Monica Kingsley
Monicakingsley
S&P 500 offered a fine session to those looking for the daily advance to be dialed back. We‘ve seen another weak push higher premarket.that still respected my key 4,065 – 4,080 zone. As I outlined in yesterday‘s very extensive analysis, it‘s about Powell delivering upon the bare minimum bond market expectations or not (short end of the curve)– all within the context of a larger stock bear market.
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Let‘s move right into the charts.
S&P 500 and Nasdaq outlook
Modest upswing rejection, leaving one more day of selling to be desired. Powell can deliver that catalyst, and keep it alive by leaving enough of tightening guessing room available for non-farm payrolls and CPI. 4,015 would be a support harder to break.
Credit markets
Also this bond market reversal needs more selling, especially on the junk end. The TLT move by itself is though promising enough. Risk-off winds howling in the distance.
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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