Thursday, April 18, 2024 9:54 AM EDT
S&P 500 attracted buy the dippers early in the US session, only for the larger factors at play to bring it back down – the reversal following 20y Treasury auction (as if 4.82% was anything to cheer, but the bond market provided a reprieve nonetheless) fizzled out before the day was over. The European bounce didn‘t reach any technically important levels before reversing, so I wonder whether a better shorting opportunity appears during the US session today (and by better I mean a high confidence one) – even one contradictory to hot Philly Fed manufacturing data.
Crude Oil
(Click on image to enlarge)

First tentative moves at bouncing, then undershoot of $81, is likely in the days ahead in oil, and oil stocks wouldn‘t be spared. Its upswings proved looking suspect and little more than short-term reactions to Mideast war drums.
More By This Author:
Stabilization AttemptsThe Great Turn CalledSea Of Red
Subscribe to Monica‘s Insider Club for trade calls and intraday updates.
more
Subscribe to Monica‘s Insider Club for trade calls and intraday updates. My Network
Disclaimer: All essays, research and information represent analyses and opinions of Monica Kingsley that are based on available and latest data. Despite careful research and best efforts, it may prove wrong and be subject to change with or without notice. Monica Kingsley does not guarantee the accuracy or thoroughness of the data or information reported. Her content serves educational purposes and should not be relied upon as advice or construed as providing recommendations of any kind. Futures, stocks and options are financial instruments not suitable for every investor. Please be advised that you invest at your own risk. Monica Kingsley is not a Registered Securities Advisor. By reading her writings, you agree that she will not be held responsible or liable for any decisions you make. Investing, trading and speculating in financial markets may involve high risk of loss. Monica Kingsley may have a short or long position in any securities, including those mentioned in her writings, and may make additional purchases and/or sales of those securities without notice.
less
How did you like this article? Let us know so we can better customize your reading experience.