Climbing a Wall of Worry
S&P 500 decisively closed the bearish gap I told you about Sunday, in spite of a very lackluster European session. The US open though offered merely one good correction – too swift to take advantage of in swing trading, but fine enough to add to our +33 ES pts intraday gains delivered for you (our = me and Ellin – finest public statement coming, and my Join page already features new descriptions of mine and our services).
The gold and oil expectations turned out reasonably well too – the late day gold upswing is being duly dialed back today, with oil being the one where I look for more resiliency than in gold or the much more challenged copper.
More real assets commentary including deep stock market one is presented in the chart section, and today I‘m opening individual stocks analytical part so as to invite more feedback. Thank you for the interest and warm reception of yesterday‘s tech and NFLX segment.
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Let‘s move right into the charts (all courtesy of www.stockcharts.com) – today‘s full scale article contains 5 of them.
Sectors and Stocks
Both ISINs of Alphabet are well positioned here, and I like META still too. Lower volume isn‘t an issue – relative resilience within the Magnificent 7 is promising. Support and direction expectations are given in the chart description.
Palantir is leaving the long sideways consolidation, and the upside is greater here than downside – both in terms of nearest days and nearest weeks. Precision targets with reasoning I gave in the caption – the volume is especially convincing.
Gold, Silver and Miners
Gold and silver are to see some selling pressure today on no greater and faster war escalation – for now, still benefiting from the retreat in yields I talked as well Sunday would happen. What‘s new though, is dovish Fed remarks, which move the daily gold target some $5 higher, to the $1,865 – $1,870 range.
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Thank you,
Monica Kingsley
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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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