Monica Kingsley
Monicakingsley
S&P 500 had the opening upswing sold into heavily, Nasdaq kept underperforming – and we have key tech earnings with CB consumer confidence and JOLTs data. Equally worryingly, good bond auctions saw their upswings sold into, and S&P 500 market breadth was nothing to call home about.
It seems that FOMC turbulence is being pulled forward a bit, and what I had foreseen as regards Russell 200 (bout of underperformance of Nasdaq), also came true. I doubt that Powell would bring too much relief to equities (too much is the key phrase here), and instead we might see VIX and defensive posture finish its job (its larger move underway) – more details and expectations as usual reserved for clients, I‘ll just say that S&P 500 sectoral view lacked clear thematic leaders (XLC itself doesn‘t cut it).
Let‘s mve right into the charts.
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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