV/74E3HcSTMl6/Zv08aCRgawwmQd+aJnOZt70Mo0A6jUpX49+qsiQmWImFnG++eff/7xE4HGOI8WBrFCfy7UECLnj+/kxgouOTtkiABnSHpQe8zfi3TVtJnd+/hz9bh2/b3729xgoqWoIuBe8+FTbHX5t6Evg2vwzLwzo4yRfQZ1myToykfy7MPoEuQJm0kTMnAWKGICm/P1GGgJWjZqcQHTJJ7N4+LPYvmqL01jl02n0Cn47R0L0f3+M98Ro8DIP7rOC4MSGUGBu9LuJGEJNJdXpFpQNoO9kpZmbd/YCyHqSq29J3xpg8Tsy2ToEt755Fld48lNdiCLnOWW65GFpigUpu67j++kVt36008/RYqvGizdhcRK3TWMnAPXQHWgpggsvoE3T5lN44CNn3S4tOi5WioZHRpw/VNNN59//brbb/1CBBDBDBWO/vb4yTLuTJwj7a7a/aghheEsPuPcLWXHCrzhIcyRl/fdd7Y0TGXHYV4sdJi3TpF25iwB8PsHWIJ/LjIMJ4LG/mUSXsTwgaxw1gabDx1QqqTsVX5jDB0tZ5786wab9abDZ6BYPYArxB+/Voitd6fF0LWwGGKMrbT4VOrKytb37t79+yModHGKWEJuhCnueS3T/lNNNe9kbGmQQLe/lx2wwww2zzhZ01UrAu0gTYuqPIWvQAqwrggrvkLa5dhAkNl/ccObGPrSFbtn7dKwrivoyids9gTYwWQHmKgpmhOILGuLZLpu9lxkINORFtscbRzwmm8GowOmIXtaK0LevH82hPo7a7ziRx927BvNX4jYwAWWdStPYYWYXABLblfee4SNJfFh2g6wwsxhzs3hz28tdsR0LXgRjlb27D79+yNutsiIpAFf5yeFR774Gy+1EZFtHTR9W85qSx28bL566gCrY5lg29zpMThB1DD+/Vs//bwxxw4UjTbjYeWWIJc8VNhz2nAkNb5EZm8ImAH6GBZ4KGpqb0Mx1FgBrk3ialVu0gT1jDCqoMQfXKFMbbVUU3VtfzBwzFsFslb37f9//tdBBXBOfA1SrA+eu+PMZtdELnugUt/+/Ro4ULjDB4LGcMQd4VGjmoHOiDKdtA4Nc3wzBvaDr8jqSoywQmEVNsdtF6lZ6kn0ksrvgDF29o+//GPykyHA7aRoAr1jJAvL4Tg87b6NFZGEJGFJvBR1PyJKSz0r+wPWQQGSnKQn6MalLGwLZwkpQQvCw3KTJ94p4MmGKneGBgFdIwg99iFDNeLAKGJd8IcCg/pc4iUNJd80gPI/bf+jZw+bx6+bx09UZtFciSGcfS/VRe4afaehQ5VPouwQVbxuu8aDl+kSe25VL46ktvaPiN5QrLu9NiaDVt/lllZ05UHqbchPM4R73rC89oyEQImrdiDURo4uESMCPbh9/A1NZc4SMMnuhx16+DrFCHFsgtJLdjDWSJG0kSMJL8+VJGcKHE8X4ImleNWOAVmAJ+SccMm0wrYqzRC7Tsfi2hT4sxanaQPYWq/VRRR35+lrWwBgBYvggshzw0QYqvIksv+Pqvzxg2jJv91QnXS2hSoO+V5/L4p+o0OS822V+zugJD603zc1wzBwLWDR9+/iwBQ0gpilhy2W4UJyDLdBkaDJr79sdCBvhrDlWsPX6diY8Biv/CsxEKimpSL7JFhGfJYND18Qn15N7uGBNwOT0D1WTZhSZPGrRpGWSMnOYKFMXqzRg21zlDm3QJ77777wabbaxa7y7t8/MCENPHRvj398PoMPgZq7T58+gitPfe8tO8tQkb4Ql21rzbhjocGDviV/1ibNnd/bf5ZA1TEUOSt5JwZk5PJulp5UWANd+/EyAQl39/HKM6axu2hjv09UpXsvug4pYF6jVREJHoE2UDRr2gqPGmqApmFJKKGbtVmWulGuN8ddmSnzUtZ69EygQ8bHcyykIaRdGOVb744eBRrzpE2IGO0zDBrFgCzstZPsPqlv8WoAYHmEL//VMNv6ltW58Q5GAIZGWuLGvi+1KurVh29yRIcp/++UUbb/4eC98HmQQuCh96AesI5+3Je+TFsH0G7cna1k9X4XSfeYSOcsWeAXWLrYrSzeAs6oU9uAJ5j+kVWPc4WU7NIcGDIWwLStte5JlllJSyROdQvDO4tPStZ3F0jHWBLE0kVZudSjMy771r1Mx1559//a233/F1WdRmIpIFfOyDR8hLdZ1qh5JNozLurSrqIdEyUNhyMMRUdz5j2mCctS1sZ506jktYvkNn4YcCI6cwQImEV358FCAryZLohnwRfCFb2xZvpZlkkMftH4LGON0JFzwJWIJ/SYICMSUcC7ja9koxx9Bwa7w6kJckt8/tixriRzlZ0fSmOSJC1xg1zhCrvgCbkfigpXABLALHWg6axnoMmBPtKKoVmUK+m8Mm3GjHKJgh7kxwUtpc4SsZPfy5UjDD1+z0UrGEKoYa9/D1LWmKSvqSQG0Un6VZ6YfqcSkD41Rlms4NsiTGh2H3ru/l1KqkvP0ttYUIOKcsK9YfOGuqlI3W8T1FYxN7KO8ZfLg8/VRR27jb9/l35/L4hJEhXjNGcSImuQHd48F5kDq9sP+fAwriaDOreJ7c8KXKXIdhzmc6+JfT6VD6wwwwt3/++F9//ataldGwrivqSyLZne+qAImuosOETtpc4O0hTcENH9VvjRHQv9UjUtDw1QrZgxAgdQim3glPuTLux7feYqHGGRZkWeIWvcYu8IKWeN8Vt88Do8C5ahr1jDC4J7HvSeHOsvwg8bRe6abxtFeiPHOPpAgZYIZd8lLgxlhUtZyqY77rOXkLWmL6PpSfSe8bp8brjtX0UJy7MccMMKAPkCHERPgJm8VmcETtfvfP4/Ni3j25DU6xx766EiUMUDVsnOkN8/r8JST8lNcsZvf4dnzbiRriPekt0zPYF2jtQeyxtA7t6ktF1zhMFxV1kp2jZm8QIsvyhSYf0NCtvDK7V4woOPxjhQP4/JjPyEHEFZfHUHG2aGS/YUrtjziCSm6EHAZeS5tSt376IAZiKTi+mT2kYKrPekhTs3ylxjSj4KR5+Vo88iEhARq9zgnAwaVNp8+kVZyvQAsp0BnuoAlp40yEJOhXgMYf2YHtVb7mghDg4aRo3hz3m2YaaP8RkH2W/1zLqyVnfPqfF/x06ZHbQcWIkDwGDbuWIUYvWQbBFsXqRLsevR6+bxUf02ch4vIjd+TLXACzDRre3RndETX19+7jKejUhT++tknD2BjoEsPoEsOsZvfu5kDr4UGGo2HJNnPWyO3PFVP4VJfID6BY5klt02o0oOmO4Q/k3TdiC1axAwqKGuMhs1zvgCrXAjM9k/ioOoOIGmRg2zwey7T37Tnnh2/b6Um4EiQK/Vf8O0kUrPYAAQtA8kVNifminAPd8aXP3PVle8axaRoE5VsVb0KiJqkrAuMKjwWJPpqAKKyMsQEoT803HsECgJYgHhqLpyxC1bhGmWUPoEsV5qOpIOOmMOh98yybt3feoF2jDB1j3WTqMiWHrWB/+astFiaCViOpnJcYSGcxQou6l/58itRe1gzDUfy7+fwtG9PPgxDg4UJmbDb3HmiNm+BMufKvQCtlbt2tZ58M88C4DcIc+jTuTP1Ud2gfwBYwv6ltHd98SMhSMHG1HuLGOK8PAULJOPItHg1C29xgas/lboTNpwYtv1zOSc5MirWwjjYuAkbCxWTHbNw9bwgs5yeFS9a2hYyyRRYcO1VtFUHxxBgxSWefyxQYYwBf5yd5++23lDd8xQ2zN+K5WoJjWWddXdHKw9DY6DWWcA6p0gXYwBgxRY8bJcqPEhLEYwCeaht5fv07Nn4kVH7VeywQYwDs5+lt5ahg2zvMX0kDrFBBBrh+/bbbyhMdZIgfxQfSeyxw9UtZExLERvlVsfibRIdy69gzre9l1sm0ciNH9lD1IORO5DPisZy6UouAow6axp6jHEBI4DG4OKUH2WKMeN8McbO3h968gTKoRvl7AHkUmSLmUNNodURLo1KA7kpuyMfATWadJuQZq9VLodjH3pDO00TrFkCnW4i+++cfrAvLZT9uTtCR5g7y7UfCxLqfh948Vv+b1+arAatnc4k3hz1gDLeyAwtG/czgxFE4miBoyjny9sabbZFncmYHWUJr5iDriwMDHcWIkgwGIn8ImZdLEHos1+bZ09TtfvcPPOjrgJZg1QrZb/32C1jDB+HpwjVvArTZV/fcc1a3hvr+38eU+YmAIvlRdZHSuBGWJFpn4kMRLe9kysZPOfu5IUYnOID5HcJ9p/8P6btnb41MO41MA6bBNG6tahrFw9DC19l7+/zhC1yhpAgrAtt58sAQnCPbhe8Co6rA6atZv2/jarBXAhL06jQcyRGhT25ibtc5QYtPWro76ZzLv9THdR7FGWEdA+IeFiy2hjx0IPTlMO3Mw1kbZvmcWg1Cq6EOk6V3oM3KEbKhh7fdcWilcIJ8v4ksvwFRre7z2xAxTZABx0ePsOaWv9ebaConTegZUCfEyIBRrbZx16+eybRmcEVGrgeuwGpbdRXfQvA6gTImu0kVCrrF4k8gHGQHVLDGUNcOHVOAGEFrKusqugNnfv07OKAFmHp6IGFkWIkGKzrG3maLWnXLDBdihMdyxQ2zUfu6zLuziFHt2mrGw9AIB0cmuyIwdyFMPvS5FSoWX2npnKGkMRT2WrOWU1Nz02m0LKBdLdCWt9RLdWBqIci57l38/Tfj3B1jDg2zxWAIWBXABKPIcxd58cOJG8BoiDn4kMPourQvbNNpXtjNdCQdmK0kD9QjzokjHFBQtZd5irdi3IVSkAMnAMvwgbRf86axw/a0Lktg+bb7h9++liMIHCc2+1KjM+Zn+kUVV9gaDFaDr0krAuBIuAgp6Y4tnEDepZmiJqiyLniCLv4/l/6bb/66iULIhs5ak3a7wY8GQDbLU++8S3f4iHpJHELGtrwmcujGOK8jQOu6Ufyfsify7MemLuIGP9qcWYEcrAvBDLd8/bf54aPoB1jDoAXIv9T9lNciNX0jNX0RImu6Upxc9tm4SXoiqleooEI5GPBQFCjt179/l6rAInR+W29SeRUR2giDZfIMrcUm0+qmVZ6IOIcCo8rq/bttt2hLKu1M43G4XwVXyxMAjGd4rS3UtZyzHJI3zxEwLGwLWwNXgNwbzTryzrQvbNhzsaAw6QXJcy8aQIpu559//aQRRcOJG6ML9wsobx5+1wdFfi3TOH4kt5hzJmbeNrXfSHmSpE2TTZA1kDr5XI8BlIOEbGOmxcZkECXq5PjlloqWIH7BkAKmKSmpHev8IGZeTIOYogQpueSoOrWwrg2zxBQvzRg2BowBFwyF63W6vBPFC1zxhC3z7k0zLGvvTPw9bh2bxe+RdYuzRBCvBNw9NwWCH2NGIKNk02m0AQIh2JUcl7g3zfi1TZA1TELcFFLOnHi/n0HkHOGWeyxQGrFd0fqIOU+PxpNmLhUmx8Iw6jUtR1e40TYGp2MEAwtSfi09iaZOxr27Bw1g1jfilUbCxgImuT7SytM5DKjNX7BgtFsFoY+0bGq4EIitv0CRLw1FyeEnOENN40KR7BULCw3katDx6jUtcF8Mm8LIunEY4ISVtpu6tY4AIwrAQunncXTJ4rTAvRYXeV0wqwJ4dlJncf///NT/l39EhGAImZfTWOAVmAIkXwnAQubL8bD1NZre5TInW2lUtHqCLogXYOwRo4tFy/IEkFGVwhQeqq6tJdc4KOfhUHdUBLXACLoEZIEJwh/0kp3XnXmS5rGATXmSvJHjSVpJSQeaxo4pO+VQrYzAQpAmOSJHckKPDcuO5J8K2KavBUwvA6jc6A6ATeHtNtKZApF+bH/ot3c+l/b27Y4aRwZjTZi33717Tfy7k/369Zz27ImuQLGuLHqFMXqFMXiaDTHwzj7k3moICRga83m8D19lPektwwuwaBcUor+IufQB+oItUuwoR7/88tbbbklb74/7R0J+i3W6tBwz1sm0b/3224ETM1Ww1EVjMbGd5/L4ECLnoEsPLGwrxw4U/78JLR2t3Q97ZcRJSNz7+flllVVBB1996gCD+blbJ+A9HGP5euKQNcQHVR2GbTdoyjpHcYKqPOZN4928khUvwis0PlG0ryrqj+/kFhLEDB1jBrFCDI6DYwA6UfbNd8jNXqh6+lsd2kfw6svmxmLJUsJEH+I94ks+qlzfH2QdsKQnXKXK2TxgyzryuHsk1MCGWV5RMGcMo8BQZq5agCtH/FEz+8Hhpt/s8Dnx166jTMqYeA5aTHv37jx1fZllNJz2RI8bp5msDglZ1jlDF2FsDxncmiBoYYWYNu/Dtjop0Co2zxg+bx5Zv051iNI4jUsY2kchGIwBIawl+lt5pX07LohjkKvWw9BDx1795PTVsvahz27jat37jwrAonbB+9uhnsNk3z5Zv06jUNMom4TJkDr5CBqFsOioHvoElgR4lV6CRBbkkUUT4UHmC1bhnfqvIGWIkZRGDVuWIUYFugsvgiUMJZ///RTCwfAzfE0t6RgdyCMdCUVMpBaeFOsZq5TERKFXBQ/DMceMvwgs//3bl4iVN1gx1in9702mN4mjGaLHzVhZgJW6tF6WqJHpdmeBYpBmcOJ+/lbJSL3OI4PMu7r69kxEyCVdgY9YJuzkpoDEhVhxx7++kVNocSHG07A5UZqPIWqQniRI9GNE9Dlllhj06jOky9dpMLFlDf927ToImuRkUNAlUDPq5SoXAUZ/z2o12xY0zPYArH07jzZD1+b1kogZYDY/6q0CVXcMmdKWKJHu0IHhC1aXYOXn2Q1hz65iajRW0OJ/rcKm/F8IFu1XLN3ffZk/+kghX1pdGWQHWH430OEVmAIkMDm8tqGm6Ufy7UfyrKwr+NQ8lpD4xBQvLGvLBrFCgsxwfFy3AXWBo8B8Vn9LAYyxQ4rK0z7kDrdiJSF2+GoVgHiIb8KwVJMEDw+bwgq5kbXuArPYFshsrIrZ+Nf+qfd9IUY/GqBXC1zhbB4VhUt4inGRm6Qu5FdtIOOcsievA6la2RLpcEOLKutKxRM0uQJmz99+601Ta9fiDJi3Tfi3T1GDcKPRmAHWCLnEABMnAImyj4ymoLwzpuaRy7g2nr76/crwzBwb12jqFNf66gk7j+/a6auI0BPyTzbg2rwx1lEe9n7iVnXLKdOYXu8kVCxAQL9l34gMntVtfv05i+hCxBzjDB3K5NsOolCkiv/+/lb//VVVBrFCp/viOXGO5JKILZ4KGtsCyRUfMfPqYNX0zOkNX2LnuBQvvLQvkOF80GE3dhY0zTe7je8fS9VNd8lUfm6E
submitted by clavisIllustrationem to shlomo [link] [comments]


