Follow Through Time

April 20, 2023 (Investorideas.com Newswire) Bearish gap that S&P 500 buyers couldn't close, and worrying market breadth - such are the characteristics of going into the first and second key data release today. Just like the TSLA earnings highlight called, these paint a deterioration of consumer and business landscape while the Fed insists on being restrictive (inflation hasn't veritably retreated where it matters, and crude oil had appreciated over the past weeks, affecting headline inflation and consumer inflation expectations alike). All the recession ingredients are simply in place, for quite some time - hello, Q3 2023.

4,136 had been the optimistic but true "point of control", conquering which allows the bears to take initiative. What they couldn't achieve yesterday, they're making fine progress at today. 4,111 to 4,115 represents next major support the sellers have to, and will break through - on a good enough catalyst. I don't expect 4,178 to be jeopardized today or tomorrow in the least - the bears are in the driver's seat, and I told you to get ready twice (chart courtesy of www.stockcharts.com).

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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. 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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