Climbing A Wall Of Worry

S&P 500 decisively closed the bearish gap I told you about on Sunday, in spite of a very lackluster European session. The US open though offered merely one good correction – too swift to take advantage of in swing trading, but fine enough to add to our +33 ES pts intraday gains delivered for you.

The gold and oil expectations turned out reasonably well too – the late-day gold upswing is being duly dialed back today, with oil being the one where I look for more resiliency than in gold or the much more challenged copper.

More real assets commentary including deep stock market one is presented in the chart section, and today I‘m opening individual stocks analytical part so as to invite more feedback. Thank you for the interest and warm reception of yesterday‘s tech and NFLX segment.

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

Sectors and Stocks

GOOG

Both ISINs of Alphabet (GOOG) are well positioned here, and I like META still too. Lower volume isn‘t an issue – relative resilience within the Magnificent 7 is promising. Support and direction expectations are given in the chart description.

PLTR

Palantir (PLTR) is leaving the long sideways consolidation, and the upside is greater here than the downside – both in terms of the nearest days and the nearest weeks. Precision targets with reasoning I gave in the caption – the volume is especially convincing.
 

Gold, Silver, and Miners

gold, silver and miners

Gold and silver are to see some selling pressure today on no greater and faster war escalation – for now, still benefiting from the retreat in yields I talked about as well Sunday would happen. What‘s new though, is dovish Fed remarks, which move the daily gold target some $5 higher, to the $1,865 – $1,870 range.


More By This Author:

Mideast Market Impact
Yields Haven‘t Topped I Said
How SPY Decline Resumes

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