2023.05.25 18:00 clavisIllustrationem "Foresight will protect you, And discernment will guard you." - 26 May 2023 on the 4th hour

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
submitted by clavisIllustrationem to shlomo [link] [comments]


2023.05.24 01:23 SwiftlyAbandoned I want to copy this same directional blur effect to multipul clips, but no keyframes show up when I click the icon. Any ideas?

submitted by SwiftlyAbandoned to davinciresolve [link] [comments]


2023.05.21 04:35 ill_smp Hairloss Solution - Scalp Micropigmentation. CHICAGO IL

RESTORE YOUR CONFIDENCE TODAY
Finished up on our final touch up Session. In this last session, we focus on filling out areas and adding small details where needed.
Scalp Micropigmentation is the industry鈥檚 leading hairloss solution, delivering true natural looking results.
Not to mention the savings in SMP 馃摲 hair transplants.
Call or DM us to book your Free Consultation 馃摲馃摲
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#illsmp #illsmpchicago #smpchicago #scalpmicropigmentation #scalpmicropigmentationchicago #smpchicago #pmu #pmuartist #hairloss #hairlosssolution #hairlosstreatment #hairlosschicago #alopecia #micropigmentacioncapilar #calvicie #calvo #financing #hairlinetattoo #confidence #selfesteem #influencerchicago #polishmodel #lightskintone #restoreyourconfidence #callustoday #hablamosespa帽ol #chicago #milwaukee #stlouis #detroit #indianapolis
submitted by ill_smp to u/ill_smp [link] [comments]


2023.05.17 15:23 Byrnzie1982 Win 10 Enterprise - Windows store blocked all of a sudden

Anyone else having this issue with the ms store being blocked? It's been working fine for us for years and today, its being blocked, even the private store is blocked. There has been no changes in group policy, intune or sccm.


https://preview.redd.it/108ca2ps7e0b1.png?width=850&format=png&auto=webp&s=760ae8a819f7df2c6c97bbdc300fd537190554c4
submitted by Byrnzie1982 to SCCM [link] [comments]


2023.05.14 00:48 TakerFoxx The BITCHIN' and BANGIN', JAMMIN' and SLAMMIN' Body of Work Masterlist of Yah Boi, DemonDice KAREN, MK. II!

Here it is, the (hopefully) full collection of DemonDice Karen's body of work, organized to the best of my ability!
However, I cannot promise that it is fully complete, as some of her comics only exist in physical form, and deep cuts are surfacing all the time. But if anything new should pop up, let me know and I'll be sure to include it. And there also was a LOT of copying and pasting of links, so some might have gotten crossed. If anything links to the wrong thing also feel free to let me know.
Big shoutout to u/samics347, who has been uncovering and posting a number of deepcuts, and who is also responsible for building the deep-cut download bundle, without which this list would be much more incomplete than it is.
Also note that this is specifically for anything Karen released under the DemonDice moniker, and any work released under any other name or persona should be kept to spaces specifically dedicated to those personas. Respect kayfabe, my dudes.
Social Media
路 Website
路 Twitter
路 Youtube
路 Instagram
路 Bandcamp
路 Apple Music
路 Spotify
The DemonDice EP (download link)
路 -intro- kamisama, kiss my ass (track: dub unit)
路 snake eyes (track: rhythm kitchen)
路 shibuya demon (track: the passion hifi)
路 c u (track: ao)
Satan鈥檚 Lemonade Stand, Vol. 1 (download link)
路 Life is But a Dream (prod. ThatKidGoran)
路 CRazy beacHY (prod. DEMONDICE)
路 Girls Who Say Fuck (prod. The Passion Hifi)
路 Demon Dicesensei (prod. DEMONDICE)
路 If the Sky Falls Down and We Never Meet Again (prod. The Passion Hifi)
路 re;action (prod. mosqui)
路 MYLIFE銇甊EMIX feat. DempseyRollBoy & Scott SK Miller (prod. beatowski)
The Red, White and Black (bandcamp, applemusic, spotify, youtube)
路 River Styx (Intro)
路 She-Devil
路 Suckerz
路 Demondice Wa...
路 Somewhere, Over the Chem Trails in the Sky (feat. Scott SK Miller)
路 Track 6
路 C U (feat. DempseyRollBoy)
路 Devil's Barfight!! (feat. Scott SK Miller)
路 Anthem (Outro)
路 Suckerz (Instrumental)
American Saikoro (bandcamp, applemusic, spotify, youtube)
路 (Intro) Goodmorning, America
路 American Saikoro
路 21st Century Haters (feat. Deadfool & Minari)
路 Hellbento
路 Dice of a Generation
路 Speak of Devil (feat. Romonosov?)
路 Gang Gang, Kawaii!!
路 Words That I Could Say to You
路 (Outro) Goodnight, Japan
Strange Fiction (bandcamp, applemusic, spotify, youtube)
路 Strange Fiction (feat. Rapbit)
路 Necessary Evil
路 Appasayo
路 Egosa (feat. DempseyRollBoy)
路 Don't Mean Jack!! (feat. Matsu & Utenkekkou)
路 Tsukuribanashi
路 Satanic Cypher (feat. George Amis a.K.A 4m, GaLe, Usobuki, Minari, W!reless, Kyoutendouchi, HakobuNe & Scott SK)
路 Strange Fiction (feat. Rapbit) [Instrumental]
Kakigori Galaxy Astronaut 鈥 EP (bandcamp, applemusic, spotify, youtube)
路 Wannabe
路 Alt-Er-Native!! (feat. Ill.Bell)
路 Legendary Stray
路 Astronaut (feat. Shido from TinyTitanBox)
路 Hazy Skyscraper
路 Soundless
Alkatraz (bandcamp, applemusic, spotify, youtube)
路 Escape From... (Intro)
路 Alkatraz
路 Ragin' Ray and Jin
路 Rumor! (feat. Mamemi)
路 Sick Outta Fashion
路 Wanted
路 You're an Ace, Kid
Shut Up - Get Happy (bandcamp, applemusic, spotify)
路 wanting, getting, wanting
路 take the bait
路 dark hour
路 fake ass gold
As a Part of psycho銇╯aikou, w/ Minari and painy
路 WAIgodWAI
路 NISEMONO GANGSTA
路 OH!SHIT!!
Covers
路 CANDY (feat. Scott SK Miller)
路 VILLAIN
路 Deep in Abyss 鈥 Theme from Made in Abyss (feat. Rachie)
路 閭瓟
路 Dancing on the Inside
路 銉勩偔 鈥 FAKE TYPE, piano arrange
路 銉勩偔 鈥 FAKE TYPE, piano arrange, 3rd anniversary version
路 Backlight
路 Fleeting Lullaby
Non-Album Singles/Demos
路 Mean Street (feat. Megan McDuffee and AO)(spotify)
路 Sedai no Scream (feat. Teddyloid)(spotify)
路 锛冦儰銉儑銈c偘 (ver. Demondice)
路 #銉嶃儓銉儻銉ゃ儷銉囥偅銈 (ver. Demondice)
路 Devilman no Rappu
路 Sink or Swim 鈥 Netrap Royal (twitter link)
路 Lunatic Mode 鈥 Netrap Royal (twitter link)
路 Hello!! 鈥 Netrap Royal (twitter link)
As a Featured Artist
路 Ai 鈥 Scott SK Miller (duet) (applemusic, spotify)
路 Reflection 鈥 DYES IWASAKI (duet, feat. Lily Mizusaki) (applemusic, spotify)
路 Better Days 鈥 RollBoyDempsey (duet)
路 Veritas 鈥 HakobuNe (spotify)
路 Float Along 鈥 Tiny Planets
路 Momentary Souls 鈥 HakobuNe (posse, also feat. 娆¢儙浠悕, 鏄熴偔銉┿儵, Logo, 銉嶃儨銈︺偤, Y鈻矪U & 鐕) (spotify)
路 2+2=5 鈥 銇栥亶銇仚銇戙 (duet)
路 Easy Breezy 鈥 UNEEK ARTS (trio) (chelmico cover)
WE ARE THE W.W.W 2018 鈥 Rapbit (posse, also feat. 鎶 a.k.a. 銉娿兂銉栥儝銉堛偡, 锝欙綌锝, 銉┿偆銈搞儱銈, 鍢, RAq, shirayuki, imiga from 銈偆銉儸銉忋兂銉炪兗, 銈儶銉, [鈥 銈点兂銉嗐兂銉兗銉銉, SHIDO from TinyTitanBox, 銈夈仯銇枫伋銇)
路 WE ARE THE W.W.W. 2019 鈥 Rapbit (posse, also feat. 銈夈仯銇枫伋銇, 锝欙綌锝, 銉┿儍銉椼仚銈嬨優銉, 鍢, [鈥 銈点兂銉嗐兂銉兗銉銉, imiga, 銇庛亷銇庛伄銇с伀銈嶃亞 from 銈勩亷銇, uyuni, 銈裤偆銉勩偐銉, BURNBIT, boon, 鎶 a.k.a. 銉娿兂銉栥儝銉堛偡)
路 WE ARE THE W.W.W. 2020 鈥 Rapbit (posse, also feat. 鎶 a.k.a. 銉娿兂銉栥儝銉堛偡, 锝欙綌锝, Vacon, BEMA, 銈儶銉, [鈥 銈点兂銉嗐兂銉兗銉銉, 闆ㄥぉ姹鸿, Itaq, Kokatu Testarossa, ill.bell, 鈽嗐偆銉嬧槅, 銈夈仯銇枫伋銇)
路 Collideoscope銉°儹銉囥偅 鈥 Elliot Hsu (duet) (org. teaser)
路 FLICK THE FUTURE 鈥 Milky Queen (duet, download link) (original teaser) (alt. link)
路 Kou-Ten 鈥 Cosmic Reaction (duet)
路 39氘れ (39銇裤倕銉笺仒銇c亸锛) 鈥 8iro (posse, also feat. 鞙犾皑, 氇诫笖霝, Kura, 鞀る吀, Emkun, Ruz, Shaya) (Vocaloid cover)
路 Paper 鈥 Hanzo Reiza X Scott SK Miller (short version) (twitter link) (trio)
路My Hero 鈥 鎶 a.k.a. 銉娿兂銉栥儝銉堛偡 (duet)
路 WHOSNEXT18 - The Cynical Brothers (posse, also feat. Deftin鈥溿儑銉曘儊銉斥,銇笺亸銇堛倐銈,銉┿儍銉椼仚銈嬨優銉,ill.bell,SHIDO(from.TinyTitanBox),Itaq,銇庛亷銇庛伄銇с伀銈嶃亞,SICKHACK,銉°儓銉唺澹,杩锋捣鏈(from.銉┿偆銈搞儱銈),鍢,Vulcan(from.Metal's Rhyme),Vacon,BRU(from.鏃ョ郴鍏勫紵),TeslaCoil,Yasuark
路 WHOSNEXT19 - The Cynical Brothers (posse, also feat. SHOCKPUN,妗傘優銈躲儠銈°偔涔冭紨,TeslaCoil,銉°儓銉唺澹,Itaq,銇庛亷銇庛伄銇с伀銈嶃亞,銈夈仯銇枫伋銇,銉┿儍銉椼仚銈嬨優銉,G-YARD,Yasuark,銇笺亸銇堛倐銈,鍢,銈枫偓銉娿偆,bunTes,杩锋捣鏈,銉囥儠銉併兂,)
路 Blast+ - Zenpaku
路 Bad B!tch Magic - HalaCG (posse, also feat. OR30, Lollia, Louverture, JustinesMic, LulunaRina, Reinaery, ChiChi, and MioriCelesta)
路 We Are the Vanguard - Nano
路 Thousand Absolutes (Octavia's Theme) - Omega Strikers Japanese Version
Additional Animation Work
路 Princess鈾 - FAKE TYPE
路 Mister Jewel Box 鈥 FAKE TYPE
路 Kruel Kreator 鈥 FAKE TYPE
路 YUMMY! YUMMY! YUMMY! 鈥 FAKE TYPE
路 FAKE! FAKE! FAKE! 鈥 FAKE TYPE
路 Carry Lucky 鈥 FAKE TYPE
路 NIGHTMARE PARADE MEME 鈥 FAKE TYPE
路 Dear Rainy Day 鈥 TAMAONSEN feat. TINY PLANETS
路 Fade to Future 鈥 TAMAONSEN Ver. AO
路 Neo sparky lake 鈥 銇俱倎銇
路 Melody 鈥 Scott SK Miller
路 Darkest Days - DempseyRollBoy
Comics 路DemonDice EP
路Red, White, and Black
路Strange Fiction
路HonkyTonk Hustlers
Deep-Cuts and Rarities MP3 Bundle
https://mega.nz/foldeQ4ZH3DIS#Glv8fbZby50kolH_OkDVxw
submitted by TakerFoxx to DEMONDICE [link] [comments]


2023.05.12 07:28 ArtisticBear954 If Walt Disney Animation Studios made The Super Mario Bros. Movie in 2013 - 2016.

