S&P 500 daily bullish call worked better than expected, and the road from META to AMZN earnings was indeed free from bearish setbacks. Neither AMZN earnings aftermath did sink stocks, and the following call has also turned out true – the consolidation expected earlier in the European session and well before the core PCE data announcement materialized as well.

France's data on inflation and consumer strength though paint a worrying picture down the road, and that would force reappraisals of Fed tightening ultimately in the States too. My call for persistent and sticky (stickier than the central bank would be comfortable with) core inflation did also come to fruition, and for all the stock buybacks lifting up shares, would catch up with the stock market – and USD agrees.

I‘m totally happy that you‘ve been benefiting in these times, no matter what – thanks for all the client success stories you continuously tell me!

Keep enjoying the lively Twitter feed via keeping my tab open at all times (notifications on aren’t enough) – on top of getting the key daily analytics right into your mailbox. Combine with Telegram that never misses sending you notification whenever I tweet anything substantial (head off to Twitter to talk to me there), but the analyses over email are the bedrock.
So, make sure you‘re signed up for the free newsletter and make use of both Twitter and Telegram so as to benefit from sophisticated talk and extra intraday calls .

Let‘s move right into the charts (all courtesy of www.stockcharts.com).
 

Credit Markets

This isn‘t a risk-on turn to trust, and quality debt instruments are to keep doing better than junk corporate bonds over the coming weeks. Poor market breadth wouldn‘t lift stocks and sort itself out along the way – the tech behemoths would once again find themselves leading the charge when much of the troops refuse to advance. We‘re still away from that moment though.

More By This Author:

Back To Banking And Consumer
No Fear Recession
ISM Liquidity Bets