Shaking Out Weak Hands
S&P 500 upswing continues, and credit markets have turned up and risk-on. Further stock market gains are likely given the way tech rose on the TLT upswing while value largely held ground. This is very positive as it readies the 500-strong index for another rotation, this time driven by value. The open long profits keep rising.
Precious metals lost ground, but there isn‘t a selling stampede in the miners – yesterday‘s move was reflective of the continued dollar upswing and temporarily retreating inflation expectations. PMs bull run is on, and we‘re in a consolidation of the key breakout above the declining resistance line connecting roughly the Aug 2020, Jun and Nov 2021 tops. Crude oil is likewise consolidating prior sharp gains, and oil stocks continue leading higher. Copper is bullish as well. Let the smashing real asset rides continue – they‘re bound to keep running regardless of the appreciating dollar, reflecting the tectonic shifts happening geopolitically.
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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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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