Shaking SPY Tree
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Swing traders needn‘t worry, but I was really cautious in our intraday channel yesterday. First slowly, then suddenly the bid evaporated – but client gains were protected. As the best explanation of what happened – whenever the boat is tilting too much one way, and this bull run had been heavily extended for a while, considering how far stocks advanced since end of Oct – I‘m releasing today‘s premium S&P 500 chart that gives you my proper intermarket view from a very short term perspective, together with stock market expectations once we make it through the opening days of 2024.
Forget not about tomorrow‘s core PCE (let alone today‘s set of data where lower GDP is bullish risk taking) and the lower volumes making for greater volatility – such a hit rarely comes unaccompanied… This is how I summed it up in our intraday channel.
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.
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S&P 500 and Nasdaq Outlook
My 4,735 (let alone 4,715) support level hasn‘t been reached, and the heavy selling affected all sectors quite equally, with the exception of XLC that had been my sectoral pick to outperform S&P 500 (among the non interest rate sensitive plays) for quite a while.
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. Forget not the lively intraday Telegram channels for indices, stocks, gold and oil - here is how you can join any advantageous combination of these.
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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!
