S&P 500 was pulled lower overnight on poor Apple Inc (NASDAQ:AAPL), Amazon.com, Inc. (NASDAQ:AMZN) guidance even though current earnings didn‘t disappoint much – odds were any S&P 500 setback would be bought.
The premarket downswing brought stocks once again almost to the initial low point (just four points above the waiting buy order) only to see them recover close to unchanged. Forward guidance was shaken off – the effect upon earnings has indeed to wait till early 2023.
Q3 2022 hedge fund letters, conferences and more
Find A Qualified Financial Advisor
Finding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
If you're ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Market breadth has been improving, cyclicals and smallcaps are leading, which is consistent with my thesis that the U.S. is still best placed to weather the storm. The Q4 rally can proceed, core PCE isn‘t to rattle stocks, and I‘m dealing with namely precious metals and crude oil perspectives (more sensitive right now to Fed tightening prospects) in the chart section.
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 – today long) over email are the bedrock, so make sure you‘re signed up for the free newsletter and that you have Twitter notifications turned on so as not to miss any tweets or replies intraday.
Let‘s move right into the charts (all courtesy of www.stockcharts.com) – today‘s full scale article features good 4 ones.
Gold, Silver and Miners
Precious metals are still struggling even when dollar and yields retreat, knowing full well the Fed didn‘t back off – their time hasn‘t yet come. Silver can be counted on to move together with copper higher, but low stockpiles aren‘t yet biting enough. Just some more focus on inflation and not on inflation fighting, is required.
Crude Oil
Crude oil is being led by oil stocks, and WTIC can think about taking at least on $95 before the year is over.
Thank you for having read today‘s free analysis, which is a small part of the premium Monica's Trading Signals covering all the markets you're used to (stocks, bonds, gold, silver, oil, copper, cryptos), and of the premium Monica's Stock Signals presenting stocks and bonds only.
Both publications feature real-time trade calls and intraday updates. While at my homesite, you can subscribe to the free Monica‘s Insider Club for instant publishing notifications and other content useful for making your own trade moves on top of my extra Twitter feed tips. Thanks for subscribing & all your support that makes this great ride possible!
Thank you,
Monica Kingsley
Stock Trading Signals
Gold Trading Signals
Oil Trading Signals
Copper Trading Signals
Bitcoin Trading Signals
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.
