Monica Kingsley
Monicakingsley
S&P 500 continued on Friday‘s hesitant tone, and slid on Powell throwing cold water on excessive and fast cuts expectations – granting us great entry precisely at the daily lows. Are bulls though clearly favored here? I see some hesitation and outright worrying (and ignored) AI signs that weren‘t exactly reflected in SMH, SOXL etc. So, one has to be cautiously bullish only, until proven otherwise (a matter of individual trade management). I would be cautious about piling into Bitcoin as well – doesn‘t look ready to take on $66,000 by Thursday.
The below two charts show clearly why is that, what‘s lining up as a result of not dovish Powell speech – and the same applies to the developing gold and silver correction that I‘ve cautioned clients about in the latter half of prior week. As these will further read, there is a distinct difference between oil and copper prospects (yes, China is on holidays) – and the same goes for natgas and uranium talked for around a week already.
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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