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SPY Bucking Yields


August 22, 2023 ( Newswire) Stocks went up in spite of both 10y yield beating 4.33% prior top, and also 3m edging higher to 5.57% - tech, discretionaries and communications couldn't care less. But it was far from an easy day as the sellers held the upper hand half of the regular session - environment more suited to quick Intraday Signals moves just as much as today's fine morning of at least two dozen ES pts captured.

Stocks simply overpowered yesterday's VIX sticking out as a sorrow thumb, and decided - with the odds being that would stretch to financials directly today as well - to ignore the latest batch of downgrades. Citing tough operating conditions, sure I get that, but the wise banks are unloading exposure to high yields if they hadn't done so to a good degree already - then, there is more from commercial real estate and other collateral with rising JGB yields waiting in the wings to bite. But not today, for all the pre Jackson Hole hammering, not today, no credit event on the nearest horizon.

Keep enjoying the lively Twitter feed via keeping my tab open at all times (notifications on aren't enough) - combine with subscribing to my Youtube channel, and of course 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 - today's full scale article contains 3 of them.

Gold, Silver and Miners

With those yesterday and last week given supports holding even if gold undershot it by $15, the tide is slowly turning in precious metals. Especially miners are hinting this isn't the time of a raging bull upleg yet, but rather of basing with a bullish bias.

Crude Oil

Crude oil isn't yet returning to rosy upswing days by any means - I'm rather looking for a setback first. It's an open question whether $80 holds, or $78.50 gets thoroughly tested. Given the quicksilverish WTIC character, anything in between is possible.

Likewise copper is showing too low volume on the upswing, and may go for low $3.70s again.

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
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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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