S&P 500 wobbled just as during preceding NVDA earnings, offering nice long entry opportunity for intraday traders while not jeopardizing long swing profits of investors. Clients couldn't been happier – below, I'm bringing you yesterday's premium analysis incl. commentary predicting what we saw unfold (just imagine how much you would have benefited personally knowing these) – note how well the 5,307 support called held.
5,335 remains the daily "point of control", and odds are that even if pre-NVDA panic strikes that 5,307 would still hold. Connecting the dots of recent Druckenmiller statement and good showing by quite a few tech stocks (KLAC, AMAT to name only two), raises the odds of seeing the actual earnings received positively by the marketplace, and those overvaluation words by hedge funds able to move the markets, being a buying opportunity.
Today, we'll see more of the broadening S&P 500 rally, led by Nasdaq of course – and given the real asset troubles developing beyond oil, I don't expect materials and energy to spring anyhow fast back to life. Consumer discretionaries though offer nice bottoming view, and rotations are always there.
More details and timely calls / analytics follow below.
Keep enjoying the lively Twitter feed via keeping my tab open a
t 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.
Let's move right into the charts (all courtesy of www.stockcharts.com) – today's full scale article contains 3 more of them, with commentaries.
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
Precious metals bulls, per yesterday's live call, it's best to step aside for a while – the copper downswing isn't a bullish sign either. Miners will follow lower and base as well – yesterday's intraday attempt to hold the ground clearly failed. Inflation trades will take backseat to growth stocks as the upcoming CPI is likely to cheer up the rate cut enthusiasts within the Fed, as the below oil chart hints at.
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,
