The Roaring Bear
S&P 500 turned down as the fake upswing I warned you before the CPI release, ran its course very fast. Today‘s PPI is underscoring the quickening inflation, no surprise here apart from the mainstream. More power to the bears – bonds are reasonably confirming (not leading to the downside, just aligned the usual way). Market breadth keeps deteriorating, and both tech and value suffered. Even energy stocks were unable to keep intraday gains, which provides for a nice entry point as crude oil turned around, and keeps surging.
Likewise precious metals even though miners lagged a little – nothing though to be concerned about. The real asset upswings are well underway, and sectorally relevant stocks are caught up in the selling of paper assets. Copper was yesterday‘s laggard, bound to catch up in the nearest future. Cryptos remain unable to keep up, and confirm the vulnerability of risk-on assets. Defensives such as utilities and consumer staples keep doing fine, and confirm the prevailing direction and best picks I described in such a detail in Monday‘s extra large analysis. Keep enjoying the promising gains of currently open positions – much more to come as inflation expectation cast their verdict on the adequacy of current Fed tools in truly fighting price increases both here and still to come.
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.
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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