S&P 500 bears were winning till services PMI, which turned equally much the Nasdaq around too, delivered very risk-on sectoral showing. ADP employment change was all right, I looked for a strong beat, but expected the same from services PMI given the earlier successful call for manufacturing PMI to overcome expectations. So, only our swing trading longs were rewarded while I managed to score a Wed draw (B/E total) in the intraday channel.
Gold did break above my $2,300 and even if it consolidates today, that‘s not the end of the ride. Its appreciation reflects virtual certainty of most if not all major central banks going the rate cutting route while inflation remains closer to 3% than 2% in the trough, and it can be considered as the select route of devaluation that happens against real asset(s) not other currencies, but against gold. Silver has been beautifully catching up in percentage appreciation, mimicking my bullish copper weekend and earlier calls.
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 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.
Tired of seeing those red boxes instead of way more valuable information? Try the premium services based on what and how you trade.
Gold, Silver and Miners
What I wrote yesterdaty of rising odds of a consolidation, applies today more so, and instead of the projected slower pace of appreciation, the buyers will get tested. But it won‘t mark a top, and silver with copper would do better than gold.
Crude Oil
Crude oil saw an upswing rejection, but the resulting follow through wouldn‘t take it far from $85 – the upswing hasn‘t yet ended, but those waiting to buy the dip at $85, will soon get an aopportunity. This is the fist shallow support only, and would end up holding if prices don‘t go below $85 before the EST noon.
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. Forget not the lively intraday Telegram channels for indices, stocks, gold and oil - here is how you can join any advantageous combination of these.
Go beyond the free Monica‘s Insider Club serving 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,
