Turnaround Tuesday
|S&P 500 was slated to rise either during yesterday or today, as the discussed barrage of tightening and worsening real economy news drove asset prices inordinately lower on Friday too. Monday‘s feeble upswing wasn‘t restored after the open, and steady deterioration breaking through 3,850 opened the gates to 3,815 and potentially 3,780s then. Japanese jitters didn‘t help.
Today‘s picture is shaping up brighter even as stocks languish close to the unchanged mark. The European session has gone well. The ingredients for an upside surprise driven by unyielding crude oil, and sharply rebounding silver (followed a bit too tamely by copper) while gold is looking fine on a daily basis, bode well for stocks today and later this week. If you want to play this short-term rebound, make sure you don‘t overstay the welcome, and lock in open profits via frequently updated trailing stop-losses.
Keep in mind the bigger picture till the year end. Very much looking forward for returning to the usual frequency, scope and presence as of Jan 02, 2023! Thank you for your patience, and have blessed days ahead!
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.