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Corrective Week

 

March 6, 2024 (Investorideas.com Newswire) Such was my premium S&P 500 call made in yesterday's analysis, counting on a catalyst this week to get the ball rolling to the downside I don't see all pieces of the puzzle falling in the soft landing way - conditions are ripe for taking equities out of that rising channel they had been in all this year and quite a few weeks before.. And this concerns Bitcoin with its miners' plays that wouldn't maintain the steep ascent since end of Feb either.

It might very well be Powell's testimony and central banking in general coupled with still hot job market as I look for JOLTS and establishment non-farm payrolls not to disappoint that would dial back even the now baseline Jun rate cut odds, or would just rock the boat sufficiently before manufacturing activity revival coupled with still expansionary services PMI ushers in thext phase of the stock market upleg.

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 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, featuring S&P 500, precious metals and oil.

Tired of seeing those red boxes instead of way more valuable information? Try the premium services based on what and how you trade.

S&P 500 and Nasdaq


S&P 500 didn't go up premarket, and tech led it lower. Relative resilience in KRE and XBI wasn't enough to save even the Russell 2000, and odds are smallcaps would catch up to the downside just when the next no landing or recessionary flavored data hit or central bank pronouncements hit. And Powell isn't interested in asset price inflation as that makes inflation fight tougher - this is the angle I am looking for him to play in the testimony.

Gold, Silver and Miners


After a steep run, gold with silver is in for a brief pullback - and it can very much possibly happen today on rate cut odds readjustments aka not dovish, data dependent Powell. Yields have retreated too far, too fast - and the tide is ready to turn also in bonds.

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
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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