Forget Higher For Longer
S&P 500 had trouble extending gains above 4,535, and is ripe for a consolidation. Even if yields have increased yesterday, and market breadth was poor (advance-decline line only a tad above 300), equal weighted S&P 500 isn‘t looking bad really. All in all – apart from the profitable calls made in these daily swing trading publications, I‘ve managed to add more ES and DAX intraday gains in our Telegram channel, and I must say the fact that DAX performed this way, bodes well for risk taking in general, as you can see from the (premium) bond market analysis below.
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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, featuring S&P 500, credit markets, precious metals and oil. with copper
Crude oil confirmed my yesterday‘s words about indeed turning out as weakest of the pack, and today‘s great success would be defending $76 – far from guaranteed, WTIC is not bullish yet.
Copper‘s turn mirrors the silver one – and is nothing to fear, and $3.72 would become a fresh support soon – just compare base and precious metals performance lately.
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.
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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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