Make Kitco Your Homepage

Hawks and surprises

Commentaries & Views

S&P 500 didn't like CPI coming in line with expectations, and it was indeed "buy the rumor sell the news" reaction, followed by cutting into 4,010 on confirming bond and dollar price action. No fresh fuel though making for a larger reaction.

And today we have some telling bank earnings, facilitating the approach to 3,955 – and University of Michigan consumer confidence data which wouldn't prove any huge disappointment. Just around the expected figure, making for an uneventful session Friday, with the only two daily questions being whether the buyers can reconquer 3,980, and whether the sellers can push below 3,955 closer to 3,910 or at least midpoint.

Remember, the Fed is hawkish and will remain hawkish, and the rally is running on borrowed time

Keep enjoying the lively Twitter feed serving you all already in, which comes on top of getting the key daily analytics right into your mailbox. Plenty gets addressed there (or on Telegram if you prefer), but the analyses (whether short or long format, depending on market action) over email are the bedrock.

So, make sure you're signed up for the free newsletter and that you have my Twitter profile open with notifications on so as not to miss a thing, and to benefit from extra intraday calls.

Let's move right into the charts (all courtesy of

S&P 500 and Nasdaq Outlook

Given the banking earnings aftermath, the key "point of control" at 3,955 has to hold so as to prevent levels mentioned in the opening part of today's analysis. Close above 3,980 would be ideal for the bulls, but unless 4,010 is cleared, stocks remain in a precarious zone, and vulnerable to swift reversals at the 200-d MA.


Copper consolidation mentioned yesterday, looks to be starting. Risk-on consequences, so watch out.

Thank you for having read today's free analysis, which is a small part of my site's daily premium Monica's Trading Signals covering all the markets you're used to (stocks, bonds, gold, silver, miners, oil, copper, cryptos), and of the daily premium Monica's Stock Signals presenting stocks and bonds only. Both publications feature real-time trade calls and intraday updates.

While at my site, you can subscribe to the free Monica's Insider Club for instant publishing notifications and other content useful for making your own trade moves.

Turn notifications on, and have my Twitter profile (tweets only) opened in a fresh tab so as not to miss a thing – such as extra intraday opportunities. Thanks for all your support that makes this great ride possible!

Thank you,

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.