In the Crosshairs
S&P 500 upswing was partially rejected yesterday. Is there more to come? I doubt so, credit markets keep acting weak, and the dollar is of course up. The TLT intraday upswing was simply too unconvincing to turn the tide, and HYG continued down. Finally though, the yield curve stopped inverting – game changer enough? Not in my view. Friday‘s session is likely to end up in red for the 500-strong index, and tech is going to be in the bears‘ focus.
Precious metals are still consolidating, but with a bullish flavor – and the same goes for the large triangle in oil. Both miners and oil stocks are quite strong here, and a break higher is a question of time. Not too much of headlines, but of another crack in the inflation fighting confidence dam. Looking at inflation expectations, the verdict has been cast already. Meanwhile, copper is consolidating, and acting bullish already. Inflation isn‘t going to be beaten this easy, the message is clear. And as cryptos are heading into a difficult weekend, the pressure on paper assets would likely continue while real assets would remain considerably more resilient.
There won’t be a regular analysis featuring charts or Twitter activities today 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.
Returning early next week!
Thank you for your patience.
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Thank you,
Monica Kingsley
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mk@monicakingsley.co
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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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