If Walt Disney Animation Studios made The Super Mario Bros. Movie in 2013 - 2016. submitted by ArtisticBear954 to Schaffrillas [link] [comments]


2023.05.11 19:32 UKManc19 [FS] [UK] SUMMER BITS (SIZE M)鈽锔 拢10 TEES!! LV SHADES - SHORTS!! / D+G / GIV*NC*Y / DS*UAR*D2 / L*C0ST3

Tagged pic & Timestamp:
https://imgur.com/a/r98n5Ju
Vouch Thread:
https://www.reddit.com/RepVouch/comments/stsxrf/ukmanc19_vouch/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
PayPal invoice only.
UK ONLY Postage - 拢6 First Class signed for.
All T-Shirts are size MEDIUM
LV ATTITUDE SUNGLASSES = SOLD
https://imgur.com/a/ruqwAvf
D&G = 拢30
https://imgur.com/a/PJVesDq
GIVENCHY AS A SET = 拢45 Or TEE = 拢30 SHORTS = 拢25
https://imgur.com/a/VnFtsCF
All T-Shirts = 拢10
LACOSTE https://imgur.com/a/rpEK5y4
https://imgur.com/a/OBeXpIz
DSQUARED2
https://imgur.com/a/ExUMvCW
https://imgur.com/a/DuHMYMq
Any questions don鈥檛 hesitate to get in touch. Cheers.
submitted by UKManc19 to FashionRepsBST [link] [comments]


2023.05.10 23:53 Senior-Tap-7362 Fellow anons this made me kek

Fellow anons this made me kek submitted by Senior-Tap-7362 to 4chanToken [link] [comments]


2023.05.08 02:14 II_Lonestar_II Port forwarding

Port forwarding
Is this accurate? Would ping/match-connection be optimal if all online players used Port-Forwarding?
submitted by II_Lonestar_II to MvC3 [link] [comments]


2023.05.06 01:13 philltastic1 UMvC3 - Phoenix Tutorial

UMvC3 - Phoenix Tutorial submitted by philltastic1 to MvC3 [link] [comments]


2023.04.26 07:57 wehaulanythingokc Junk Removal Made Easy- Tips and Facts for a Cleaner World

Junk Removal Made Easy- Tips and Facts for a Cleaner World submitted by wehaulanythingokc to u/wehaulanythingokc [link] [comments]


2023.04.20 22:14 BorBurison Extremis mini RT

Respect the Extremis Armour

When a terrorist named Mallen, who was enhanced by the Extremis Virus, went on a rampage across the United States, Iron Man was sent to stop him. After getting absolutely thrashed by him, Tony went to Maya Hansen, his old friend and Extremis' creator, to enhance himself similarly to how Mallen was in order to even the playing field. With his enhancements Tony could operate a new experimental Iron Man armour, the Model 29, now storing the undersheath inside the hollows of his bones and being able to activate it with his mind, using it to put an end to Mallen's carnage.
Mallen thread for scaling

Physicals

Strength

Durability

Speed

Tech

Weaponry

Repulsors

Thrusters

Uni-beam

Other

The Extremis Virus

Enhanced Physicals

Regeneration

Technopathy

Iron Man-related
Other

The Model 25

Tony's main armour immediately before the Model 29. The Model 29 has better stats in every way.

Physicals

Strength

Durability

Speed

Tech

Weaponry

Repulsors

Uni-beam

Other

Other

submitted by BorBurison to BorBurison [link] [comments]


2023.04.16 11:50 BorBurison Extremis

[Respect the Extremis Armour]()

"Quote"
Bio

Source key

Physicals

Strength

Lifting/Pushing/Pulling
Striking
Ramming
Throwing
Grip

Durability

Blunt
Heat/Energy
Explosive
Piercing
Other

Speed

Flight
Movement
Combat
Reaction

Tech

Weaponry

Repulsors

Thrusters

Uni-beam

Other

Systems

Scanners
Data
Limits

The Extremis Virus

Enhanced Physicals

General
Regeneration

Enhanced Mental Abilities

Multitasking

Technopathy

Iron Man-related
Other
submitted by BorBurison to BorBurison [link] [comments]


2023.04.14 08:14 Aggravating-Manner32 Military Antenna Market Trends, Share, Scope and Forecast by 2030

Military Antenna Market Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 2030
The market study covers several perceptions of the market, with market dynamics, value chain, pricing analysis, competition analysis, regional and segmental growth comparison, and macro-economic and industry growth analysis, alongside segment-level projections in a comprehensive manner. Increasing technological advancements, growing need for modern battle equipment, rising demand for innovative communication systems, increasing security concern, modernization of the military equipment, rise in terrorist activities, attack prone border, increasing demand for high - frequency military aircraft are few of the factors driving the market. The marketS are combined with advanced applications like multifunctional radars, 3D drones, etc. which provide better surveillance for accurate target tracking. However, the high cost involved in the development of the device is one of the main challenges for the development of the market. The global market is segregated on the basis of Application as Electronic Warfare, Navigation, Telemetry, Communication, Surveillance, and SATCOM. Based on the Frequency band the market is segmented in Ultra-High Frequency, Super High Frequency, Extremely High Frequency, High Frequency, and Very High Frequency. Based on Platform the market is segmented in Ground, Marine, and Airborne. Based on Type, the market is segmented in Loop Antennas, Aperture Antennas, Travelling Wave Antennas, Dipole Antennas, Monopole Antennas, and Array Antennas.
The global market report provides geographical analysis covering regions, such as North America, Europe, Asia-Pacific, and the Rest of the World. The market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
View Complete Report@ https://marketreportslibrary.com/report/ad0093/military-antenna-market
The global Military Antenna market has been segmented as below:
By Application
By Frequency band
By Platform
By Type
By Region
By Company
The report covers the below scope:
Request a Sample of this Report: @ https://marketreportslibrary.com/request/sample/ad0093/military-antenna-market
Explore other reports from 鈥Information and Communication, Technology 鈥 sector @
https://marketreportslibrary.com/category/aerospace-and-defence
Contact Us:
Avinash
Market Reports Library
[email protected]
submitted by Aggravating-Manner32 to u/Aggravating-Manner32 [link] [comments]


2023.04.09 03:48 Ok_Departure2991 Toyworld Greensborough

Toyworld Greensborough submitted by Ok_Departure2991 to transformers [link] [comments]


2023.04.06 23:45 bigbear0083 Wall Street Week Ahead for the trading week beginning April 10th, 2023

Good Thursday evening to all of you here on StockMarketChat! I hope everyone on this sub made out pretty nicely in the market this week, and are ready for the new trading week ahead. :)
Here is everything you need to know to get you ready for the trading week beginning April 10th, 2023.

S&P 500 ends Thursday higher, but suffers its first down week in four: Live updates - (Source)

Tech stocks lifted the S&P 500 into the green Thursday as the market wrapped up the short trading week on a high note despite signs of a weakening labor market.
The S&P 500 rose 0.36% to 4,105.02 after losing as much as 0.50% earlier. The tech-heavy Nasdaq Composite outperformed with a 0.76% gain to 12,087.96, boosted by a 3.78% rise in Google-parent Alphabet and a 2.55% rally in Microsoft shares. The Dow Jones Industrial Average inched 2.57 points higher to 33,485.29 after losing more than 150 points at its session low.
The S&P 500 still lost 0.1% on the week, posting its first losing week in four. The tech-heavy Nasdaq fell 1.1% this week, while the 30-stock Dow rose 0.6%.
The market remained volatile as the latest weekly jobless claims came in higher than expected, adding to recent signals that pointed to slowing job growth. The expansion in private payrolls was well below expectations in March, ADP said earlier this week. Meanwhile, the number of available positions fell below 10 million in February 鈥 a first in almost two years. Job cuts have also soared by nearly fivefold so far this year from a year ago.
Over the past several months, investors had cheered signs of economic cooling on the hope that it could push the Federal Reserve to change course on its interest rate hiking campaign. But they are now wondering if the central bank has gone too far in its bid to cool inflation, tightening the economy to the point of a recession.
鈥淭he Fed built a wall with interest rates and now the economy is running into it,鈥 said Jamie Cox, managing partner at Harris Financial Group.
Thursday capped off a shortened trading week with the market closed for Good Friday. Investors will still closely monitor March jobs report Friday morning. Nonfarm payrolls have been showing solid growth despite layoffs across tech and financial sectors, but many believe the trend is poised to reverse soon.
Jobless claims data 鈥渓ends credence to the idea that the Fed鈥檚 rate hikes are beginning to cool down the labor market and slow down the economy,鈥 said Chris Zaccarelli, CIO at Independent Advisor Alliance. 鈥淭he odds are much higher that it will cause a recession 鈥 and even a significant recession 鈥 than most people are currently willing to believe.鈥

This past week saw the following moves in the S&P:

(CLICK HERE FOR THE FULL S&P TREE MAP FOR THE PAST WEEK!)

S&P Sectors for this past week:

(CLICK HERE FOR THE S&P SECTORS FOR THE PAST WEEK!)

Major Indices for this past week:

(CLICK HERE FOR THE MAJOR INDICES FOR THE PAST WEEK!)

Major Futures Markets as of Friday's close:

(CLICK HERE FOR THE MAJOR FUTURES INDICES AS OF FRIDAY!)

Economic Calendar for the Week Ahead:

(CLICK HERE FOR THE FULL ECONOMIC CALENDAR FOR THE WEEK AHEAD!)

Percentage Changes for the Major Indices, WTD, MTD, QTD, YTD as of Friday's close:

(CLICK HERE FOR THE CHART!)

S&P Sectors for the Past Week:

(CLICK HERE FOR THE CHART!)

Major Indices Pullback/Correction Levels as of Friday's close:

(CLICK HERE FOR THE CHART!)

Major Indices Rally Levels as of Friday's close:

(CLICK HERE FOR THE CHART!)

Most Anticipated Earnings Releases for this week:

(CLICK HERE FOR THE CHART!)

Here are the upcoming IPO's for this week:

(CLICK HERE FOR THE CHART!)

Friday's Stock Analyst Upgrades & Downgrades:

(CLICK HERE FOR THE CHART LINK #1!)
(CLICK HERE FOR THE CHART LINK #2!)

A Big Win for the Bulls

鈥淲e may not know where we are going, but we better know where we stand.鈥 Howard Marks, Co-Founder of Oaktree Capital Management
A little-known technical indicator triggered in the first quarter, and it could bring smiles to the bulls. This one is known as the December Low indicator, and it is fairly straightforward: when the S&P 500 doesn鈥檛 close beneath the December low close, good things have tended to happen the rest of the year. The opposite, of course, is when the December lows are violated in the first quarter. To refresh your memory, that is exactly what happened last year and was one subtle clue that the odds of a dicey rest of 鈥22 had increased. Given that stocks didn鈥檛 break their December low this year, this is one less worry for sure.
Interestingly, since 1950, stocks held above the December lows 36 times while they broke the lows 37 times. Talk about even Steven. Those are some pretty big sample sizes, and sure enough, the results are quite conclusive.
Those 36 times the December lows held? The full year was up an incredible 34 times and up an average of 18.6%. The times it failed? The full year was down 0.2% on average and higher less than a coin flip.
(CLICK HERE FOR THE CHART!)
If you wanted to investigate things closer, here are all 36 times it held above the December lows. I added what happened the rest of the year (so the next three quarters) as well, and once again, strong performance was quite normal. We get it. Anything could happen from here, but the truth is it would be quite abnormal to expect a massive bear market and a horrible year for stocks this year.
(CLICK HERE FOR THE CHART!)
Here鈥檚 the other side to things; what happened when the December low was violated? Once again, the full year and the next three quarters鈥 returns were much different and weaker. Just a quick glance and some of the worst years ever saw the December lows broken. Years like 鈥73, 鈥74, the tech bubble, 鈥08, and 鈥22 all made this infamous list.
(CLICK HERE FOR THE CHART!)
Odds are, as you read this, I will be on a beach in the Turks and Caicos for Spring Break. (You caught me, I wrote this last week.) So as of right now, I鈥檓 not overly concerned about this potentially bullish development; I鈥檓 more into those fruity drinks with umbrellas in them, but once I get back home, you better believe this will be one that I鈥檒l be focusing on closely. Or, as Howard Marks said in the quote above, we don鈥檛 know where we are going, but we do know we stand on potentially a better backdrop for stocks than most think.

What Would Moses Do? Sell Passover

If Moses were trading stocks in the 21st Century, he would be wise to the seasonal cycles that move the markets year after year and know that Passover is the time to begin considering some portfolio spring cleaning.
The full Hebrew calendar trading strategy is 鈥淪ell Rosh Hashanah-Buy Yom Kippur-Sell Passover.鈥 Passover conveniently occurs in March or April, right near the end of our 鈥淏est Six Months鈥 strategy and it鈥檚 no coincidence that Rosh Hashanah and Yom Kippur fall in September and/or October, two dangerous and opportune months.
DJIA is up 81.8% of the time from Yom Kippur to Passover since 1990 with an average gain of 8.1%.On the flipside DJIA is up 62.5% from Passover to Yom Kippur with an average gain of only 1.2% (not shown). DJIA is up 10.3% since Yom Kippur 2022 as of today鈥檚 close.
(CLICK HERE FOR THE CHART!)

