Monica Kingsley
Monicakingsley
S&P 500 met pretty contradictory growth and inflation data yesterday, choosing to first slide, do an oversold rally, and finally crater again. Money went of course into Russell 2000, regional banks and homebuilders – just a few of the post-CPI stars I had been highlighting after the fact.
Still when the upside momentum was good, I didn‘t trust the the rally‘s foundations, and treated it more as a squeeze, as paring back of bearish positioning ahead of today‘s core PCE. GDP came in hot at 2.8%, but durable goods orders somehow fell by -6.6%. Similarly, you see me taking on the inflation data in the below two posts in our channel – clearly stating as well what I think about the stock market path in the aftermath of core PCE (majority are expecting a soft figure). Most simply put, it‘s up, down, up intraday for S&P 500, and that‘s still before the US open – based on intermarket and macro reading, what comes next I‘ll cover on Telegram.
Pay also attention to maket breadth and the accompanying commentary.
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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