Monica Kingsley
Monicakingsley
S&P 500 opened with a flush to my 5,840 target, but then started slow grind higher driven by tech and communications. Yes, I was bullish GOOGL and AMD earnings – the first delivered smashing, the beat of the second one wasn‘t deemed impressive (cash flow reason), but still the data centers story has positive consequences for a broad universe incl. AMZN and META.
The day brought also consequences for select sectors discussed in the caption below – I‘ve been talking already last week about yields about to make a local top soon, and about the anatomy and consequences of elections positioning, which trades have gotten traction in last weeks, and what that means going into next week – aka how far and for what reason will the rubber band snap back.
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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Editors’ Picks
EUR/USD holds above 1.0850 after EU inflation data
EUR/USD trades marginally higher on the day above 1.0850 in the European session on Thursday. The data from the Eurozone showed that the annual HICP inflation rose to 2% in October from 1.7% in September, helping the Euro hold its ground.
USD/JPY falls below 152.50 as markets assess BoJ policy decisions
USD/JPY stays under bearish pressure and trades below 152.50 on Thursday. The Bank of Japan (BoJ) left its policy setting unchanged but Governor Ueda noted that the impact of foreign exchange rate on prices had become larger than in the past.
Gold holds near $2,780, looks to US PCE Price Index for fresh impetus
Gold stays in a consolidation phase after setting a new record-high of $2,790. US political jitters and Middle East tensions might continue to act as a tailwind for the XAU/USD. Traders keenly await the release of the US PCE Price Index before placing fresh directional bets.
Uniswap Price Forecast: Technical outlook suggests a bullish breakout ahead
Uniswap is trading slightly below $8 on Thursday after rejecting a key resistance level on Wednesday. A successful close above this threshold could indicate a rally for the decentralized exchange, bolstered by technical indicators showing a bullish crossover pointing to potential upward momentum.
German economy surprises in the third quarter
The German economy avoided a technical recession in the third quarter, showing unexpected growth. However, this does not change the fact that the economy remains stuck in stagnation.
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