Risk-on Time

S&P 500 is moving up, and Friday’s upswing that I looked for, happened, almost reaching my price target. Encouragingly, it was driven by value rather than tech, highlighting the title of today’s brief overview. The 4-6 week stock market upswing that I discussed the previous Monday, is slowly getting underway – and the crypto gains bode well for risk sentiment.

While precious metals didn’t make much progress, miners didn’t suffer in the least, and the silver downswing can be viewed as a daily respite that – should the gold and miners not retreat in sympathy next – would be short-lived. Remember, inflation is on, and inflation expectations haven’t been tamed. Talking sympathy, copper took a hit that’s however out of tune with commodities. Either we would see crude oil roll over after its second, lower top (not too likely) dragging commodities down on increasing volume, or a relative stabilization around $110, which would be followed by another move taking on $115 – $120 zone. Still, copper is the safer and more headline-resistant play here.

There won’t be a regular analysis featuring charts or Twitter activities throughout a good part of this week either, 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.

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Thank you,

Monica Kingsley
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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.

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