Yields, SPY and clearer prospects
|S&P 500 came knocking again on low 6,060s, and succeeded – I had an open mind, calling for the best bearish times as over with the China countermeasures announcement – such were the gains for clients the day before, and what about yesterday? The ride towards the resistance was fine in intraday tech terms as the pre-ARM earnings atmosphere allowed for solid daily outperformance. Trading Signals clients benefited greatly on gold resilience and as well on the little noticed oil short call reaching exactly my ultimate daily target of $71.
Where do we go today, is there a pullback or even rug pull coming? That‘s what covers today‘s fast 5min video talking tech outperformance of ES prospects, yields path and S&P 500 breadth lessons among much else.
AMD had been my bearish pick for earnings, but today it‘ll hitch a ride on NVDA coattails. GOOGL tanked as it missed on cloud, META is the (open source) winner, AMZN I‘m leaning a bit bearish (AWS not making its numbers all too greatly). NVDA holding 200-day moving average, is that enough? AVGO stepped into the void, and is doing fine still, I would be cautious TSLA (short-term outlook switched bearish as opposed to the boring bullish financials – this is just a small example of what kind of guidance clients are getting (ARM is closer to being my cup of tea really!). Check Russell 2000 performance, too.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.