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Inflation Ambush

 

August 31, 2023 (Investorideas.com Newswire) Today's core PCE is likely to dial back the unjustified easing Fed expectations, bringing 10y yield back to 4.25% roughly. Even though yields are to rise next year, first they would retreat in a path as described here, and that would exert pressure on real assets and help the dollar. Yesterday's stock market upswing was driven by tech, with the communications and discretionaries duo not exactly following through. Even though the defensives were down, market breadth moves remained unsatisfactory on a daily basis, so it would really take a nonchalant market reaction to core inflation data remaining stubborn regardless of job market starting to show cracks.

I'll give you now the usual set of individual markets commentary, and move to Twitter for much live coverage and market moves ahead.

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 www.stockcharts.com) - today's full scale article contains 3 of them.

Gold, Silver and Miners


Precious metals remain in the upswing mode, but won't have smooth sailing day ahead - stopping a few bucks from my target of $1,980, gold is likely in need of cooling off before taking on this key resistance again. Would it succeed? Given what I see ahead in yields, I'm afraid not immediately, and pullback even to mid $1950s can occur after failed $1,980 breakout attempt. For those patient, this is mere noise as $2,050 - $2,100 would be approached later this year.

Crude oil is likely to consolidate in the low $80s, and even if black gold is up today, the corrective move looks undone and at least $81 can get easily tested again.

Copper


Copper isn't out of the woods, and as per the caption I'm looking for consolidation (slight correction) first. With the return of inflation, commodities would do well - longer term view, but now yields are to bite first.

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.

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.

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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
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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