Starting To Crack
S&P 500 fulfilled my overnight target of 4,149 at least, and had been having issues extending gains before the manufacturing data release. That figure grossly underperformed, and together with Bostic remarks and acknowledgement of still tough times ahead in banking (cascading rate hikes impact), is to duly keep a lid on stocks, and send S&P 500 to close well below 4,136 today.
See that for all the fleeting improvement in market breadth on Friday, the most robust metrics such as advance-decline volume and new highs new lows, continue having issues – and neither the advance decline-decline line is convincing (chart courtesy of www.stockcharts.com). These technical factors will be increasingly more relevant this week when the (bearish) debt ceiling starts again taking center stage after a headlines-free today.
Some company earnings thought follow.
After correct predictions of TSLA, AAPL earnings (market impact), I was asked about WMT and TGT – on a company level, I of course expect WMT to do considerably better than TGT. Note though XRT weak chart posture, and how relatively well XLY is still doing. Therefore, I‘m looking for especially WMT beat on profits, less so on revenue (if volume sales are taken into account) and darkening guidance – these earnings won‘t send S&P 500 lower while TGT effect would be more neutral.
As for HD, this one could be weakest out of the three tickers mentioned, no matter how well XHB is doing. I‘m looking for the relative calm in real estate to go as it‘s impossible to the supply to be brought into the market when favorable mortgage rates had been locked years ago, and the short end of the curve is now disincentivizing the move.
Keep enjoying the lively Twitter feed via keeping my tab open at all times (notifications on aren’t enough) – combine with Telegram that always delivers my extra intraday calls (head off to Twitter to talk to me there), but getting the key daily analytics right into your mailbox is the bedrock.
So, make sure you‘re signed up for the free newsletter and make use of both Twitter and Telegram – benefit and find out why I’m the most blocked market analyst and trader on Twitter.
ribed.
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!
Thank you,
Monica Kingsley
Stock Trading Signals
Gold Trading Signals
Oil Trading Signals
Copper Trading Signals
Bitcoin Trading Signals
www.monicakingsley.co
mk@monicakingsley.co
* * * * *
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.
