Turnaround Tuesday

S&P 500 was slated to rise either yesterday or today, as the discussed barrage of tightening and worsening real economy news drove asset prices inordinately lower on Friday too. Monday‘s feeble upswing wasn‘t restored after the open, and steady deterioration breaking through 3,850 opened the gates to 3,815 and potentially 3,780s then. Japanese jitters didn‘t help.

Today‘s picture is shaping up brighter even as stocks languish close to the unchanged mark. The European session has gone well. The ingredients for an upside surprise driven by unyielding crude oil, and sharply rebounding silver (followed a bit too tamely by copper) while gold is looking fine on a daily basis, bode well for stocks today and later this week (chart courtesy of www.stockcharts.com). If you want to play this short-term rebound, make sure you don‘t overstay the welcome, and lock in open profits via frequently updated trailing stop-losses.

Keep in mind the bigger picture till the year's end. Very much looking forward to returning to the usual frequency, scope, and presence as of Jan 02, 2023! Thank you for your patience, and have a blessed day ahead!

S&P 500 and Nasdaq

Keep enjoying the lively Twitter feed serving you all already in, which comes on top of getting the key daily analytics right into your mailbox. Plenty gets addressed there, but the analyses (whether short or long format, depending on market action) over email are the bedrock.
So, make sure you‘re signed up for the free newsletter and that you have my Twitter profile open with notifications on so as not to miss a thing, and to benefit from extra intraday calls.

More By This Author:

Sense Of Reality
How About A Bounce?
Tough Inflation Stance Still

Subscriber to Monica‘s Insider Club for trade calls and intraday updates. more

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.