Bottoming Signs Or Not

(MENAFN- Investor Ideas) S&P 500 didn't decline below Friday's lows, and opening bell's selling was steeply reversed within one hourlycandle, making the posture neutral - just neutral as neither side is having success moving prices much this week (before NVDA earnings). Still, it was possible to read the intermarket, sectoral flows and deliver +20 ES pts intraday even though swing trading outlook hasn't changed. Doesn't it though look as part of a bottoming process, provided that certain additional condition(s) are met?

That's the question I answer in the premium part. We're having both the expected consolidation in yields kickin in, it's making the dollar pause its ascent, and that allows for China trades to move a little higher (all within their consolidation of the steep ascent during the golden week - these stocks in the current post-election environment must be considered as sideways, not yet ready to embark on a solid uptrend).

Let's examine VIX and yields as they stand now - keep paying attention to Bitcoin moves too.

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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

The short-term direction is up in precious metals for today - let's see how much more basing will be required, I think the bulls truly need more time to start running again, and once yields with dollar turn up, gold and silver will notice. Summed up, I don't trust the current upturn in precious metals to last in the way that yesterday's move alone would indicate.

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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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