Monica Kingsley
Monicakingsley
S&P 500 did gap bullishly, putting a profitable end to prior day‘s bearish Nasdaq ride. And just like that, tech with semis started to outperform thanks to ASMLinsisting on its China chip exports. ADP employment change coming well below expectations provided more boost to equities (Russell 2000 was still slated to underperform tech in line with my call a couple of days ago), and the risk-on positioning for FOMC went on, encompassing gold, silver, oil and copper alike.
Powell didn‘t cut, but didn‘t disappoint either – my takeaway had been of a dovish conference and statement snippets boosting the odds of a 50bp Sep cut considerably (I‘ve talked lately this becoming an increasingly realistic possibility, the odds of which are now still below 20%). Very nice opportunity for both swing and intraday gains (playing ES and RTY), very fine setup even though I think the Fed will be behind the market expectations for a rate cut (series thereof).
The weekly roadmap presented premium Saturday, keeps panning out nicely (and QCOM earnings worked out well too).
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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