Welcome, Correction

S&P 500 continued higher on the very good market breadth and with bond market support, but already yesterday I announced I was looking for a NFPs facilitated setback aka daily correction preceded by a relatively shallow premarket session as job creation, unemployment rate, participation rate and hours worked all showed that the job market remains tight, spurring fresh bets on hawkish Fed to the delight of dollar bulls.

Today‘s analysis will be brief as things have worked pretty fine – and you know I had been very busy this week on Twitter… I‘m so glad to hear how you‘ve been killing it in the markets! Let‘s keep charting our path!

S&P 500 and Nasdaq

Daily supports are the bad test 4,145 followed by 4,085, which the bears would like to see reached today – and I think they can get halfway there today. For next week (not meaning Monday to be clear), we have.4,225 on the upside as the most ambitious target that would provoke a battle to get overcome. Chart courtesy of www.stockcharts.com.

Hop on my Twitter feed and go through some more of the key events shaping up this week, announced as of Tue and today. High standards, transparency and quality of service rule!

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 (or on Telegram if you prefer), 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:

The Bonds Challenge
Hawkish Or Not
Wake Up Call

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