Fading good Retail Sales
|S&P 500 went for new ATHs on the good retail sales and tame unemployment claims I predicted (multiple clues), overcoming Monday‘s pre-ASML highs premarket. The upswing was faded, forcing temporarily lower S&P 500 and Nasdaq values, yet I called for repairing of the damage being done in our channel early in the European day already – and swing trading clients couldn‘t care less as the fishing expedition below 5,880 support, and off we go repairing the damage, as I‘ve told during the fading one of you the client 1:1 that it would take 5-7 candles on the 4hr S&P 500 chart to get it seriously obviously underway.
Also the latest premium analyses on the gold and silver path, and oil path this week had been turning out great – those retail sales providing yet another welcome dip for precious metals long additions, just check the tweet links provided as they contain annotated charts featured daily for clients.
Circling back to stocks, NFLX earnings turned out good in yet another hint at consumer strength – I had been vocal for clients lately that consumer resilience is being underappreciated (yes, for all the slowing demand on the high end, XLY isn‘t falling apart at the seams). See the dollar chart for more clues.
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