S&P 500 was slated to rise either during yesterday, or today, as the discussed barrage of tightening and worsening real economy news drove asset prices inordinately lower on Friday too. Monday‘s feeble upswing wasn‘t restored after the open, and steady deterioration breaking through 3,850 opened the gates to 3,815 and potentially 3,780s then. Japanese jitters didn‘t help.
Q3 2022 hedge fund letters, conferences and more
Today‘s picture is shaping up brighter even as stocks languish close to the unchanged mark. The European session has gone well.
The ingredients for an upside surprise driven by unyielding crude oil, and sharply rebounding silver (followed a bit too tamely by copper) while gold is looking fine on a daily basis, bode well for stocks today and later this week (chart courtesy of www.stockcharts.com). If you want to play this short-term rebound, make sure you don‘t overstay the welcome, and lock in open profits via frequently updated trailing stop-losses.
Keep in mind the bigger picture till the year end. Very much looking forward for returning to the usual frequency, scope and presence as of Jan 02, 2023! Thank you for your patience, and have blessed days ahead!
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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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