My SPX Support - Now What

(MENAFN- Investor Ideas) S&P 500 held up till a bit hotter than expected PPI came, setting the daily tone in twists and turns, yet I could gain intraday for clients on the short side early after the opening bell. Look up my Nov 12 article with the below S&P 500 intraday chart (featuring it below, alongside today's other relevant ones), and see how prices worked their way into my final support earlier today (in wait mode currently). I simply didn't trust yesterday's lackluster session, and called it out publicly .

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Let's mve right into the charts (all courtesy of ) - today's full scale article contains 5 more of them, with commentaries.

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Gold, Silver and Miners

Whether we get a 1-2 days reprieve, precious metals look set to go one declining a bit more below yesterday's lows - all that's needed is a fresh push higher in USD and yields, which could take perhaps some 3 trading days to develop. Copper though has the power to inspire silver to at least keep its decline in check.

Crude Oil

Very weak upswing yesterday, but oil looks better positioned to move up today than precious metals - if I were forced at gunpoint to choose one, and passing on wasn't an option.

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Monica Kingsley
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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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