S&P 500 was driven lower by a very quick tech reversal that took communications with discritionaries along. That utilities upswing wasn‘t a good sign, and the divergence to staples and financials was stark. No matter how well formerly lagging sectors did, first the low 4,280s and then 4,271 gave.
More overnight downside followed, yet when I‘d see communications with discretionaries starting to hold up, that would be as good an omen of relenting Fed as the rising unemployment claims bets indicate.
Let‘s forget now hard macro data of declining same store sales, rising credit card balances, tightening lending standards wtih fresh Treasuries issuance – and keep focused on still very, very expansive fiscal policy, stock market greed and VIX complacency.
Keep enjoying the lively Twitter feed via keeping my tab open at all times (notifications on aren’t enough) – combine with Telegram that always delivers my extra intraday calls (head off to Twitter to talk to me there), but getting the key daily analytics right into your mailbox is the bedrock.
So, make sure you‘re signed up for the free newsletter and make use of both Twitter and Telegram – benefit and find out why I’m the most blocked market analyst and trader on Twitter.
Let‘s move right into the charts (all courtesy of www.stockcharts.com) – today‘s full scale article contains 5 of them.
The shape of rotations shows that mostly Big Tech suffered yesterday, while Russell 2000 and RSP improvements give some mileage to the argument that poor breadth would catch up and even out. Not so fast, but the case for cautious optimism returning, is here.
Credit Markets
As bad HYG selling was, it could have been worse, on higher volume. Still looking for a risk-off day posture in bonds, but it‘ll start improving – the bets on Jun pause are irresistible.
Thank you for having read today‘s free analysis, which is a small part of my site‘s daily premium Monica’s Trading Signals covering all the markets you’re used to (stocks, bonds, gold, silver, miners, oil, copper, cryptos), and of the daily premium Monica’s Stock Signals presenting stocks and bonds only. Both publications feature real-time trade calls and intraday updates.
While at my site, you can subscribe to the free Monica‘s Insider Club for instant publishing notifications and other content useful for making your own trade moves.
Turn notifications on, and have my Twitter profile (tweets only) opened in a fresh tab so as not to miss a thing – such as extra intraday opportunities. Thanks for 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.
