Monica Kingsley
Monicakingsley
S&P 500 could have put a local bottom Dec 31, but instead we had to wait for today when we got the clear 5,930 breakdown and intraday reversal that I have talked in relation to market breadth developments in yesterday‘s video (forget not to be sending your chart requests for one of the upcoming videos). A slide not brought up there that became since way more prominent in implications, is the Bitcoin chart shown below – affecting through oh so wanted yields retreat precious metals positively. Also oil keeps moving towards my key level given to clients lately.
So what‘s so remarkable about today? Yields daily retreat fueling risk taking, helping Russell 2000 (this one had been only gradually losing altitude, and has MACD histogram as well positioned as S&P 500 (Nasdaq is a laggard in such a daily environment no matter what NVDA does) and crypto surge starting anew.
Let‘s dive into several charts, and continued with many more in the premium section – it‘s the start of the month, let me welcome you and serve you.
And what follows, is a little preview of the stock market setup – it‘s oversold, but is it enough oversold? We‘re seeing the answer being given as we speak.
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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GBP/USD holds around 1.2400 as the mood improves
GBP/USD preserves its recovery momentum and trades around 1.2400 in the American session on Friday. A broad pullback in the US Dollar allows the pair to find some respite after losing over 1% on Thursday. A better mood limits US Dollar gains.
Gold retreats below $2,650 in quiet end to the week
Gold shed some ground on Friday after rising more than 1% on Thursday. The benchmark 10-year US Treasury bond yield trimmed pre-opening losses and stands at around 4.57%, undermining demand for the bright metal. Market players await next week's first-tier data.
Stellar bulls aim for double-digit rally ahead
Stellar extends its gains, trading above $0.45 on Friday after rallying more than 32% this week. On-chain data indicates further rally as XLM’s Open Interest and Total Value Locked rise. Additionally, the technical outlook suggests a rally continuation projection of further 40% gains.
Week ahead – US NFP to test the markets, Eurozone CPI data also in focus
King Dollar flexes its muscles ahead of Friday’s NFP. Eurozone flash CPI numbers awaited as euro bleeds. Canada’s jobs data to impact bets of a January BoC cut. Australia’s CPI and Japan’s wages also on tap.
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