Monica Kingsley
Monicakingsley
Home sales didn‘t bring about the (Monday missed) correction, intraday gains for clients followed, but most importantly the called as not to be bearish MU earnings delivered a great lift to Nasdaq and semis prices after the close. Hence, the title of yesterday‘s article „ES 5,805 Waiting“ came true in a few hours, as we‘re no longer waiting for 5,805 beat.
Today and tomorrow are data heavy, and for now the rising odds of rate cuts (Sep 50bp odds are up) aren‘t reflected in market rates (on a daily basis ever since the pre FOMC setback to bonds called) – rising yields are taken as a sign of both reasonably OK economy (see XLY if in doubt, this wouldn‘t surge going into recession, would it) and Fed rate cutting plans (however paced) affecting future inflation.
Yesterday‘s 5y auction was good, fetching 3.52% - no panic, and short-term yields remaining very low still, can be enjoyed while it lasts (TLT would also return to ascent and overcome 101 comfortably before year‘s end).
Let‘s check bonds, and two S&P 500 charts next (one for yesterday‘s prediction, and the other after the close).
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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