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SPY Correction Risk Flashing

S&P 500 rallied on ASML earnings expectations and the actual figures, made it over my 4,920 target, but ran out of steam thanks to a weak 5y Treasury auction. In my view, that‘s a bearish daily victory in stocks that also forced a sizable retreat from daily highs in the most resilient index of them all, Nasdaq.

But clients have cashed in +25 ES pts whether swing trading, or made an absolute killing if they combined it with fine intraday calls in NDX and ES…

Thank you for all the recognition – great to see it‘s working out great for you… Here is what I expect from the coming set of data – GDP and then unemployment claims.

intraday

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Let‘s move right into the charts (all courtesy of www.stockcharts.com) – today‘s full scale article contains 2 of them, featuring S&P 500, and precious metals.

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S&P 500 and Nasdaq Outlook

S&P 500 and Nasdaq

Falling through 4,920 wasn‘t a fine sight given how much Nasdaq was struck simultaneously. That‘s the result of risk-off emerging fast following a weak auction, and the daily rise in volume is sealing off the odds for the coming days, just waiting for a catalyst – but yes, today buy the dippers are back.

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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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