Claims Get Revised

Jobless claims were in focus this morning as seasonally adjusted initial claims were surprisingly high at 228K versus expectations of 200K. Previously, adjusted claims had consistently come in well below 200K with 10 readings below that level in the last 11 weeks. However, that large increase in the most recent week's data was matched with large revisions to the past couple of years' data as the BLS updated its seasonal adjustment methodology. The net impact of those changes was to redistribute claims throughout the year, revising up readings from Q1 and Q4 while Q2 and Q3 were revised down; total or average annual readings were not changed. As discussed in greater detail on the BLS website and we will review in more depth in tonight's Closer, there are two methods for seasonal adjustment: multiplicative or additive. Most of the time the claims data has used multiplicative seasonal factoring, but periods like the first year of the pandemic in which the indicator experiences unusually large level increases means an additive approach becomes more apt. This week, the BLS applied a new hybrid approach with additive factoring applied from early March 2020 through mid-2021 and multiplicative factoring for all other periods.
As shown below, that change back to multiplicative factoring resulted in some large revisions for initial claims over the past couple of years. In turn, that has dramatically changed the picture jobless claims have painted. Previously (red line in chart below) claims had been more or less trending sideways after bottoming around a year ago, but after these revisions (blue line) claims are trending upwards and bottomed this past September. In addition, the upward revision to 247K to the print from two weeks ago would mark the highest level since January 2022.
(CLICK HERE FOR THE CHART!)
As for the non-seasonally adjusted data, the story is much less noisy being unaffected by the aforementioned revisions. In other words, the overall picture for claims hasn't changed when looking at this series. Claims remain near historically healthy levels consistent with the few years prior to the pandemic. Granted, those are off the strongest readings from last year. At this point of the year, claims are also trending lower as could be expected based on seasonal patterns. The next couple of weeks may see claims move higher because of seasonality, though, that would likely prove to be a temporary bump in the road with claims resuming the trend lower through the late spring.
(CLICK HERE FOR THE CHART!)
The revision likewise impacted continuing claims which rose to 1.823 million in the most recent week. That brings claims back up to the highest levels since December 2021 as they have risen sequentially for three weeks in a row.
(CLICK HERE FOR THE CHART!)

Sentiment Back to Bullish

Sentiment saw a huge rebound this week based on the latest AAII survey. With the S&P 500 taking out early March highs late last week, bullish sentiment jumped 10.8 percentage points to 33.3%. Although there was a higher level of bullish sentiment as recently as February 16th, this week's increase was the largest WoW jump since June of last year. Even though a double-digit jump in bullish sentiment sounds significant, S&P 500 performance has been unremarkable following similar instances historically.
(CLICK HERE FOR THE CHART!)
The rise in bullish sentiment borrowed almost entirely from those reporting as bearish. Bearish sentiment fell 10.6 percentage points down to 35%. That is the lowest reading since mid-February and the first double-digit drop since November.
(CLICK HERE FOR THE CHART!)
The huge shift in favor of bulls this week resulted in the bull-bear spread narrowing to -1.7 points. That is the least negative reading in the spread since February when the bull-bear spread had broken a record streak of bearish readings.
(CLICK HERE FOR THE CHART!)
As we noted last week, the AAII survey has been a holdout in showing more optimistic sentiment readings. Whereas other sentiment surveys like the NAAIM exposure index and the Investors Intelligence survey had essentially returned to historical averages, the AAII survey saw firmly bearish sentiment readings with a bull-bear spread of 1.6 standard deviations from its historical average as of last week. Given the quick turnaround this week, the AAII survey is no longer weighing on our Sentiment Composite as it moved back into positive territory indicating bullish sentiment for only the fourth week since the start of 2022.
(CLICK HERE FOR THE CHART!)

Looming Debt Ceiling Crisis 2011 D茅j脿 Vu

(CLICK HERE FOR THE CHART!)
Let鈥檚 not forget about the looming debt ceiling crisis. It is the same political set up as pre-election year 2011: Democratic President with a split Congress composed of a Democratic Senate majority and a Republican House majority.
The banking crisis may have been averted, at least for the time being. War in Ukraine drags on, but it still appears more like a protracted Cold War 2.0 scenario that the market has shrugged off. The earnings trough may indeed be ending. But! Let鈥檚 be devil鈥檚 advocates here.
The standoff in 2011 between the White House and House Republicans is eerily similar to what鈥檚 developing in 2023. Markets topped out on the last trading day of April 2011 and entered a mini-bear phase with S&P down 19.4% on a closing basis before bottoming on October 3.
2011鈥檚 Worst Six Months were negative with the Dow down 6.7% and S&P down 8.1%. NASDAQ鈥檚 Worst 4 Months July-October were down 3.2%. S&P finished the year essentially flat at -0.003%, Dow was up 5.5%, NASDAQ was off 1.8% on the year.
Uncertainty & headwinds can take a bite out of usual pre-election year gains. Heeding our Best 6 Months MACD Sell Signal when it triggers will likely be the prudent course of action. Review your portfolio. Get prepared to lock in these BSM gains, sell losers & tighten stops.

3 Reasons the Dollar Isn鈥檛 Going Away Anytime Soon

There鈥檚 always been talk about the U.S. dollar (USD) losing its dominant currency status globally, but lately, the chatter seems to have increased, especially since Russia鈥檚 invasion of Ukraine, which saw the US impose severe and expansive sanctions on Russia and Russian officials 鈥 enabled by the fact that the US treasury has jurisdiction over any transaction that involves the flow of USD. Rising tensions between the US and countries like China and Saudi Arabia have also raised concerns that these countries could price oil sales in Chinese yuan, denting the USD鈥檚 dominance in the global oil trade. Never mind the fact that these talks have been going on for several years now.
The reality is this: the USD鈥檚 dominant role is not going to end any time soon, especially since there鈥檚 no good alternative. Let鈥檚 walk through 3 reasons why, using some great data from a recent Federal Reserve report.

1. The World has confidence in the US, and thereby the U.S. dollar

This confidence doesn鈥檛 come out of nowhere. As the Fed report notes, a key function of a currency is:
鈥淎 store of value which can be saved and retrieved in the future without significant loss of purchasing power.鈥
The US has the world鈥檚 deepest and most liquid financial markets thanks to the following:
  • The size of the US economy
  • The strength of the US economy
  • Open trade and capital flows, with fewer restrictions than a lot of other countries
  • Strong rule of law, and property rights, with a history of enforcing them
This is why, despite the US making up just about 25% of the world economy, about 60% of global foreign currency reserves are denominated in USD. This has fallen from about 71% in 2000 but is still far ahead of other currencies, including the euro (21%), yen (6%), British pound (5%), and Chinese renminbi (2%). And the decline has been taken by various other currencies, as opposed to a single other one.
(CLICK HERE FOR THE CHART!)

2. Network effects: The USD is dominant in trade invoicing and international finance

The USD is the world鈥檚 most popular medium of exchange when it comes to trade, even beyond North & South America. Outside of Europe, where the euro is naturally dominant, more than 70% of exports are invoiced in US dollars. That鈥檚 not likely to change anytime soon, especially with so many countries and companies involved.
(CLICK HERE FOR THE CHART!)
It shouldn鈥檛 be a surprise that the popularity of the USD as a medium of exchange means it almost automatically becomes the dominant currency in international banking. Think of all the USD flowing across global banks as companies/customers make payments to each other. 60% of international foreign currency banking claims, i.e., bank deposits denoted in foreign currency, and loans are USD. That鈥檚 been fairly stable since 2000 and has increased over the last few years. The euro is second but makes up just about 20%.
(CLICK HERE FOR THE CHART!)
Network effects can be extremely hard to dislodge. It won鈥檛 be easy to convince people across the world that they have to move their assets from the US dollar to another currency, let alone make the switch without any risk.

3. Most important reason is: The US is willing to maintain massive trade deficits

Here are a couple of statistics (as of Q4 2022)
  • The rest of the world held about $7.4 trillion in US treasury securities
  • The rest of the world held about $1 trillion in USD banknotes, which is about 46% of all USD banknotes out there
These are all 鈥渓iabilities鈥 of the US government, i.e., loans to the US government. But the real question is, why do foreigners hold so much of these in the first place?
Part of the answer lies in the first two reasons, but here鈥檚 another big one. Foreigners sell a lot of stuff to Americans, about $3.3 trillion worth in 2022 alone. And they got USD in return for all that.
In an ideal world, foreigners would turn around and use those dollars to purchase stuff made in the USA, and trade would be 鈥渂alanced鈥.
But they don鈥檛. Instead, they bought about $2.1 trillion worth of goods from the US last year.
Which means there was an extra $1.2 trillion that foreigners had. What do they do with it?
(CLICK HERE FOR THE CHART!)

The US is willing to supply the rest of the world with treasuries & banknotes

U.S. dollars can only buy goods and financial assets in the US. Foreigners could buy something in Europe or China, but they鈥檇 have to convert the USD to euros/yuan first, and then someone else is left holding USD, and then they have to figure out what to do with those USD.
Instead, foreigners turn around and buy the safest, most liquid security in the world: US treasuries. Some of them also simply hold USD in cash (or deposits in their local bank). As I noted above, these are liabilities of the US government that the US is more than willing to issue. No other country, including the Eurozone, looks remotely capable or willing to do that anytime soon.
Which is why there are so many dollars and treasuries held by the rest of the world.
Could that change as countries decide to trade in their own currencies instead of the USD? Sure, but there鈥檚 a problem.
Take Saudi Arabia and China, for example. The former could sell oil to China in yuan, but then the Saudis have to figure out what to do with those yuan. They鈥檇 have to buy assets in China 鈥 but there aren鈥檛 too many of that, especially Chinese government bonds.
China has capital controls as well. which means it may not be easy for the Saudis to pull their money out of China in the future, especially during a crisis when the Chinese want to limit outflows. Capital controls are how the Chinese control their currency, and it鈥檚 hard to see them letting go of that lever anytime soon.
In sharp contrast, the Fed is willing to act as the global central bank, supplying dollar liquidity to the rest of the world when there鈥檚 a crisis.

The global economic model is unlikely to shift

The Chinese could decide they don鈥檛 want extra dollars. So instead of selling all the extra stuff they produce to Americans, they could sell it to Europe, the rest of Asia, and Africa. But the thing is, those countries don鈥檛 want too many of those goods either 鈥 because consumption is not as big a part of their economies (like the US).
Now, the Chinese could decide not to produce as much, but that is not a recipe for economic success.
Ideally, their own citizens would buy all the extra stuff they produce. But here鈥檚 the problem: Chinese households don鈥檛 earn enough to buy all those extra goods, and they save a lot more than Americans. They have to since there鈥檚 nothing like Social Security or Medicare there. China then channels these savings into investment, which leads to a lot of buildings, infrastructure, and industrial production, which is what drives their economy.
The Chinese government could 鈥渇ix this,鈥 but that involves a significant shift in how their economy works 鈥 essentially redistributing national income away from the government and businesses to households. A massive political project that鈥檚 unlikely to happen anytime soon.
It鈥檚 not just the Chinese. It鈥檚 the Germans, too, along with countries like Taiwan and South Korea, all of whom are reliant on exports to drive their economies.
A shift away from the economic model that these countries are reliant on to a model that is consumption-led is very difficult. As the previous chart shows, its actually gotten worse over the last few years as US trade deficits grew even more.
In fact, it would be better for US manufacturers if other countries do switch their economic model. Because that would mean they could buy more stuff that鈥檚 made in the US. And trade would be more balanced.
In any case, there鈥檚 no practical alternative to the U.S. dollar right now, and its dominance is likely to remain in place.

STOCK MARKET VIDEO: Stock Market Analysis Video for Week Ending April 7th, 2023

(CLICK HERE FOR THE YOUTUBE VIDEO!)

STOCK MARKET VIDEO: ShadowTrader Video Weekly 4/9/23

([CLICK HERE FOR THE YOUTUBE VIDEO!]())
(VIDEO NOT YET POSTED.)
Here are the most notable companies (tickers) reporting earnings in this upcoming trading week ahead-
(T.B.A. THIS WEEKEND.)
(CLICK HERE FOR NEXT WEEK'S MOST NOTABLE EARNINGS RELEASES!)
(CLICK HERE FOR NEXT WEEK'S HIGHEST VOLATILITY EARNINGS RELEASES!)
(CLICK HERE FOR MONDAY'S PRE-MARKET NOTABLE EARNINGS RELEASES!)
(CLICK HERE FOR THE MOST NOTABLE EARNINGS RELEASES FOR THE NEXT 2 WEEKS!)

(T.B.A. THIS WEEKEND.)

(T.B.A. THIS WEEKEND.) (T.B.A. THIS WEEKEND.).

(CLICK HERE FOR THE CHART!)

DISCUSS!

What are you all watching for in this upcoming trading week?

Join the Official Reddit Stock Market Chat Discord Server HERE!

I hope you all have a wonderful 3-day weekend and a great trading week ahead StockMarketChat. :)
submitted by bigbear0083 to u/bigbear0083 [link] [comments]


2023.04.06 23:44 bigbear0083 Wall Street Week Ahead for the trading week beginning April 10th, 2023

Good Thursday evening to all of you here on WallStreetStockMarket! I hope everyone on this sub made out pretty nicely in the market this week, and are ready for the new trading week ahead. :)
Here is everything you need to know to get you ready for the trading week beginning April 10th, 2023.

