Precious Metals Are Clear
S&P 500 ran with CS relief that had something for both bail-out and bail-in proponents, disregarding further KRE weakness outdoing XLF, as tech continues attracting fine bid no matter what yields are doing. Together with general bond market underperformance, this is building up non-confirmations and vulnerability to any hawkish Powell statements tomorrow.
Stocks in their daily risk-on turn are willing to run with the current moves as being enough to maintain and restore confidence. Even if the banks don‘t need to compete for deposits, and didn‘t hedge the rising rates totally, stocks are disregarding that for now.
The picture is though still of the dust not really settled, and S&P 500 continuing trading in a relatively wide range above Oct lows. The daily outlook thus far confirms uneasy session ahead for the bears (continued pain), with bond yields and the dollar being the key determinants of risk sentiment ahead as much as copper with silver (if I had to pick only two).
Keep enjoying the lively Twitter feed via keeping my tab open at all times (notifications on aren’t enough) – on top of getting the key daily analytics right into your mailbox. Combine with Telegram that never misses sending you notification whenever I tweet anything substantial (head off to Twitter to talk to me there), but the analyses over email are the bedrock.
So, make sure you‘re signed up for the free newsletter and make use of both Twitter and Telegram so as to benefit from sophisticated talk and extra intraday calls .
Let‘s move right into the charts (all courtesy of www.stockcharts.com).
Gold, Silver and Miners
Precious metals do remain in vogue, and I‘m not looking for any kind of a powerful pullback. If we see 25bp tomorrow with some hawkish language on readiness, and not too much banking / deposits fights, gold followed by silver would keep their own. Consider pullback below $1,950 a gift (may come before FOMC as almost usual) – this is the main star of 2023.
Thank you for having read today‘s free analysis, which is a small part of my site‘s daily premium Monica’s Trading Signals covering all the markets you’re used to (stocks, bonds, gold, silver, miners, oil, copper, cryptos), and of the daily premium Monica’s Stock Signals presenting stocks and bonds only. Both publications feature real-time trade calls and intraday updates.
While at my site, you can subscribe to the free Monica‘s Insider Club for instant publishing notifications and other content useful for making your own trade moves.
Turn notifications on, and have my Twitter profile (tweets only) opened in a fresh tab so as not to miss a thing. Thanks for all your support that makes this great ride possible!
Stock Trading Signals
Gold Trading Signals
Oil Trading Signals
Copper Trading Signals
Bitcoin Trading Signals
* * * * *
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.
Sign Up for Monica’s Insider Club!
It’s free and you’ll get my message right when a new post goes up.