Monica Kingsley
Monicakingsley
S&P 500 retraced some of Wednesday‘s decline, dipped after the open only to push higher into the close – again, and again clients profited both short and long (Ellin‘s TSLA call move ended up smashing – let‘s see how the stock trades today, whether it can sustain the momentum to the finishing line Friday).
I already presented today‘s intraday game plan – but now, let‘s ask whether anything is changing in the markets, and let‘s start with looking at yields, then you can check the dollar and how various risk metrics are stacking up.
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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AUD/USD stays weak below 0.6600 on US Dollar demand
AUD/USD is trading on the back foot below 0.6600 in Asian trading on Monday. The pair shrugs off China's stimulus optimism and a risk-on mood, as the US Dollar remains in demand and drags it lower amid a quiet start to a big week.
USD/JPY pares gains to near 153.50 amid Japanese political uncertainty
USD/JPY retreats to near 153.50 early Monday after rallying hard to 153.90. The Japanese Yen fell to a fresh three-month low against its American counterpart after Japan’s longtime ruling party lost its majority for the first time in 15 years at Sunday's national election.
Gold buyers turn cautious, as a Big week kicks in
Gold price has lost its two-day recovery momentum, trading below $2,750 amid a quiet start to a big week on Monday. Gold buyers did find acceptance above the $2,740 static resistance on Friday but the further upside appears elusive on resurgent US Dollar demand.
Bitcoin $66,000 support remains strong
Bitcoin found support around its crucial level of $66,000, suggesting a potential recovery. However, Ethereum and Ripple show signs of weakness, and a close below their key support levels would continue their ongoing decline.
US elections: The race to the White House tightens
Trump closes in on Harris’s lead in the polls. Neck and neck race spurs market jitters. Outcome still hinges on battleground states.
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