While Russell 2000 would prove medium- and long-term most resilient, and rotations failed to save S&P 500 yesterday – such a risk-off day that even aftermarket pump didn‘t work much as even good earnings had been sold into. Tells you much about the sentiment and creeping deterioration covered so amply in Sunday‘s extensive article. Note the long IWM short NDX spread trade call made there – following yesterday, I view discarding the long IWM part as most justified.

Had already said so in the early European hours today in our channel – and this is what I had posted there as well. Never underestimate the sapping power of remaining in a bad trade, and the same goes for my life in general and my journey of late.

Chart

While the individual stocks dissection within the premium daily S&P 500 chart makes clear what I expect to happen next, I‘ll just add for the record – look for NVDA earnings to set the tone while FOMC minutes won‘t add to the risk sentiment. I‘ll be as always making moves and commenting in both intraday premium channels.

A little sample from earlier today, and how it‘s going – no further commenting required I guess.

Chart

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

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Crude Oil

Chart

Crude oil is delaying the move into $81 - $82 zone, but I‘m not looking for the bears to get far today or tomorrow.

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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