S&P 500 rally yesterday was totally unconvincing, and allowed for most opportune short positions initiation. Combined with my increasingly bearish calls for stocks to roll over, today is one of those days to celebrate. The analysis today will be therefore brief, and presenting the call for stocks to roll over late yesterday, S&P 500 topping out below 4,300, and positioning going into today‘s PPI, housing and unemployment data. What a stagflation combo bringing up 50bp Mar talk on the table!
The bears aren‘t likely to waste this chance, and a solid day in the red awaits. Yesterday‘s signs were clear (chart courtesy of www.stockcharts.com), and real assets are to hold their ground increasingly better over time. Refresh your 1970s studies or memories even if not first hand, as these will keep serving you well!
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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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