S&P 500 bulls repelled two selling attempts yesterday, and even though bonds aren‘t yet confirming, the risk-on rally in stocks (that I gave benefit of the doubt on the late Friday‘s dip), goes on. Open profits continue growing, and today is shaping up particularly well. Risk-on rally goes on, the dollar is gently tipping over, and tech would welcome the upcoming little Treasury yields reprieve. So far, the weight of the stock market advance rests with value, and the pockets of strength identified lately continue enjoying bright prospects.
Crucially, the real assets are once again catching fire here – miners no longer declining, gold and silver turning up. There‘s more to come, especially when both senior and junior miners continue waking up. The same goes for copper – the local bottoms simply appear to be in, and the relative resilience while the dollar continued still up, was indeed a hallmark of greenback‘s upcoming reversal, and renewed upswing in metals and commodities. Told you so. Crude oil of course remained least affected throughout, and the same goes for my darling energy stocks. Even cryptos are very modestly waking up – but there, I‘m not looking for any miracles.
Summing up, this is what market redialing of Fed tightening moves when faced with deteriorating real economy and manufacturing data, looks like. Add China relaxing restrictions, and the boot off real assets‘ face is coming off.
There won’t be a regular analysis featuring charts or Twitter activities today, 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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