S&P 500 ends Thursday higher, but suffers its first down week in four: Live updates - (Source)

Tech stocks lifted the S&P 500 into the green Thursday as the market wrapped up the short trading week on a high note despite signs of a weakening labor market.
The S&P 500 rose 0.36% to 4,105.02 after losing as much as 0.50% earlier. The tech-heavy Nasdaq Composite outperformed with a 0.76% gain to 12,087.96, boosted by a 3.78% rise in Google-parent Alphabet and a 2.55% rally in Microsoft shares. The Dow Jones Industrial Average inched 2.57 points higher to 33,485.29 after losing more than 150 points at its session low.
The S&P 500 still lost 0.1% on the week, posting its first losing week in four. The tech-heavy Nasdaq fell 1.1% this week, while the 30-stock Dow rose 0.6%.
The market remained volatile as the latest weekly jobless claims came in higher than expected, adding to recent signals that pointed to slowing job growth. The expansion in private payrolls was well below expectations in March, ADP said earlier this week. Meanwhile, the number of available positions fell below 10 million in February 鈥 a first in almost two years. Job cuts have also soared by nearly fivefold so far this year from a year ago.
Over the past several months, investors had cheered signs of economic cooling on the hope that it could push the Federal Reserve to change course on its interest rate hiking campaign. But they are now wondering if the central bank has gone too far in its bid to cool inflation, tightening the economy to the point of a recession.
鈥淭he Fed built a wall with interest rates and now the economy is running into it,鈥 said Jamie Cox, managing partner at Harris Financial Group.
Thursday capped off a shortened trading week with the market closed for Good Friday. Investors will still closely monitor March jobs report Friday morning. Nonfarm payrolls have been showing solid growth despite layoffs across tech and financial sectors, but many believe the trend is poised to reverse soon.
Jobless claims data 鈥渓ends credence to the idea that the Fed鈥檚 rate hikes are beginning to cool down the labor market and slow down the economy,鈥 said Chris Zaccarelli, CIO at Independent Advisor Alliance. 鈥淭he odds are much higher that it will cause a recession 鈥 and even a significant recession 鈥 than most people are currently willing to believe.鈥

This past week saw the following moves in the S&P:

(CLICK HERE FOR THE FULL S&P TREE MAP FOR THE PAST WEEK!)

S&P Sectors for this past week:

(CLICK HERE FOR THE S&P SECTORS FOR THE PAST WEEK!)

Major Indices for this past week:

(CLICK HERE FOR THE MAJOR INDICES FOR THE PAST WEEK!)

Major Futures Markets as of Friday's close:

(CLICK HERE FOR THE MAJOR FUTURES INDICES AS OF FRIDAY!)

Economic Calendar for the Week Ahead:

(CLICK HERE FOR THE FULL ECONOMIC CALENDAR FOR THE WEEK AHEAD!)

Percentage Changes for the Major Indices, WTD, MTD, QTD, YTD as of Friday's close:

(CLICK HERE FOR THE CHART!)

S&P Sectors for the Past Week:

(CLICK HERE FOR THE CHART!)

Major Indices Pullback/Correction Levels as of Friday's close:

(CLICK HERE FOR THE CHART!)

Major Indices Rally Levels as of Friday's close:

(CLICK HERE FOR THE CHART!)

Most Anticipated Earnings Releases for this week:

(CLICK HERE FOR THE CHART!)

Here are the upcoming IPO's for this week:

(CLICK HERE FOR THE CHART!)

Friday's Stock Analyst Upgrades & Downgrades:

(CLICK HERE FOR THE CHART LINK #1!)
(CLICK HERE FOR THE CHART LINK #2!)

A Big Win for the Bulls

鈥淲e may not know where we are going, but we better know where we stand.鈥 Howard Marks, Co-Founder of Oaktree Capital Management
A little-known technical indicator triggered in the first quarter, and it could bring smiles to the bulls. This one is known as the December Low indicator, and it is fairly straightforward: when the S&P 500 doesn鈥檛 close beneath the December low close, good things have tended to happen the rest of the year. The opposite, of course, is when the December lows are violated in the first quarter. To refresh your memory, that is exactly what happened last year and was one subtle clue that the odds of a dicey rest of 鈥22 had increased. Given that stocks didn鈥檛 break their December low this year, this is one less worry for sure.
Interestingly, since 1950, stocks held above the December lows 36 times while they broke the lows 37 times. Talk about even Steven. Those are some pretty big sample sizes, and sure enough, the results are quite conclusive.
Those 36 times the December lows held? The full year was up an incredible 34 times and up an average of 18.6%. The times it failed? The full year was down 0.2% on average and higher less than a coin flip.
(CLICK HERE FOR THE CHART!)
If you wanted to investigate things closer, here are all 36 times it held above the December lows. I added what happened the rest of the year (so the next three quarters) as well, and once again, strong performance was quite normal. We get it. Anything could happen from here, but the truth is it would be quite abnormal to expect a massive bear market and a horrible year for stocks this year.
(CLICK HERE FOR THE CHART!)
Here鈥檚 the other side to things; what happened when the December low was violated? Once again, the full year and the next three quarters鈥 returns were much different and weaker. Just a quick glance and some of the worst years ever saw the December lows broken. Years like 鈥73, 鈥74, the tech bubble, 鈥08, and 鈥22 all made this infamous list.
(CLICK HERE FOR THE CHART!)
Odds are, as you read this, I will be on a beach in the Turks and Caicos for Spring Break. (You caught me, I wrote this last week.) So as of right now, I鈥檓 not overly concerned about this potentially bullish development; I鈥檓 more into those fruity drinks with umbrellas in them, but once I get back home, you better believe this will be one that I鈥檒l be focusing on closely. Or, as Howard Marks said in the quote above, we don鈥檛 know where we are going, but we do know we stand on potentially a better backdrop for stocks than most think.

What Would Moses Do? Sell Passover

If Moses were trading stocks in the 21st Century, he would be wise to the seasonal cycles that move the markets year after year and know that Passover is the time to begin considering some portfolio spring cleaning.
The full Hebrew calendar trading strategy is 鈥淪ell Rosh Hashanah-Buy Yom Kippur-Sell Passover.鈥 Passover conveniently occurs in March or April, right near the end of our 鈥淏est Six Months鈥 strategy and it鈥檚 no coincidence that Rosh Hashanah and Yom Kippur fall in September and/or October, two dangerous and opportune months.
DJIA is up 81.8% of the time from Yom Kippur to Passover since 1990 with an average gain of 8.1%.On the flipside DJIA is up 62.5% from Passover to Yom Kippur with an average gain of only 1.2% (not shown). DJIA is up 10.3% since Yom Kippur 2022 as of today鈥檚 close.
(CLICK HERE FOR THE CHART!)

Claims Get Revised

Jobless claims were in focus this morning as seasonally adjusted initial claims were surprisingly high at 228K versus expectations of 200K. Previously, adjusted claims had consistently come in well below 200K with 10 readings below that level in the last 11 weeks. However, that large increase in the most recent week's data was matched with large revisions to the past couple of years' data as the BLS updated its seasonal adjustment methodology. The net impact of those changes was to redistribute claims throughout the year, revising up readings from Q1 and Q4 while Q2 and Q3 were revised down; total or average annual readings were not changed. As discussed in greater detail on the BLS website and we will review in more depth in tonight's Closer, there are two methods for seasonal adjustment: multiplicative or additive. Most of the time the claims data has used multiplicative seasonal factoring, but periods like the first year of the pandemic in which the indicator experiences unusually large level increases means an additive approach becomes more apt. This week, the BLS applied a new hybrid approach with additive factoring applied from early March 2020 through mid-2021 and multiplicative factoring for all other periods.
As shown below, that change back to multiplicative factoring resulted in some large revisions for initial claims over the past couple of years. In turn, that has dramatically changed the picture jobless claims have painted. Previously (red line in chart below) claims had been more or less trending sideways after bottoming around a year ago, but after these revisions (blue line) claims are trending upwards and bottomed this past September. In addition, the upward revision to 247K to the print from two weeks ago would mark the highest level since January 2022.
(CLICK HERE FOR THE CHART!)
As for the non-seasonally adjusted data, the story is much less noisy being unaffected by the aforementioned revisions. In other words, the overall picture for claims hasn't changed when looking at this series. Claims remain near historically healthy levels consistent with the few years prior to the pandemic. Granted, those are off the strongest readings from last year. At this point of the year, claims are also trending lower as could be expected based on seasonal patterns. The next couple of weeks may see claims move higher because of seasonality, though, that would likely prove to be a temporary bump in the road with claims resuming the trend lower through the late spring.
(CLICK HERE FOR THE CHART!)
The revision likewise impacted continuing claims which rose to 1.823 million in the most recent week. That brings claims back up to the highest levels since December 2021 as they have risen sequentially for three weeks in a row.
(CLICK HERE FOR THE CHART!)

Sentiment Back to Bullish

Sentiment saw a huge rebound this week based on the latest AAII survey. With the S&P 500 taking out early March highs late last week, bullish sentiment jumped 10.8 percentage points to 33.3%. Although there was a higher level of bullish sentiment as recently as February 16th, this week's increase was the largest WoW jump since June of last year. Even though a double-digit jump in bullish sentiment sounds significant, S&P 500 performance has been unremarkable following similar instances historically.
(CLICK HERE FOR THE CHART!)
The rise in bullish sentiment borrowed almost entirely from those reporting as bearish. Bearish sentiment fell 10.6 percentage points down to 35%. That is the lowest reading since mid-February and the first double-digit drop since November.
(CLICK HERE FOR THE CHART!)
The huge shift in favor of bulls this week resulted in the bull-bear spread narrowing to -1.7 points. That is the least negative reading in the spread since February when the bull-bear spread had broken a record streak of bearish readings.
(CLICK HERE FOR THE CHART!)
As we noted last week, the AAII survey has been a holdout in showing more optimistic sentiment readings. Whereas other sentiment surveys like the NAAIM exposure index and the Investors Intelligence survey had essentially returned to historical averages, the AAII survey saw firmly bearish sentiment readings with a bull-bear spread of 1.6 standard deviations from its historical average as of last week. Given the quick turnaround this week, the AAII survey is no longer weighing on our Sentiment Composite as it moved back into positive territory indicating bullish sentiment for only the fourth week since the start of 2022.
(CLICK HERE FOR THE CHART!)

Looming Debt Ceiling Crisis 2011 D茅j脿 Vu

(CLICK HERE FOR THE CHART!)
Let鈥檚 not forget about the looming debt ceiling crisis. It is the same political set up as pre-election year 2011: Democratic President with a split Congress composed of a Democratic Senate majority and a Republican House majority.
The banking crisis may have been averted, at least for the time being. War in Ukraine drags on, but it still appears more like a protracted Cold War 2.0 scenario that the market has shrugged off. The earnings trough may indeed be ending. But! Let鈥檚 be devil鈥檚 advocates here.
The standoff in 2011 between the White House and House Republicans is eerily similar to what鈥檚 developing in 2023. Markets topped out on the last trading day of April 2011 and entered a mini-bear phase with S&P down 19.4% on a closing basis before bottoming on October 3.
2011鈥檚 Worst Six Months were negative with the Dow down 6.7% and S&P down 8.1%. NASDAQ鈥檚 Worst 4 Months July-October were down 3.2%. S&P finished the year essentially flat at -0.003%, Dow was up 5.5%, NASDAQ was off 1.8% on the year.
Uncertainty & headwinds can take a bite out of usual pre-election year gains. Heeding our Best 6 Months MACD Sell Signal when it triggers will likely be the prudent course of action. Review your portfolio. Get prepared to lock in these BSM gains, sell losers & tighten stops.

3 Reasons the Dollar Isn鈥檛 Going Away Anytime Soon

There鈥檚 always been talk about the U.S. dollar (USD) losing its dominant currency status globally, but lately, the chatter seems to have increased, especially since Russia鈥檚 invasion of Ukraine, which saw the US impose severe and expansive sanctions on Russia and Russian officials 鈥 enabled by the fact that the US treasury has jurisdiction over any transaction that involves the flow of USD. Rising tensions between the US and countries like China and Saudi Arabia have also raised concerns that these countries could price oil sales in Chinese yuan, denting the USD鈥檚 dominance in the global oil trade. Never mind the fact that these talks have been going on for several years now.
The reality is this: the USD鈥檚 dominant role is not going to end any time soon, especially since there鈥檚 no good alternative. Let鈥檚 walk through 3 reasons why, using some great data from a recent Federal Reserve report.

1. The World has confidence in the US, and thereby the U.S. dollar

This confidence doesn鈥檛 come out of nowhere. As the Fed report notes, a key function of a currency is:
鈥淎 store of value which can be saved and retrieved in the future without significant loss of purchasing power.鈥
The US has the world鈥檚 deepest and most liquid financial markets thanks to the following:
  • The size of the US economy
  • The strength of the US economy
  • Open trade and capital flows, with fewer restrictions than a lot of other countries
  • Strong rule of law, and property rights, with a history of enforcing them
This is why, despite the US making up just about 25% of the world economy, about 60% of global foreign currency reserves are denominated in USD. This has fallen from about 71% in 2000 but is still far ahead of other currencies, including the euro (21%), yen (6%), British pound (5%), and Chinese renminbi (2%). And the decline has been taken by various other currencies, as opposed to a single other one.
(CLICK HERE FOR THE CHART!)

2. Network effects: The USD is dominant in trade invoicing and international finance

The USD is the world鈥檚 most popular medium of exchange when it comes to trade, even beyond North & South America. Outside of Europe, where the euro is naturally dominant, more than 70% of exports are invoiced in US dollars. That鈥檚 not likely to change anytime soon, especially with so many countries and companies involved.
(CLICK HERE FOR THE CHART!)
It shouldn鈥檛 be a surprise that the popularity of the USD as a medium of exchange means it almost automatically becomes the dominant currency in international banking. Think of all the USD flowing across global banks as companies/customers make payments to each other. 60% of international foreign currency banking claims, i.e., bank deposits denoted in foreign currency, and loans are USD. That鈥檚 been fairly stable since 2000 and has increased over the last few years. The euro is second but makes up just about 20%.
(CLICK HERE FOR THE CHART!)
Network effects can be extremely hard to dislodge. It won鈥檛 be easy to convince people across the world that they have to move their assets from the US dollar to another currency, let alone make the switch without any risk.

3. Most important reason is: The US is willing to maintain massive trade deficits

Here are a couple of statistics (as of Q4 2022)
  • The rest of the world held about $7.4 trillion in US treasury securities
  • The rest of the world held about $1 trillion in USD banknotes, which is about 46% of all USD banknotes out there
These are all 鈥渓iabilities鈥 of the US government, i.e., loans to the US government. But the real question is, why do foreigners hold so much of these in the first place?
Part of the answer lies in the first two reasons, but here鈥檚 another big one. Foreigners sell a lot of stuff to Americans, about $3.3 trillion worth in 2022 alone. And they got USD in return for all that.
In an ideal world, foreigners would turn around and use those dollars to purchase stuff made in the USA, and trade would be 鈥渂alanced鈥.
But they don鈥檛. Instead, they bought about $2.1 trillion worth of goods from the US last year.
Which means there was an extra $1.2 trillion that foreigners had. What do they do with it?
(CLICK HERE FOR THE CHART!)

