Monica Kingsley
Monicakingsley
S&P 500 closed the bullish MU earnings driven gap – clients knew I wasn‘t bearish, and the resulting good data (no negative surprise) were in line with expectations. Yet, equities sold off in what I consider just a technically driven move to shake off weak hands, offering a fake Russell 2000 breakdown earlier today – only to take equities back close to where they declined from.
Bond auction (the 7y one) went well, and rate cut odds haven‘t changed much on a day to day basis. Today, I expect an in-line core PCE figure – and that will result in no deer in the hearlights moment for equities bulls. A bit more is though required for return into 5,8020s, and I discuss that in the premium stock market section.
Let‘s check bonds and the dollar next – you can also check the nice DAX upswing for extra clues.
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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