Yields haven't topped I said
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Even if refusing the break below 4,260 yesterday, S&P 500 was positioning for a decline on reasonably good non-farm payrolls. Since the European morning, the clues have been slowly gettting stronger, and the macro expectations I announced, were getting fulfilled even before the data release.
As said, what's not to love about it – I'll cover more of the secotral and individual stocks impact within an upcoming extraordinary article that you can however expect to be a regular part of daily premium analytical articles as of next week – your upcoming feedback over email is more than welcome as I'm after all making it for you both traders and investors. With non-farm payrolls, always remember the market is myopically focused only on one figure, ignoring revisions.
Today's article is the final one totally open in full - inspired by Tuesday's announcement - and in the nearest days I'll announce what's new, see the text higher for teaser already.
Keep enjoying the lively Twitter feed via keeping my tab open at all times (notifications on aren't enough) – combine with subscribing to my Youtube channel, and of course Telegram that always delivers my extra intraday calls (head off to Twitter to talk to me there), but getting the key daily analytics right into your mailbox is the bedrock.
So, make sure you're signed up for the free newsletter and make use of both Twitter and Telegram - benefit and find out why I'm the most blocked market analyst and trader on Twitter.
Let's move right into the charts (all courtesy of www.stockcharts.com) – today's full scale article contains 3 of them.
S&P 500 and Nasdaq Outlook
First 4,268, then 4,246 must be broken – first is major, second is a minor support. I'm not bringing up upside targets, and am instead using them to lock in open gains from the fine short that's still on. Sectorally, I'm looking for most to end up in the red, and for the Magnificent 7 hiding place, to become very strained indeed as well. It's again about buyers overpowering buy the dipper, going eventually to 4,225 – please review this real time Telegram commentary.
Gold, Silver and Miners
Expect more backing and filling within this bottom searching – neither big breaks lower or higher would stick today, regardless of copper being (and bound to be) a bit more positive than precious metals.
Crude oil made it south to my target, and again really fast. Similarly to gold, today is a bobbing around the $82.50 bottom day – one where bears will be pushing prices south of $82.50 rather than buyers successfully countering.
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!