The US is willing to supply the rest of the world with treasuries & banknotes

U.S. dollars can only buy goods and financial assets in the US. Foreigners could buy something in Europe or China, but they鈥檇 have to convert the USD to euros/yuan first, and then someone else is left holding USD, and then they have to figure out what to do with those USD.
Instead, foreigners turn around and buy the safest, most liquid security in the world: US treasuries. Some of them also simply hold USD in cash (or deposits in their local bank). As I noted above, these are liabilities of the US government that the US is more than willing to issue. No other country, including the Eurozone, looks remotely capable or willing to do that anytime soon.
Which is why there are so many dollars and treasuries held by the rest of the world.
Could that change as countries decide to trade in their own currencies instead of the USD? Sure, but there鈥檚 a problem.
Take Saudi Arabia and China, for example. The former could sell oil to China in yuan, but then the Saudis have to figure out what to do with those yuan. They鈥檇 have to buy assets in China 鈥 but there aren鈥檛 too many of that, especially Chinese government bonds.
China has capital controls as well. which means it may not be easy for the Saudis to pull their money out of China in the future, especially during a crisis when the Chinese want to limit outflows. Capital controls are how the Chinese control their currency, and it鈥檚 hard to see them letting go of that lever anytime soon.
In sharp contrast, the Fed is willing to act as the global central bank, supplying dollar liquidity to the rest of the world when there鈥檚 a crisis.

The global economic model is unlikely to shift

The Chinese could decide they don鈥檛 want extra dollars. So instead of selling all the extra stuff they produce to Americans, they could sell it to Europe, the rest of Asia, and Africa. But the thing is, those countries don鈥檛 want too many of those goods either 鈥 because consumption is not as big a part of their economies (like the US).
Now, the Chinese could decide not to produce as much, but that is not a recipe for economic success.
Ideally, their own citizens would buy all the extra stuff they produce. But here鈥檚 the problem: Chinese households don鈥檛 earn enough to buy all those extra goods, and they save a lot more than Americans. They have to since there鈥檚 nothing like Social Security or Medicare there. China then channels these savings into investment, which leads to a lot of buildings, infrastructure, and industrial production, which is what drives their economy.
The Chinese government could 鈥渇ix this,鈥 but that involves a significant shift in how their economy works 鈥 essentially redistributing national income away from the government and businesses to households. A massive political project that鈥檚 unlikely to happen anytime soon.
It鈥檚 not just the Chinese. It鈥檚 the Germans, too, along with countries like Taiwan and South Korea, all of whom are reliant on exports to drive their economies.
A shift away from the economic model that these countries are reliant on to a model that is consumption-led is very difficult. As the previous chart shows, its actually gotten worse over the last few years as US trade deficits grew even more.
In fact, it would be better for US manufacturers if other countries do switch their economic model. Because that would mean they could buy more stuff that鈥檚 made in the US. And trade would be more balanced.
In any case, there鈥檚 no practical alternative to the U.S. dollar right now, and its dominance is likely to remain in place.

STOCK MARKET VIDEO: Stock Market Analysis Video for Week Ending April 7th, 2023

(CLICK HERE FOR THE YOUTUBE VIDEO!)

STOCK MARKET VIDEO: ShadowTrader Video Weekly 4/9/23

([CLICK HERE FOR THE YOUTUBE VIDEO!]())
(VIDEO NOT YET POSTED.)
Here are the most notable companies (tickers) reporting earnings in this upcoming trading week ahead-
(T.B.A. THIS WEEKEND.)
(CLICK HERE FOR NEXT WEEK'S MOST NOTABLE EARNINGS RELEASES!)
(CLICK HERE FOR NEXT WEEK'S HIGHEST VOLATILITY EARNINGS RELEASES!)
(CLICK HERE FOR MONDAY'S PRE-MARKET NOTABLE EARNINGS RELEASES!)
(CLICK HERE FOR THE MOST NOTABLE EARNINGS RELEASES FOR THE NEXT 2 WEEKS!)

(T.B.A. THIS WEEKEND.)

(T.B.A. THIS WEEKEND.) (T.B.A. THIS WEEKEND.).

(CLICK HERE FOR THE CHART!)

DISCUSS!

What are you all watching for in this upcoming trading week?

Join the Official Reddit Stock Market Chat Discord Server HERE!

I hope you all have a wonderful 3-day weekend and a great trading week ahead WallStreetStockMarket. :)
submitted by bigbear0083 to WallStreetStockMarket [link] [comments]


2023.04.06 23:43 bigbear0083 Wall Street Week Ahead for the trading week beginning April 10th, 2023

Good Thursday evening to all of you here on StockMarketForums! I hope everyone on this sub made out pretty nicely in the market this week, and are ready for the new trading week ahead. :)
Here is everything you need to know to get you ready for the trading week beginning April 10th, 2023.

S&P 500 ends Thursday higher, but suffers its first down week in four: Live updates - (Source)

Tech stocks lifted the S&P 500 into the green Thursday as the market wrapped up the short trading week on a high note despite signs of a weakening labor market.
The S&P 500 rose 0.36% to 4,105.02 after losing as much as 0.50% earlier. The tech-heavy Nasdaq Composite outperformed with a 0.76% gain to 12,087.96, boosted by a 3.78% rise in Google-parent Alphabet and a 2.55% rally in Microsoft shares. The Dow Jones Industrial Average inched 2.57 points higher to 33,485.29 after losing more than 150 points at its session low.
The S&P 500 still lost 0.1% on the week, posting its first losing week in four. The tech-heavy Nasdaq fell 1.1% this week, while the 30-stock Dow rose 0.6%.
The market remained volatile as the latest weekly jobless claims came in higher than expected, adding to recent signals that pointed to slowing job growth. The expansion in private payrolls was well below expectations in March, ADP said earlier this week. Meanwhile, the number of available positions fell below 10 million in February 鈥 a first in almost two years. Job cuts have also soared by nearly fivefold so far this year from a year ago.
Over the past several months, investors had cheered signs of economic cooling on the hope that it could push the Federal Reserve to change course on its interest rate hiking campaign. But they are now wondering if the central bank has gone too far in its bid to cool inflation, tightening the economy to the point of a recession.
鈥淭he Fed built a wall with interest rates and now the economy is running into it,鈥 said Jamie Cox, managing partner at Harris Financial Group.
Thursday capped off a shortened trading week with the market closed for Good Friday. Investors will still closely monitor March jobs report Friday morning. Nonfarm payrolls have been showing solid growth despite layoffs across tech and financial sectors, but many believe the trend is poised to reverse soon.
Jobless claims data 鈥渓ends credence to the idea that the Fed鈥檚 rate hikes are beginning to cool down the labor market and slow down the economy,鈥 said Chris Zaccarelli, CIO at Independent Advisor Alliance. 鈥淭he odds are much higher that it will cause a recession 鈥 and even a significant recession 鈥 than most people are currently willing to believe.鈥

This past week saw the following moves in the S&P:

(CLICK HERE FOR THE FULL S&P TREE MAP FOR THE PAST WEEK!)

S&P Sectors for this past week:

(CLICK HERE FOR THE S&P SECTORS FOR THE PAST WEEK!)

Major Indices for this past week:

(CLICK HERE FOR THE MAJOR INDICES FOR THE PAST WEEK!)

Major Futures Markets as of Friday's close:

(CLICK HERE FOR THE MAJOR FUTURES INDICES AS OF FRIDAY!)

Economic Calendar for the Week Ahead:

(CLICK HERE FOR THE FULL ECONOMIC CALENDAR FOR THE WEEK AHEAD!)

Percentage Changes for the Major Indices, WTD, MTD, QTD, YTD as of Friday's close:

(CLICK HERE FOR THE CHART!)

S&P Sectors for the Past Week:

(CLICK HERE FOR THE CHART!)

Major Indices Pullback/Correction Levels as of Friday's close:

(CLICK HERE FOR THE CHART!)

Major Indices Rally Levels as of Friday's close:

(CLICK HERE FOR THE CHART!)

Most Anticipated Earnings Releases for this week:

(CLICK HERE FOR THE CHART!)

Here are the upcoming IPO's for this week:

(CLICK HERE FOR THE CHART!)

Friday's Stock Analyst Upgrades & Downgrades:

(CLICK HERE FOR THE CHART LINK #1!)
(CLICK HERE FOR THE CHART LINK #2!)

A Big Win for the Bulls

鈥淲e may not know where we are going, but we better know where we stand.鈥 Howard Marks, Co-Founder of Oaktree Capital Management
A little-known technical indicator triggered in the first quarter, and it could bring smiles to the bulls. This one is known as the December Low indicator, and it is fairly straightforward: when the S&P 500 doesn鈥檛 close beneath the December low close, good things have tended to happen the rest of the year. The opposite, of course, is when the December lows are violated in the first quarter. To refresh your memory, that is exactly what happened last year and was one subtle clue that the odds of a dicey rest of 鈥22 had increased. Given that stocks didn鈥檛 break their December low this year, this is one less worry for sure.
Interestingly, since 1950, stocks held above the December lows 36 times while they broke the lows 37 times. Talk about even Steven. Those are some pretty big sample sizes, and sure enough, the results are quite conclusive.
Those 36 times the December lows held? The full year was up an incredible 34 times and up an average of 18.6%. The times it failed? The full year was down 0.2% on average and higher less than a coin flip.
(CLICK HERE FOR THE CHART!)
If you wanted to investigate things closer, here are all 36 times it held above the December lows. I added what happened the rest of the year (so the next three quarters) as well, and once again, strong performance was quite normal. We get it. Anything could happen from here, but the truth is it would be quite abnormal to expect a massive bear market and a horrible year for stocks this year.
(CLICK HERE FOR THE CHART!)
Here鈥檚 the other side to things; what happened when the December low was violated? Once again, the full year and the next three quarters鈥 returns were much different and weaker. Just a quick glance and some of the worst years ever saw the December lows broken. Years like 鈥73, 鈥74, the tech bubble, 鈥08, and 鈥22 all made this infamous list.
(CLICK HERE FOR THE CHART!)
Odds are, as you read this, I will be on a beach in the Turks and Caicos for Spring Break. (You caught me, I wrote this last week.) So as of right now, I鈥檓 not overly concerned about this potentially bullish development; I鈥檓 more into those fruity drinks with umbrellas in them, but once I get back home, you better believe this will be one that I鈥檒l be focusing on closely. Or, as Howard Marks said in the quote above, we don鈥檛 know where we are going, but we do know we stand on potentially a better backdrop for stocks than most think.

What Would Moses Do? Sell Passover

If Moses were trading stocks in the 21st Century, he would be wise to the seasonal cycles that move the markets year after year and know that Passover is the time to begin considering some portfolio spring cleaning.
The full Hebrew calendar trading strategy is 鈥淪ell Rosh Hashanah-Buy Yom Kippur-Sell Passover.鈥 Passover conveniently occurs in March or April, right near the end of our 鈥淏est Six Months鈥 strategy and it鈥檚 no coincidence that Rosh Hashanah and Yom Kippur fall in September and/or October, two dangerous and opportune months.
DJIA is up 81.8% of the time from Yom Kippur to Passover since 1990 with an average gain of 8.1%.On the flipside DJIA is up 62.5% from Passover to Yom Kippur with an average gain of only 1.2% (not shown). DJIA is up 10.3% since Yom Kippur 2022 as of today鈥檚 close.
(CLICK HERE FOR THE CHART!)

Claims Get Revised

Jobless claims were in focus this morning as seasonally adjusted initial claims were surprisingly high at 228K versus expectations of 200K. Previously, adjusted claims had consistently come in well below 200K with 10 readings below that level in the last 11 weeks. However, that large increase in the most recent week's data was matched with large revisions to the past couple of years' data as the BLS updated its seasonal adjustment methodology. The net impact of those changes was to redistribute claims throughout the year, revising up readings from Q1 and Q4 while Q2 and Q3 were revised down; total or average annual readings were not changed. As discussed in greater detail on the BLS website and we will review in more depth in tonight's Closer, there are two methods for seasonal adjustment: multiplicative or additive. Most of the time the claims data has used multiplicative seasonal factoring, but periods like the first year of the pandemic in which the indicator experiences unusually large level increases means an additive approach becomes more apt. This week, the BLS applied a new hybrid approach with additive factoring applied from early March 2020 through mid-2021 and multiplicative factoring for all other periods.
As shown below, that change back to multiplicative factoring resulted in some large revisions for initial claims over the past couple of years. In turn, that has dramatically changed the picture jobless claims have painted. Previously (red line in chart below) claims had been more or less trending sideways after bottoming around a year ago, but after these revisions (blue line) claims are trending upwards and bottomed this past September. In addition, the upward revision to 247K to the print from two weeks ago would mark the highest level since January 2022.
(CLICK HERE FOR THE CHART!)
As for the non-seasonally adjusted data, the story is much less noisy being unaffected by the aforementioned revisions. In other words, the overall picture for claims hasn't changed when looking at this series. Claims remain near historically healthy levels consistent with the few years prior to the pandemic. Granted, those are off the strongest readings from last year. At this point of the year, claims are also trending lower as could be expected based on seasonal patterns. The next couple of weeks may see claims move higher because of seasonality, though, that would likely prove to be a temporary bump in the road with claims resuming the trend lower through the late spring.
(CLICK HERE FOR THE CHART!)
The revision likewise impacted continuing claims which rose to 1.823 million in the most recent week. That brings claims back up to the highest levels since December 2021 as they have risen sequentially for three weeks in a row.
(CLICK HERE FOR THE CHART!)

Sentiment Back to Bullish

Sentiment saw a huge rebound this week based on the latest AAII survey. With the S&P 500 taking out early March highs late last week, bullish sentiment jumped 10.8 percentage points to 33.3%. Although there was a higher level of bullish sentiment as recently as February 16th, this week's increase was the largest WoW jump since June of last year. Even though a double-digit jump in bullish sentiment sounds significant, S&P 500 performance has been unremarkable following similar instances historically.
(CLICK HERE FOR THE CHART!)
The rise in bullish sentiment borrowed almost entirely from those reporting as bearish. Bearish sentiment fell 10.6 percentage points down to 35%. That is the lowest reading since mid-February and the first double-digit drop since November.
(CLICK HERE FOR THE CHART!)
The huge shift in favor of bulls this week resulted in the bull-bear spread narrowing to -1.7 points. That is the least negative reading in the spread since February when the bull-bear spread had broken a record streak of bearish readings.
(CLICK HERE FOR THE CHART!)
As we noted last week, the AAII survey has been a holdout in showing more optimistic sentiment readings. Whereas other sentiment surveys like the NAAIM exposure index and the Investors Intelligence survey had essentially returned to historical averages, the AAII survey saw firmly bearish sentiment readings with a bull-bear spread of 1.6 standard deviations from its historical average as of last week. Given the quick turnaround this week, the AAII survey is no longer weighing on our Sentiment Composite as it moved back into positive territory indicating bullish sentiment for only the fourth week since the start of 2022.
(CLICK HERE FOR THE CHART!)

