S&P 500 came knocking again on low 6,060s, and succeeded – I had an open mind, calling for the best bearish times as over with the China countermeasures announcement – such were the gains for clients the day before, and what about yesterday? The ride towards the resistance was fine in intraday tech terms as the pre-ARM earnings atmosphere allowed for solid daily outperformance. Trading Signals clients benefited greatly on gold resilience and as well on the little noticed oil short call reaching exactly my ultimate daily target of $71.
Where do we go today, is there a pullback or even rug pull coming? That‘s what covers today‘s fast 5min video talking tech outperformance of ES prospects, yields path and S&P 500 breadth lessons among much else.
AMD had been my bearish pick for earnings, but today it‘ll hitch a ride on NVDA coattails. GOOGL tanked as it missed on cloud, META is the (open source) winner, AMZN I‘m leaning a bit bearish (AWS not making its numbers all too greatly). NVDA holding 200-day moving average, is that enough? AVGO stepped into the void, and is doing fine still, I would be cautious TSLA (short-term outlook switched bearish as opposed to the boring bullish financials – this is just a small example of what kind of guidance clients are getting (ARM is closer to being my cup of tea really!). Check Russell 2000 performance, too.
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.
