Intraday Update for Stocks #1
Today’s premarket continued in the brisk pace, and my call for 4,010s rejection on the first knock, held true only for the first knock yesterday. The broad upswing in commodities, precious metals warrants waiting out my absence rather in a tightly managed long S&P 500 position, which I’ll after my return evaluate in intermarket terms so as to see whether jumping in back on the short side is already warranted, or requires a little more waiting. Simply put, bonds closed strong yesterday, markets did shake off ECB meeting expectations with 75bp hike, and next week’s CPI and PPI data are likely to fuel some more misguided (but still) rush into risk-on, including stocks. See my Wednesday’s plan for next week.
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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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