HOME » STOCK TRADING SIGNALS » NFPs Rebound, But…

NFPs Rebound, But…

S&P 500 refused further downside overnight, and it was clear within the first 30min that NFPs wouldn‘t force breakdown to lower lows. Thursday‘s uncertainty and unease over geopolitical escalations was reversed, and the hot (private) non-farm payrolls data were in the end bought – even if rate cut odds understandably retreated (Jun cut only 51% and two cuts by Jul only 22%).

The headwinds for stocks are cropping up – rate cuts getting farther away, corporate share buybacks pause and tax obligations settlements. One day of dip buying following a lower low doesn‘t change that. Is the top in? No, THE top isn‘t in, but local one probably yes, and odds of not totally shallow correction have increased.

Wednesday‘s CPI isn‘t yet to come in on the very hot side (over 0.4% headline and core), but it‘s the market reaction that counts – and yields are again on the move themselves, and it‘s to the upside. Oil and gasoline aren‘t declining, oil stocks aren‘t declining – and that means inflation is going up (I‘ve been saying since late 2023 that sticky inflation will come back to the vocabulary within a few short quarters, and that by year end we‘re going to be looking at 4% if not 4.4% CPI), and also consumer is going to be more squeezed (rising credit card debt isn‘t an issue affecting retail sales still as the economy remains resilient) and corporate earnings likewise, hence valuations (P/E) would also be pressured in 2H 2024.

Friday was a success in intraday ES terms, and also of course as regards real asset calls – just like I delivered Thursday a great oil pick, Friday I favored gold to surge. On the theme of revaluation against real assets, does it mean it‘s straight up? No, pullbacks can and will come, even unpleasant ones, but let‘s get to the charts one by one.

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 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.

Let‘s move right into the charts (all courtesy of www.stockcharts.com) – today‘s full scale article contains 4 more of them, with commentaries.

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

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.

Credit Markets

S&P 500 and Nasdaq

The reprieve in yields is over, and seeing them trending up won‘t be as pleasant for the junk corporate bonds or the stock market in the near term.

Gold, Silver and Miners

S&P 500 and Nasdaq

Gold caught up Friday following Thursday‘s rest, and even at these high levels, there is more upside left before taking a breather and correcting. Miners support the upswing amply, and silver is playing catch up just as it should (not only copper is on a fine inflation driven upswing).

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.

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. Forget not the lively intraday Telegram channels for indices, stocks, gold and oil – here is how you can join any advantageous combination of these.
Go beyond the free Monica‘s Insider Club serving 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.

2 thoughts on “NFPs Rebound, But…”

  1. thank you, love your reports over the weekend … much easier reading, I must have more time.

    Please, keep safe and have fun in your life. you only get one. enjoy

Comments are closed.

Scroll to Top