S&P 500 did a brief intraday downswing yesterday – very fast erased. Bonds strong, market breadth further improving, FOMO almost kicking in – and then AAPL and AMZN earnings interpretation provided for a fresh upleg aftermarket. Stock prices are to stall somewhat next, but not to roll over into a new downtrend – not yet. There is time, and early next week isn‘t yet flashing even just amber. Likewise the rally in precious metals is to continue, with miners still ridiculously inexpensive. Crude oil preparing for a new upleg in the $98 area while copper isn‘t giving up just below $3.50 either. Cryptos are signalling a weak entry to today‘s regular session, that‘s all – Monday is going to be a relatively good day across the board should today not turn out peachy (it won‘t be rosy, but won‘t be a disaster either).
Today, I’m again releasing (this time very brief) analytical synopsis customarily available for premium subscribers.
Let‘s move right into the charts (all courtesy of www.stockcharts.com) – today‘s full scale article features good 6 ones.
S&P 500 and Nasdaq Outlook

S&P 500 is looking good – a bit of backing and filling next wouldn‘t hurt, and the medium-term uptrend remains intact. The reactions to latest earnings, guidance and Fed, had been optimistic, and I see no reason facilitating a sharp reversal early next week.
Credit Markets

HYG extended gains, quality debt instruments joined in, yet the risk-on turn is likely to get less pronounced today. It isn‘t over though, but bonds would facilitate a little consolidation in stocks next – one that didn‘t arrive yesterday, but appears knocking on the door timidly today.
Gold, Silver and Miners

Precious metals posture has significantly brightened up, and the months ahead are looking really good now. Inflation unpleasantly high, yields down, dollar barely up – this is a good constellation. Sensing a Fed pivot.