Monica Kingsley
Monicakingsley
S&P 500 opening push was rejected, and the reasons were related to discretionaries and ASML bookings of course. Their untimely release sent the „AI sector“ down, and there were these pockets of relative strength remaining (and as the below chart shows, more of these were available, premium discussed now). China trades haven‘t found strong footing yet either – such was my prior Wednesday‘s premium call as to where HSI starts getting interesting again.
Summing up, already going into Tuesday without either semis or retail news striking, the S&P 500 chart setup called for protection of latest swing long gains, resulting in +74 ES points gained since Friday‘s PPI. Bitcoin also wobbled in the ASML aftermath, and MSTR stood no chance either in the risk-off rush (check the early stage of breakout above the downward sloping BTC channel) – and the generally bullish expectations going into retail sales tomorrow, got their clock cleaned. And here we are, with premarket stabilization trying to turn into a meek rebound attempt after the opening bell. Attempt, perhaps – here is my commentary from our channel.
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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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