Monica Kingsley
Monicakingsley
S&P 500 rose late session in expectation of bolstered rate cutting bets via cooler GDP (and unemployment claims), but that didn‘t happen – the bulls have one more obstacle ahead of core PCE to grapple with – and they stand better chance of doing so (forcing a draw at least) today than as regards next week‘s opening gap as markets are closed tomorrow – Happy Easter if you celebrate!
This is how I summed it up in the GDP run up in our channel.
5,270 will be most easily challenged and perhaps broken next week, depending on the magnitude of core PCE surprise. Overcoming 5,320s has to wait till Jun rate cut is uncontested again just as the move in its odds showed from Tue to Wed (61% to 64%). I‘m striking a cautious tone as regards the great equities appreciation and beautiful rise in Treasuries and Russell 2000 amply talked three months ago.
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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