Wednesday, July 24, 2024 9:08 AM EDT
S&P 500 had visible trouble extending Monday‘s gain far, and no rally into key earnings served as warning. The relief rally following very weak opex Friday, seems to have run its course – and downside risks are reappearning again, meaningfully. GOOG earnings were welcome on the financial side, but then fatigue over AI expenses contribution to the bottom line set in – and in TSLA case, the disappointment over financials was enough. TXN would be the first to recover from the less than deserved decline – and so will NVDA following the opening bell.
But in spite of the Russell 2000 upswing and yields with the dollar moving down from here soon, the S&P 500 bear flag approximating pattern on the daily, reinforces the warning of what‘s ahead should today‘s session turn out weak. Fnancials, discretionaries and general market breadth speak clearly when merely yesterday‘s session is taken into account.
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![](https://monicakingsley.co/wp-content/uploads/2024/07/STS-2-9.png)
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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.
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