Looming Debt Ceiling Crisis 2011 D茅j脿 Vu

(CLICK HERE FOR THE CHART!)
Let鈥檚 not forget about the looming debt ceiling crisis. It is the same political set up as pre-election year 2011: Democratic President with a split Congress composed of a Democratic Senate majority and a Republican House majority.
The banking crisis may have been averted, at least for the time being. War in Ukraine drags on, but it still appears more like a protracted Cold War 2.0 scenario that the market has shrugged off. The earnings trough may indeed be ending. But! Let鈥檚 be devil鈥檚 advocates here.
The standoff in 2011 between the White House and House Republicans is eerily similar to what鈥檚 developing in 2023. Markets topped out on the last trading day of April 2011 and entered a mini-bear phase with S&P down 19.4% on a closing basis before bottoming on October 3.
2011鈥檚 Worst Six Months were negative with the Dow down 6.7% and S&P down 8.1%. NASDAQ鈥檚 Worst 4 Months July-October were down 3.2%. S&P finished the year essentially flat at -0.003%, Dow was up 5.5%, NASDAQ was off 1.8% on the year.
Uncertainty & headwinds can take a bite out of usual pre-election year gains. Heeding our Best 6 Months MACD Sell Signal when it triggers will likely be the prudent course of action. Review your portfolio. Get prepared to lock in these BSM gains, sell losers & tighten stops.

3 Reasons the Dollar Isn鈥檛 Going Away Anytime Soon

There鈥檚 always been talk about the U.S. dollar (USD) losing its dominant currency status globally, but lately, the chatter seems to have increased, especially since Russia鈥檚 invasion of Ukraine, which saw the US impose severe and expansive sanctions on Russia and Russian officials 鈥 enabled by the fact that the US treasury has jurisdiction over any transaction that involves the flow of USD. Rising tensions between the US and countries like China and Saudi Arabia have also raised concerns that these countries could price oil sales in Chinese yuan, denting the USD鈥檚 dominance in the global oil trade. Never mind the fact that these talks have been going on for several years now.
The reality is this: the USD鈥檚 dominant role is not going to end any time soon, especially since there鈥檚 no good alternative. Let鈥檚 walk through 3 reasons why, using some great data from a recent Federal Reserve report.

1. The World has confidence in the US, and thereby the U.S. dollar

This confidence doesn鈥檛 come out of nowhere. As the Fed report notes, a key function of a currency is:
鈥淎 store of value which can be saved and retrieved in the future without significant loss of purchasing power.鈥
The US has the world鈥檚 deepest and most liquid financial markets thanks to the following:
  • The size of the US economy
  • The strength of the US economy
  • Open trade and capital flows, with fewer restrictions than a lot of other countries
  • Strong rule of law, and property rights, with a history of enforcing them
This is why, despite the US making up just about 25% of the world economy, about 60% of global foreign currency reserves are denominated in USD. This has fallen from about 71% in 2000 but is still far ahead of other currencies, including the euro (21%), yen (6%), British pound (5%), and Chinese renminbi (2%). And the decline has been taken by various other currencies, as opposed to a single other one.
(CLICK HERE FOR THE CHART!)

2. Network effects: The USD is dominant in trade invoicing and international finance

The USD is the world鈥檚 most popular medium of exchange when it comes to trade, even beyond North & South America. Outside of Europe, where the euro is naturally dominant, more than 70% of exports are invoiced in US dollars. That鈥檚 not likely to change anytime soon, especially with so many countries and companies involved.
(CLICK HERE FOR THE CHART!)
It shouldn鈥檛 be a surprise that the popularity of the USD as a medium of exchange means it almost automatically becomes the dominant currency in international banking. Think of all the USD flowing across global banks as companies/customers make payments to each other. 60% of international foreign currency banking claims, i.e., bank deposits denoted in foreign currency, and loans are USD. That鈥檚 been fairly stable since 2000 and has increased over the last few years. The euro is second but makes up just about 20%.
(CLICK HERE FOR THE CHART!)
Network effects can be extremely hard to dislodge. It won鈥檛 be easy to convince people across the world that they have to move their assets from the US dollar to another currency, let alone make the switch without any risk.

3. Most important reason is: The US is willing to maintain massive trade deficits

Here are a couple of statistics (as of Q4 2022)
  • The rest of the world held about $7.4 trillion in US treasury securities
  • The rest of the world held about $1 trillion in USD banknotes, which is about 46% of all USD banknotes out there
These are all 鈥渓iabilities鈥 of the US government, i.e., loans to the US government. But the real question is, why do foreigners hold so much of these in the first place?
Part of the answer lies in the first two reasons, but here鈥檚 another big one. Foreigners sell a lot of stuff to Americans, about $3.3 trillion worth in 2022 alone. And they got USD in return for all that.
In an ideal world, foreigners would turn around and use those dollars to purchase stuff made in the USA, and trade would be 鈥渂alanced鈥.
But they don鈥檛. Instead, they bought about $2.1 trillion worth of goods from the US last year.
Which means there was an extra $1.2 trillion that foreigners had. What do they do with it?
(CLICK HERE FOR THE CHART!)

The US is willing to supply the rest of the world with treasuries & banknotes

U.S. dollars can only buy goods and financial assets in the US. Foreigners could buy something in Europe or China, but they鈥檇 have to convert the USD to euros/yuan first, and then someone else is left holding USD, and then they have to figure out what to do with those USD.
Instead, foreigners turn around and buy the safest, most liquid security in the world: US treasuries. Some of them also simply hold USD in cash (or deposits in their local bank). As I noted above, these are liabilities of the US government that the US is more than willing to issue. No other country, including the Eurozone, looks remotely capable or willing to do that anytime soon.
Which is why there are so many dollars and treasuries held by the rest of the world.
Could that change as countries decide to trade in their own currencies instead of the USD? Sure, but there鈥檚 a problem.
Take Saudi Arabia and China, for example. The former could sell oil to China in yuan, but then the Saudis have to figure out what to do with those yuan. They鈥檇 have to buy assets in China 鈥 but there aren鈥檛 too many of that, especially Chinese government bonds.
China has capital controls as well. which means it may not be easy for the Saudis to pull their money out of China in the future, especially during a crisis when the Chinese want to limit outflows. Capital controls are how the Chinese control their currency, and it鈥檚 hard to see them letting go of that lever anytime soon.
In sharp contrast, the Fed is willing to act as the global central bank, supplying dollar liquidity to the rest of the world when there鈥檚 a crisis.

The global economic model is unlikely to shift

The Chinese could decide they don鈥檛 want extra dollars. So instead of selling all the extra stuff they produce to Americans, they could sell it to Europe, the rest of Asia, and Africa. But the thing is, those countries don鈥檛 want too many of those goods either 鈥 because consumption is not as big a part of their economies (like the US).
Now, the Chinese could decide not to produce as much, but that is not a recipe for economic success.
Ideally, their own citizens would buy all the extra stuff they produce. But here鈥檚 the problem: Chinese households don鈥檛 earn enough to buy all those extra goods, and they save a lot more than Americans. They have to since there鈥檚 nothing like Social Security or Medicare there. China then channels these savings into investment, which leads to a lot of buildings, infrastructure, and industrial production, which is what drives their economy.
The Chinese government could 鈥渇ix this,鈥 but that involves a significant shift in how their economy works 鈥 essentially redistributing national income away from the government and businesses to households. A massive political project that鈥檚 unlikely to happen anytime soon.
It鈥檚 not just the Chinese. It鈥檚 the Germans, too, along with countries like Taiwan and South Korea, all of whom are reliant on exports to drive their economies.
A shift away from the economic model that these countries are reliant on to a model that is consumption-led is very difficult. As the previous chart shows, its actually gotten worse over the last few years as US trade deficits grew even more.
In fact, it would be better for US manufacturers if other countries do switch their economic model. Because that would mean they could buy more stuff that鈥檚 made in the US. And trade would be more balanced.
In any case, there鈥檚 no practical alternative to the U.S. dollar right now, and its dominance is likely to remain in place.

STOCK MARKET VIDEO: Stock Market Analysis Video for Week Ending April 7th, 2023

(CLICK HERE FOR THE YOUTUBE VIDEO!)

STOCK MARKET VIDEO: ShadowTrader Video Weekly 4/9/23

([CLICK HERE FOR THE YOUTUBE VIDEO!]())
(VIDEO NOT YET POSTED.)
Here are the most notable companies (tickers) reporting earnings in this upcoming trading week ahead-
(T.B.A. THIS WEEKEND.)
(CLICK HERE FOR NEXT WEEK'S MOST NOTABLE EARNINGS RELEASES!)
(CLICK HERE FOR NEXT WEEK'S HIGHEST VOLATILITY EARNINGS RELEASES!)
(CLICK HERE FOR MONDAY'S PRE-MARKET NOTABLE EARNINGS RELEASES!)
(CLICK HERE FOR THE MOST NOTABLE EARNINGS RELEASES FOR THE NEXT 2 WEEKS!)

(T.B.A. THIS WEEKEND.)

(T.B.A. THIS WEEKEND.) (T.B.A. THIS WEEKEND.).

(CLICK HERE FOR THE CHART!)

DISCUSS!

What are you all watching for in this upcoming trading week?

Join the Official Reddit Stock Market Chat Discord Server HERE!

I hope you all have a wonderful 3-day weekend and a great trading week ahead StockMarketForums. :)
submitted by bigbear0083 to StockMarketForums [link] [comments]


2023.04.06 23:43 bigbear0083 Wall Street Week Ahead for the trading week beginning April 10th, 2023

Good Thursday evening to all of you here on StocksMarket! I hope everyone on this sub made out pretty nicely in the market this week, and are ready for the new trading week ahead. :)
Here is everything you need to know to get you ready for the trading week beginning April 10th, 2023.

S&P 500 ends Thursday higher, but suffers its first down week in four: Live updates - (Source)

Tech stocks lifted the S&P 500 into the green Thursday as the market wrapped up the short trading week on a high note despite signs of a weakening labor market.
The S&P 500 rose 0.36% to 4,105.02 after losing as much as 0.50% earlier. The tech-heavy Nasdaq Composite outperformed with a 0.76% gain to 12,087.96, boosted by a 3.78% rise in Google-parent Alphabet and a 2.55% rally in Microsoft shares. The Dow Jones Industrial Average inched 2.57 points higher to 33,485.29 after losing more than 150 points at its session low.
The S&P 500 still lost 0.1% on the week, posting its first losing week in four. The tech-heavy Nasdaq fell 1.1% this week, while the 30-stock Dow rose 0.6%.
The market remained volatile as the latest weekly jobless claims came in higher than expected, adding to recent signals that pointed to slowing job growth. The expansion in private payrolls was well below expectations in March, ADP said earlier this week. Meanwhile, the number of available positions fell below 10 million in February 鈥 a first in almost two years. Job cuts have also soared by nearly fivefold so far this year from a year ago.
Over the past several months, investors had cheered signs of economic cooling on the hope that it could push the Federal Reserve to change course on its interest rate hiking campaign. But they are now wondering if the central bank has gone too far in its bid to cool inflation, tightening the economy to the point of a recession.
鈥淭he Fed built a wall with interest rates and now the economy is running into it,鈥 said Jamie Cox, managing partner at Harris Financial Group.
Thursday capped off a shortened trading week with the market closed for Good Friday. Investors will still closely monitor March jobs report Friday morning. Nonfarm payrolls have been showing solid growth despite layoffs across tech and financial sectors, but many believe the trend is poised to reverse soon.
Jobless claims data 鈥渓ends credence to the idea that the Fed鈥檚 rate hikes are beginning to cool down the labor market and slow down the economy,鈥 said Chris Zaccarelli, CIO at Independent Advisor Alliance. 鈥淭he odds are much higher that it will cause a recession 鈥 and even a significant recession 鈥 than most people are currently willing to believe.鈥

This past week saw the following moves in the S&P:

(CLICK HERE FOR THE FULL S&P TREE MAP FOR THE PAST WEEK!)

S&P Sectors for this past week:

(CLICK HERE FOR THE S&P SECTORS FOR THE PAST WEEK!)

Major Indices for this past week:

(CLICK HERE FOR THE MAJOR INDICES FOR THE PAST WEEK!)

Major Futures Markets as of Friday's close:

(CLICK HERE FOR THE MAJOR FUTURES INDICES AS OF FRIDAY!)

Economic Calendar for the Week Ahead:

(CLICK HERE FOR THE FULL ECONOMIC CALENDAR FOR THE WEEK AHEAD!)

Percentage Changes for the Major Indices, WTD, MTD, QTD, YTD as of Friday's close:

(CLICK HERE FOR THE CHART!)

S&P Sectors for the Past Week:

(CLICK HERE FOR THE CHART!)

Major Indices Pullback/Correction Levels as of Friday's close:

(CLICK HERE FOR THE CHART!)

Major Indices Rally Levels as of Friday's close:

(CLICK HERE FOR THE CHART!)

Most Anticipated Earnings Releases for this week:

(CLICK HERE FOR THE CHART!)

Here are the upcoming IPO's for this week:

(CLICK HERE FOR THE CHART!)

Friday's Stock Analyst Upgrades & Downgrades:

(CLICK HERE FOR THE CHART LINK #1!)
(CLICK HERE FOR THE CHART LINK #2!)

