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Bidding Some Time

 

August 24, 2022 (Investorideas.com Newswire) S&P 500 didn't swing even temporarily higher yesterday, refusing to act on relatively bullish signs from bonds. No turnaround, Nasdaq was also flat - and the volume declined in both. Fresh sellers wanted, nowhere to be found. Well, commodities had a good day, driven by crude oil's sharp reversal on Muhammad bin Salman's words about potentially reducting output, which the paper markets promptly got. Acricultural stocks also started doing better - ADM, BG, DBA, and the like including CORN.

Yet, copper's sharp upswing was rejected at $3.73, as it the bulls were unwilling to run too far, too fast. Cryptos not following though entirely on the bullish cues - Ethereum short profits taken off the table - means that we're in for a relatively muted upswing (attempt) in stocks. Until the Jackson Hole uncertainty is removed, that is. Given that I look for VIX to remain in the 22.50 - 24 range today, it means a relatively narrow range in the S&P 500 ahead.

To feel the daily pulse, let's move right into the charts (all courtesy of www.stockcharts.com) - today's full scale article features good 6 ones.

Crude Oil


Crude oil is on a tear, and I look for it to be well bid. Given the run's confirmation by oil stocks, that says a lot about stock market prospects (bearish as oil is the shadow Fed funds rate).

Copper


Copper is starting to hesitate, and unless $3.74 is broken, has a lot of potential to correct recent strength. Other base metals appear to agree.

Bitcoin and Ethereum


Cryptos are still hesitating, and I am not looking for surprising moves either way today.

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. Thanks for subscribing & all your support that makes this endeavor possible!

Thank you,

Monica Kingsley
Stock Trading Signals
Gold Trading Signals
Oil Trading Signals
Copper Trading Signals
Bitcoin Trading Signals
www.monicakingsley.co
mk@monicakingsley.co

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.

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