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Shaking SPY Tree

Swing traders needn‘t worry, but I was really cautious in our intraday channel yesterday. First slowly, then suddenly the bid evaporated – but client gains were protected. As the best explanation of what happened – whenever the boat is tilting too much one way, and this bull run had been heavily extended for a while, considering how far stocks advanced since end of Oct – I‘m releasing today‘s premium S&P 500 chart that gives you my proper intermarket view from a very short term perspective, together with stock market expectations once we make it through the opening days of 2024.

Forget not about tomorrow‘s core PCE (let alone today‘s set of data where lower GDP is bullish risk taking) and the lower volumes making for greater volatility – such a hit rarely comes unaccompanied… This is how I summed it up in our intraday channel.

intraday

Keep enjoying the lively Twitter feed via keeping my tab open at all times (notifications on aren’t enough) – combine with subscribing to my Youtube channel, and of course 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 whether by newsletter authors or hedge funds (either blocking me or following me).

Let‘s move right into the charts (all courtesy of www.stockcharts.com) – today‘s full scale article contains 3 of them, featuring S&P 500, precious metals and oil.

Tired of seeing those red boxes instead of way more valuable information? Try the premium services based on what and how you trade.

S&P 500 and Nasdaq Outlook

S&P 500 and Nasdaq

My 4,735 (let alone 4,715) support level hasn‘t been reached, and the heavy selling affected all sectors quite equally, with the exception of XLC that had been my sectoral pick to outperform S&P 500 (among the non interest rate sensitive plays) for quite a while.

Full scale premium content reserved for Monica’s Trading Signals subscribers. Log in to your premium account to read it.
Premium content (covered in full within Monica’s Trading Signals) reserved for Monica’s Stock Signals subscribers. Log in to your premium account to read it.
Full scale premium content reserved for Monica’s Trading Signals subscribers. Log in to your premium account to read it.

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Thank you,

Monica Kingsley
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mk@monicakingsley.co

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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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