Signs Of 2024 SPY Topping Out

(MENAFN- Investor Ideas) S&P 500 shook off weak Empire State manufacturing, and correctly focused on surging services PMI instead of marginally down manufacturing PMI. But then, the bond market and the dollar made a correct move that I hinted at in the weekend precious metals video while breadth and concentration question marks over SP& 500 remained - nevermind, the setup was good for a fine intraday bullish ride centering on Nasdaq, the strongest index of the three of course.

Premarket, S&P 500 bulls gave up all the gains, so how can the three leading sectors - XLC and XLY being the other two as discussed in depth in yesterday's video - keep the S&P 500 up in the run up to (and aftermath of?) FOMC tomorrow...

Have a look at these charts for clues, way more commentary follows in the premium section for clients. I'll of course prepare another timely video ahead of FOMC - so do join my lively Youtube channel with notifications turned on - thanks for liking and commenting, it helps greatly!

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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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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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