A Big Win for the Bulls

鈥淲e may not know where we are going, but we better know where we stand.鈥 Howard Marks, Co-Founder of Oaktree Capital Management
A little-known technical indicator triggered in the first quarter, and it could bring smiles to the bulls. This one is known as the December Low indicator, and it is fairly straightforward: when the S&P 500 doesn鈥檛 close beneath the December low close, good things have tended to happen the rest of the year. The opposite, of course, is when the December lows are violated in the first quarter. To refresh your memory, that is exactly what happened last year and was one subtle clue that the odds of a dicey rest of 鈥22 had increased. Given that stocks didn鈥檛 break their December low this year, this is one less worry for sure.
Interestingly, since 1950, stocks held above the December lows 36 times while they broke the lows 37 times. Talk about even Steven. Those are some pretty big sample sizes, and sure enough, the results are quite conclusive.
Those 36 times the December lows held? The full year was up an incredible 34 times and up an average of 18.6%. The times it failed? The full year was down 0.2% on average and higher less than a coin flip.
(CLICK HERE FOR THE CHART!)
If you wanted to investigate things closer, here are all 36 times it held above the December lows. I added what happened the rest of the year (so the next three quarters) as well, and once again, strong performance was quite normal. We get it. Anything could happen from here, but the truth is it would be quite abnormal to expect a massive bear market and a horrible year for stocks this year.
(CLICK HERE FOR THE CHART!)
Here鈥檚 the other side to things; what happened when the December low was violated? Once again, the full year and the next three quarters鈥 returns were much different and weaker. Just a quick glance and some of the worst years ever saw the December lows broken. Years like 鈥73, 鈥74, the tech bubble, 鈥08, and 鈥22 all made this infamous list.
(CLICK HERE FOR THE CHART!)
Odds are, as you read this, I will be on a beach in the Turks and Caicos for Spring Break. (You caught me, I wrote this last week.) So as of right now, I鈥檓 not overly concerned about this potentially bullish development; I鈥檓 more into those fruity drinks with umbrellas in them, but once I get back home, you better believe this will be one that I鈥檒l be focusing on closely. Or, as Howard Marks said in the quote above, we don鈥檛 know where we are going, but we do know we stand on potentially a better backdrop for stocks than most think.

What Would Moses Do? Sell Passover

If Moses were trading stocks in the 21st Century, he would be wise to the seasonal cycles that move the markets year after year and know that Passover is the time to begin considering some portfolio spring cleaning.
The full Hebrew calendar trading strategy is 鈥淪ell Rosh Hashanah-Buy Yom Kippur-Sell Passover.鈥 Passover conveniently occurs in March or April, right near the end of our 鈥淏est Six Months鈥 strategy and it鈥檚 no coincidence that Rosh Hashanah and Yom Kippur fall in September and/or October, two dangerous and opportune months.
DJIA is up 81.8% of the time from Yom Kippur to Passover since 1990 with an average gain of 8.1%.On the flipside DJIA is up 62.5% from Passover to Yom Kippur with an average gain of only 1.2% (not shown). DJIA is up 10.3% since Yom Kippur 2022 as of today鈥檚 close.
(CLICK HERE FOR THE CHART!)

Claims Get Revised

Jobless claims were in focus this morning as seasonally adjusted initial claims were surprisingly high at 228K versus expectations of 200K. Previously, adjusted claims had consistently come in well below 200K with 10 readings below that level in the last 11 weeks. However, that large increase in the most recent week's data was matched with large revisions to the past couple of years' data as the BLS updated its seasonal adjustment methodology. The net impact of those changes was to redistribute claims throughout the year, revising up readings from Q1 and Q4 while Q2 and Q3 were revised down; total or average annual readings were not changed. As discussed in greater detail on the BLS website and we will review in more depth in tonight's Closer, there are two methods for seasonal adjustment: multiplicative or additive. Most of the time the claims data has used multiplicative seasonal factoring, but periods like the first year of the pandemic in which the indicator experiences unusually large level increases means an additive approach becomes more apt. This week, the BLS applied a new hybrid approach with additive factoring applied from early March 2020 through mid-2021 and multiplicative factoring for all other periods.
As shown below, that change back to multiplicative factoring resulted in some large revisions for initial claims over the past couple of years. In turn, that has dramatically changed the picture jobless claims have painted. Previously (red line in chart below) claims had been more or less trending sideways after bottoming around a year ago, but after these revisions (blue line) claims are trending upwards and bottomed this past September. In addition, the upward revision to 247K to the print from two weeks ago would mark the highest level since January 2022.
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As for the non-seasonally adjusted data, the story is much less noisy being unaffected by the aforementioned revisions. In other words, the overall picture for claims hasn't changed when looking at this series. Claims remain near historically healthy levels consistent with the few years prior to the pandemic. Granted, those are off the strongest readings from last year. At this point of the year, claims are also trending lower as could be expected based on seasonal patterns. The next couple of weeks may see claims move higher because of seasonality, though, that would likely prove to be a temporary bump in the road with claims resuming the trend lower through the late spring.
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The revision likewise impacted continuing claims which rose to 1.823 million in the most recent week. That brings claims back up to the highest levels since December 2021 as they have risen sequentially for three weeks in a row.
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Sentiment Back to Bullish

Sentiment saw a huge rebound this week based on the latest AAII survey. With the S&P 500 taking out early March highs late last week, bullish sentiment jumped 10.8 percentage points to 33.3%. Although there was a higher level of bullish sentiment as recently as February 16th, this week's increase was the largest WoW jump since June of last year. Even though a double-digit jump in bullish sentiment sounds significant, S&P 500 performance has been unremarkable following similar instances historically.
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The rise in bullish sentiment borrowed almost entirely from those reporting as bearish. Bearish sentiment fell 10.6 percentage points down to 35%. That is the lowest reading since mid-February and the first double-digit drop since November.
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The huge shift in favor of bulls this week resulted in the bull-bear spread narrowing to -1.7 points. That is the least negative reading in the spread since February when the bull-bear spread had broken a record streak of bearish readings.
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As we noted last week, the AAII survey has been a holdout in showing more optimistic sentiment readings. Whereas other sentiment surveys like the NAAIM exposure index and the Investors Intelligence survey had essentially returned to historical averages, the AAII survey saw firmly bearish sentiment readings with a bull-bear spread of 1.6 standard deviations from its historical average as of last week. Given the quick turnaround this week, the AAII survey is no longer weighing on our Sentiment Composite as it moved back into positive territory indicating bullish sentiment for only the fourth week since the start of 2022.
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Looming Debt Ceiling Crisis 2011 D茅j脿 Vu

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Let鈥檚 not forget about the looming debt ceiling crisis. It is the same political set up as pre-election year 2011: Democratic President with a split Congress composed of a Democratic Senate majority and a Republican House majority.
The banking crisis may have been averted, at least for the time being. War in Ukraine drags on, but it still appears more like a protracted Cold War 2.0 scenario that the market has shrugged off. The earnings trough may indeed be ending. But! Let鈥檚 be devil鈥檚 advocates here.
The standoff in 2011 between the White House and House Republicans is eerily similar to what鈥檚 developing in 2023. Markets topped out on the last trading day of April 2011 and entered a mini-bear phase with S&P down 19.4% on a closing basis before bottoming on October 3.
2011鈥檚 Worst Six Months were negative with the Dow down 6.7% and S&P down 8.1%. NASDAQ鈥檚 Worst 4 Months July-October were down 3.2%. S&P finished the year essentially flat at -0.003%, Dow was up 5.5%, NASDAQ was off 1.8% on the year.
Uncertainty & headwinds can take a bite out of usual pre-election year gains. Heeding our Best 6 Months MACD Sell Signal when it triggers will likely be the prudent course of action. Review your portfolio. Get prepared to lock in these BSM gains, sell losers & tighten stops.

3 Reasons the Dollar Isn鈥檛 Going Away Anytime Soon

There鈥檚 always been talk about the U.S. dollar (USD) losing its dominant currency status globally, but lately, the chatter seems to have increased, especially since Russia鈥檚 invasion of Ukraine, which saw the US impose severe and expansive sanctions on Russia and Russian officials 鈥 enabled by the fact that the US treasury has jurisdiction over any transaction that involves the flow of USD. Rising tensions between the US and countries like China and Saudi Arabia have also raised concerns that these countries could price oil sales in Chinese yuan, denting the USD鈥檚 dominance in the global oil trade. Never mind the fact that these talks have been going on for several years now.
The reality is this: the USD鈥檚 dominant role is not going to end any time soon, especially since there鈥檚 no good alternative. Let鈥檚 walk through 3 reasons why, using some great data from a recent Federal Reserve report.

1. The World has confidence in the US, and thereby the U.S. dollar

This confidence doesn鈥檛 come out of nowhere. As the Fed report notes, a key function of a currency is:
鈥淎 store of value which can be saved and retrieved in the future without significant loss of purchasing power.鈥
The US has the world鈥檚 deepest and most liquid financial markets thanks to the following:
  • The size of the US economy
  • The strength of the US economy
  • Open trade and capital flows, with fewer restrictions than a lot of other countries
  • Strong rule of law, and property rights, with a history of enforcing them
This is why, despite the US making up just about 25% of the world economy, about 60% of global foreign currency reserves are denominated in USD. This has fallen from about 71% in 2000 but is still far ahead of other currencies, including the euro (21%), yen (6%), British pound (5%), and Chinese renminbi (2%). And the decline has been taken by various other currencies, as opposed to a single other one.
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2. Network effects: The USD is dominant in trade invoicing and international finance

The USD is the world鈥檚 most popular medium of exchange when it comes to trade, even beyond North & South America. Outside of Europe, where the euro is naturally dominant, more than 70% of exports are invoiced in US dollars. That鈥檚 not likely to change anytime soon, especially with so many countries and companies involved.
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It shouldn鈥檛 be a surprise that the popularity of the USD as a medium of exchange means it almost automatically becomes the dominant currency in international banking. Think of all the USD flowing across global banks as companies/customers make payments to each other. 60% of international foreign currency banking claims, i.e., bank deposits denoted in foreign currency, and loans are USD. That鈥檚 been fairly stable since 2000 and has increased over the last few years. The euro is second but makes up just about 20%.
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Network effects can be extremely hard to dislodge. It won鈥檛 be easy to convince people across the world that they have to move their assets from the US dollar to another currency, let alone make the switch without any risk.

3. Most important reason is: The US is willing to maintain massive trade deficits

Here are a couple of statistics (as of Q4 2022)
  • The rest of the world held about $7.4 trillion in US treasury securities
  • The rest of the world held about $1 trillion in USD banknotes, which is about 46% of all USD banknotes out there
These are all 鈥渓iabilities鈥 of the US government, i.e., loans to the US government. But the real question is, why do foreigners hold so much of these in the first place?
Part of the answer lies in the first two reasons, but here鈥檚 another big one. Foreigners sell a lot of stuff to Americans, about $3.3 trillion worth in 2022 alone. And they got USD in return for all that.
In an ideal world, foreigners would turn around and use those dollars to purchase stuff made in the USA, and trade would be 鈥渂alanced鈥.
But they don鈥檛. Instead, they bought about $2.1 trillion worth of goods from the US last year.
Which means there was an extra $1.2 trillion that foreigners had. What do they do with it?
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The US is willing to supply the rest of the world with treasuries & banknotes

U.S. dollars can only buy goods and financial assets in the US. Foreigners could buy something in Europe or China, but they鈥檇 have to convert the USD to euros/yuan first, and then someone else is left holding USD, and then they have to figure out what to do with those USD.
Instead, foreigners turn around and buy the safest, most liquid security in the world: US treasuries. Some of them also simply hold USD in cash (or deposits in their local bank). As I noted above, these are liabilities of the US government that the US is more than willing to issue. No other country, including the Eurozone, looks remotely capable or willing to do that anytime soon.
Which is why there are so many dollars and treasuries held by the rest of the world.
Could that change as countries decide to trade in their own currencies instead of the USD? Sure, but there鈥檚 a problem.
Take Saudi Arabia and China, for example. The former could sell oil to China in yuan, but then the Saudis have to figure out what to do with those yuan. They鈥檇 have to buy assets in China 鈥 but there aren鈥檛 too many of that, especially Chinese government bonds.
China has capital controls as well. which means it may not be easy for the Saudis to pull their money out of China in the future, especially during a crisis when the Chinese want to limit outflows. Capital controls are how the Chinese control their currency, and it鈥檚 hard to see them letting go of that lever anytime soon.
In sharp contrast, the Fed is willing to act as the global central bank, supplying dollar liquidity to the rest of the world when there鈥檚 a crisis.

The global economic model is unlikely to shift

The Chinese could decide they don鈥檛 want extra dollars. So instead of selling all the extra stuff they produce to Americans, they could sell it to Europe, the rest of Asia, and Africa. But the thing is, those countries don鈥檛 want too many of those goods either 鈥 because consumption is not as big a part of their economies (like the US).
Now, the Chinese could decide not to produce as much, but that is not a recipe for economic success.
Ideally, their own citizens would buy all the extra stuff they produce. But here鈥檚 the problem: Chinese households don鈥檛 earn enough to buy all those extra goods, and they save a lot more than Americans. They have to since there鈥檚 nothing like Social Security or Medicare there. China then channels these savings into investment, which leads to a lot of buildings, infrastructure, and industrial production, which is what drives their economy.
The Chinese government could 鈥渇ix this,鈥 but that involves a significant shift in how their economy works 鈥 essentially redistributing national income away from the government and businesses to households. A massive political project that鈥檚 unlikely to happen anytime soon.
It鈥檚 not just the Chinese. It鈥檚 the Germans, too, along with countries like Taiwan and South Korea, all of whom are reliant on exports to drive their economies.
A shift away from the economic model that these countries are reliant on to a model that is consumption-led is very difficult. As the previous chart shows, its actually gotten worse over the last few years as US trade deficits grew even more.
In fact, it would be better for US manufacturers if other countries do switch their economic model. Because that would mean they could buy more stuff that鈥檚 made in the US. And trade would be more balanced.
In any case, there鈥檚 no practical alternative to the U.S. dollar right now, and its dominance is likely to remain in place.

STOCK MARKET VIDEO: Stock Market Analysis Video for Week Ending April 7th, 2023

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STOCK MARKET VIDEO: ShadowTrader Video Weekly 4/9/23

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Here are the most notable companies (tickers) reporting earnings in this upcoming trading week ahead-
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(T.B.A. THIS WEEKEND.)

(T.B.A. THIS WEEKEND.) (T.B.A. THIS WEEKEND.).

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I hope you all have a wonderful 3-day weekend and a great trading week ahead StocksMarket. :)
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