Monica Kingsley
Monicakingsley
S&P 500 faced sellers right at the open, and the telltale was Nasdaq underperformance – making for quick intraday short gains on the first dump already. Monday‘s ES levels and tired bumping of NDX into upside resistance established that day, didn‘t allow for any addition to swing longs – while the bull upleg is firmly established for 7 days already, a test of the below indicated supports isn‘t out of the question, especially when I had been voicing distrust of semiconductors and Nasdaq early yesterday (TradingView heatmaps included).
Continuing with chart-packed daily analysis, consider for all the stellar crypto gains called for you weeks before markets made up their mind on the elections, and note as well the called steeply rising USD amid the calm in options market.
Thank you for the great reception of extensive Sunday‘s analysis charting the stock market path months ahead. Look at Bitcoin to set the risk-taking tone, and beware of upcoming inflation data too before rushing in long.
Let‘s mve right into the charts – today‘s full scale article contains 3 more of them, with commentaries.
Gold, Silver and Miners
The following statement proved correct yesterday - there are many great long-term reasons to be a precious metals bull, but I say the short-term path (lower) will offer more favorable entry points than the levels where prices are now – for gold, silver and miners alike. That would be more ounces or shares accumulated by those of you patient enough to let the selling run its course (not there yet, no).
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.
Recommended Content
Editors’ Picks
NZD/USD stays bid toward 0.5900 ahead of RBNZ Orr's presser
NZD/USD has picked up fresh bids, marching toward 0.5900 early Wednesday. The New Zealand Dollar finds fresh buyers after the RBNZ announced 50 bps interest rate cut to 4.25%, as widely expected. Kiwi buyers shrug off dovish guidance by the RBNZ. Orr's presser eyed.
USD/JPY stays pressured below 153.00, US data eyed
USD/JPY slides to over a two-week low below 153.00 early Wednesday as Trump's tariff threats continue to drive haven flows towards the JPY and exert pressure on spot prices. That said, doubts over the BoJ's ability to tighten its monetary policy further should cap gains for the JPY. US data eyed.
Gold price consolidates amid mixed cues; holds comfortably above $2,600
Gold price struggles to capitalize on the overnight bounce from the $2,600 neighborhood or over a one-week low and trades with a mild negative bias on Wednesday. The prevalent risk-on environment, expectations for a less dovish Fed, elevated US bond yields and the underlying bullish sentiment surrounding the USD act as a headwind for the commodity.
Bitcoin remains short of $100K as long-term holders capitalize on recent price rise
Bitcoin (BTC) trades below $95K on Tuesday following increased selling pressure among long-term holders (LTH) after a series of new all-time highs (ATH).
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.