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War Drums and Risk-Off


October 20, 2023 ( Newswire) S&P 500 couldn't keep the upswing to 4,365 during Powell's decent speech, and broke through 4,330 thereafter - not as a function of a stunning hawkish surprise (rising rates can be understood as reflection of still strong economy, sticky inflation and not tanking Q3 earnings), but of rising Mideast tensions - precisely said, of broadening the conflict.

While Israel needed more time to secure its northern border and West Bank, US Navy in Red sea intercepting missiles or US bases in Syria and Iraq under attack, that's a different cup of tea beyond Lebanon. Lack of a dead cat bounce coupled with poor DAX and strong gold and oil showing speaks clearly to rips being sold - and to be sold as part of weekend positioning.

Nasdaq is acting as a safe haven, but can't rally either, Russell 2000 saw sharp rejection of Tuesday's upswing, and yields (10y at 5%) are highlighting the deteriorating financial conditions. Stock market bottom (on these geopoliticals overpowering technicals with macro) before the advance to close the year on a bright note, hasn't yet been formed.

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 5 of them.

Stocks and Sectors

NFLX and XLC are now candidates into whose strength to sell, rather than chase higher. The short-term downside has way more potential than the upside.

Financials aren't yet a buy, and yesterday's upswing failure confirms this prospect as regards both big and regional banks. Financials are also to underperform.

Gold, Silver and Miners

Gold and silver are to consolidate the high ground, with still bullish undertones. I take the last two daily candles' volume as one of accumulation - the time for a (significant) pullback isn't yet here. Unlike the days before, oil is today better positioned for gains than gold.

Crude Oil

Crude oil is now ready for a bounce, with $86 - $87 serving as support. The flight into energy as safe haven (instead of TLT, charts are clear), is obvious, and about to lift the commodity somewhat more while copper is to remaim barely above the $3.55 support.

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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