S&P 500 – Welcome, Correction

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S&P 500 continued higher on 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 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.

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Q4 2022 hedge fund letters, conferences and more

 

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

Daily supports are the badly 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!

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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.

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