SPY Buyers, Still Beware
October 3, 2023 (Investorideas.com Newswire) S&P 500 shutdown avoidance news was sold into, and as I tweeted real time, stocks were about selling into headfakes yesterday. Not only my 4,315, but also 4,307 and 4,298 supports were tested. Yet another late day squeeze has been and is being sold into - and today's outlook remains the same as yesterday's, for yields and USD direction haven't really changed (still nice enough though to make a good intraday move for clients).
Those counting on JOLTS would be ultimately disappointed - combined with rated, USD and financial conditions, these have allowed me to make bearish precious metals calls for premium clients that resulted in a smooth $100 move down from the $1,940s all the way here. Another important update on real assets awaits in today's analytical section.
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.
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Let's move right into the charts (all courtesy of www.stockcharts.com) - today's full scale article contains 3 of them.
S&P 500 and Nasdaq Outlook
4,330 - 4,340 aren't on the table unless JOLTS convince that the Fed must ease (it won't), therefore I'm rather looking at gradual selling resumption as indicated by poor market breadth, sectoral dynamics and HYG showing. 4,260 would be a pleasant surprise - and can be reached if the real economy proves still relatively resilient.
Thank you,
Monica Kingsley
Stock Trading Signals
Gold Trading Signals
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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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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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