2 Step Forward, 1 Step Back
S&P 500 didn‘t make the most out credit markets price action, but looks primed to have a better day today, which concerns primarily tech. It‘s my view we haven‘t reached the top, and the stock market rally would continue, which is confirmed by the not too outstanding volume of yesterday‘s session. So, paper assets weren‘t exactly the inspiration of today‘s title – it was crude oil.
Having reached $108 yeasterday, it‘s now back at $102 – very characteristic of the volatile, unsettled trading that I had been looking for to stretch well into and through April. This isn‘t the case of resilient copper, which barely moves to the downside. Note as well the ease with which precious metals found a local bottom, and how likely they are to eke out further gains even though they‘re so far flat in today‘s premarket. Finally, cryptos are holding up nicely, confirming the risk-on outlook for markets today, which would be accompanied by real assets resilience. The only fly in the short-term ointment, is crude oil prices, which I‘m still expecting to improve.
There won’t be a regular analysis featuring charts or Twitter activities throughout 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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