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Symptoms of Rising Dollar

S&P 500 refused the intraday downswing, and bonds confirmed the relative resilience. The reprieve in long-dated Treasuries (driven by darkening real economy prospects – just wait for the upcoming non-farm payrolls, I‘m looking for these to disappoint, and to start illustrating the darkening clouds more than merely on the horizon) is on, and the retracement won‘t stand in the dollar‘s way too much. When it comes to real assets, one must look to the associated stocks, be they miners or oil stocks. As yesterday‘s universal, liquidity driven selling was coming to a pause, it was especially oil that came back best. Relatively best as the steep rise in its daily volume doesn‘t spell stabilization yet – a bottom must be carved, and my second support level of $93 may very well still come into play over the coming weeks – before the new upleg develops. And it would be a juicy one if you look at the murmurs around Permian Basin etc. Copper and silver are to remain challenged the most in the current environment – no suprise here, I‘ve been writing about that for weeks. Cryptos are pausing in the long decline, and can‘t be expected to turn decisively. Overall, lackluster day ahead where stocks haven‘t bottomed yet, but real assets are in for a daily reprieve after yesterday‘s beating.

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Monica Kingsley
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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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