Predicted NVDA Fireworks

S&P 500 wobbled just as during preceding NVDA earnings, offering nice long entry opportunity for intraday traders while not jeopardizing long swing profits of investors. Clients couldn‘t been happier – below, I‘m bringing you yesterday‘s premium analysis incl. commentary predicting what we saw unfold (just imagine how much you would have benefited personally knowing these) – note how well the 5,307 support called held.

S&P 500 and Nasdaq

5,335 remains the daily „point of control“, and odds are that even if pre-NVDA panic strikes that 5,307 would still hold. Connecting the dots of recent Druckenmiller statement and good showing by quite a few tech stocks (KLAC, AMAT to name only two), raises the odds of seeing the actual earnings received positively by the marketplace, and those overvaluation words by hedge funds able to move the markets, being a buying opportunity.

Today, we‘ll see more of the broadening S&P 500 rally, led by Nasdaq of course – and given the real asset troubles developing beyond oil, I don‘t expect materials and energy to spring anyhow fast back to life. Consumer discretionaries though offer nice bottoming view, and rotations are always there.

More details and timely calls / analytics follow below.

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Let‘s move right into the charts (all courtesy of www.stockcharts.com) – today‘s full scale article contains 3 more of them, with commentaries.

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Gold, Silver and Miners

S&P 500 and Nasdaq

Precious metals bulls, per yesterday‘s live call, it‘s best to step aside for a while – the copper downswing isn‘t a bullish sign either. Miners will follow lower and base as well – yesterday‘s intraday attempt to hold the ground clearly failed. Inflation trades will take backseat to growth stocks as the upcoming CPI is likely to cheer up the rate cut enthusiasts within the Fed, as the below oil chart hints at.

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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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