S&P 500 Rebound To Continue

Published on

S&P 500 bears made good progress initially as yesterday‘s data confirmed the hawkish Fed takeaway – yet my bond targets wenen‘t met, indicating that the field is now open to the bulls, which allowed me to call for ES going up all the way to the Sunday futures open in the low 4,240s.

Following today‘s non-farm payrolls, which I though expect to be revised lower in the upcoming months just as the prior months were, I‘m looking for Fed Jun 25 hike odds going up, and the talk about raising only in Jul to gradually die down.

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 3 of them.

S&P 500 and Nasdaq Outlook

S&P 500

Solid volume, with daily animal spirits returning. What was beaten down to the proximity of supports (IWM, XLI, XRT, XLB), stabilized via some respectable upswings within respective ranges, and the ES rally got a distinctly less defensive posture than was the case on Wednesday.

What was driving the upswing and doing well before (AI connected tech, communications and consumer discretionaries), continued its bullish job; The key confirmation of a turn higher to continue, came from financials.

I‘m also looking for stocks to weather the stronger than expected (than even I expected – major banks were way more guarded) non-farm payrolls finely – and the instinctive dip reflecting better odds of Jun 25bp hike, was already bought really fast. Intraday consolidation followed by more upside is the theme of today.

4,247 with 4,236 are nearest supports, but the march towards 4,283 (more than Friday‘s job) would rightfully get more attention once the 4,247 resistance turning support is gone.

In case you took me up on the daily bullish calls, and noted the hedges idea from Sunday‘s extensive article, you benefited. And even more so in case you‘re combining the full scope of services with the Twitter feed.

market breadth

The market breadth for the whole S&P 500 and Nasdaq improved just enough yesterday to carry both sectors higher – as they consolidate sharp gains within their respective rotations. No warning sign of a crash today or Monday really.

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


[email protected]

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.