S&P 500 continued higher on very good market breadth and with bond market support, but already yesterday I announced I was looking for a NFPs facilitated setback aka daily correction preceded by relatively shallow premarket session as job creation, unemployment rate, participation rate and hours worked all showed that the job market remains tight, spurring fresh bets on hawkish Fed to the delight of dollar bulls.
Today‘s analysis will be brief as things have worked pretty fine – and you know I had been very busy this week on Twitter… I‘m so glad to hear how you‘ve been killing it in the markets! Let‘s keep charting our path!
Daily supports are the badly test 4,145 followed by 4,085, which the bears would like to see reached today – and I think they can get halfway there today. For next week (not meaning Monday to be clear), we have.4,225 on the upside as the most ambitious target that would provoke a battle to get overcome. Chart courtesy of www.stockcharts.com.
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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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