Correction in SPX Leaders

Buying the S&P 500 dip right away wouldn‘t have worked as all the XLC, XLY and sure XLK too pessimism hasn‘t played out by then, but by the late session and following 4,560 support test, stocks got interesting as the beaten down sectors are to catch a little bid today. It‘s that TLT didn‘t resolutely decline without generating buying interest, and yields are likely to retreat somewhat today – and that would make for tech to pick up alongside real assets with USD pausing. It appears markets would look for an excuse (shaking off strong initial unemployment claims and weak Philly Fed manufacturing) to return to the narrative that Jul rate hike is the last one...

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 www.stockcharts.com) – today‘s full scale article contains 5 of them.

S&P 500 and Nasdaq Outlook

✕

4,560s were in the end briefly visited today – and odds are we return to 4,590s as XLF, XLI, XLE, XLB won‘t materially retreat while the beaten trio (XLK, XLC, XLY) improves. Low 4,560s visit would be a bad omen, but I‘m not looking for selling at the open to take ES there.

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!