Rebalancing and Pullback
S&P 500 gained amid modestly risk-on credit markets, which I looked for to happen following Wednesday’s stumbling. At the same time, crude oil including oil stocks retreated a little in what can be in no way qualified as having topped. Precious metals bucked the daily hesitation in the commodities CRB Index, but silver’s steep ascent yesterday points to a likely decline in the PMs complex today – one that would drag commodities along. Such a development is though merely temporary – we haven’t seen either commodities or PMs tops.
Summing up, no material change in the outlook of respective markets occured yesterday. Paper assets are likely to have a relatively good day while real assets will get the shorter end of the stick today.
There won’t be a regular analysis featuring charts or Twitter activities stretching into next week as well, but I’m keeping a close eye on the markets and will issue a sound commentary whenever required by the markets on my watch.
Thank you for your patience, and have a nice weekend.
Thank you for having read today‘s free analysis, which is available in full here at my homesite. There, you can subscribe to the free Monica‘s Insider Club, which features real-time trade calls and intraday updates for all the five publications: Stock Trading Signals, Gold Trading Signals, Oil Trading Signals, Copper Trading Signals and Bitcoin Trading Signals.
* * * * *
All essays, research and information represent analyses and opinions of Monica Kingsley that are based on available and latest data. Despite careful research and best efforts, it may prove wrong and be subject to change with or without notice. Monica Kingsley does not guarantee the accuracy or thoroughness of the data or information reported. Her content serves educational purposes and should not be relied upon as advice or construed as providing recommendations of any kind. Futures, stocks and options are financial instruments not suitable for every investor. Please be advised that you invest at your own risk. Monica Kingsley is not a Registered Securities Advisor. By reading her writings, you agree that she will not be held responsible or liable for any decisions you make. Investing, trading and speculating in financial markets may involve high risk of loss. Monica Kingsley may have a short or long position in any securities, including those mentioned in her writings, and may make additional purchases and/or sales of those securities without notice.
Sign Up for Monica’s Insider Club!
It’s free and you’ll get my message right when a new post goes up.