Tuesday, 02 January 2024 12:17 GMT

Stairs Up, Elevator Down


(MENAFN- Investor Ideas) (Investorideas Newswire) Without serious bid, S&P 500 flushed Friday after great AVGO earnings (that were summarily dumped) – when it could have done so the day before following less than stellar ORCL earnings after Wednesday's close.

The first serious intraday rally didn't take ES into at 5,860s if not 5,870 – bulls didn't have daily initiative. Justified? Was bond market and volatility on fire? Well, USD is duly weakening on rate cutting and those $40bn a month, and rising yields reflect decreasing attractivity of Treasuries, which is summing up an environment where foreign stocks do better than US equities.

Is the bullish case lost, and Santa Claus rally early in the week cancelled (even if BTC doesn't rally and is still in that troubled bearish wedge / flag pattern)? I was adamant days ago that the initiative moved over from Nasdaq into financials, cyclicals (it's still industrials over defensives), and into Russell 2000 – so much recession fears that when have you last seen, make consumer stocks and retailers rally (ANF Friday is a result of management shakeup rather that industry development to spread like wildfire). Pick yours stocks and sectors as tech headwinds mean environment getting defensive.

Likewise I was clear about us getting differentiation in Mag 7 stocks, where the reassessed AI trade is to pick fresh winners and losers (talked with clients daily), making just not hyperscalers as a group rise. Anyway, Trading / Stock Signals clients avoided that dump Friday, seeing long gains protected – I'll offer today a few premium charts, be they from the stock market or precious metals arena so that you know what you're missing if not a client...

Keep enjoying thelively Twitter feed with my tab open at all times (notifications on aren't enough) - combine with subscribing to extras on mydaily Youtube channel (turn notifications on) and of courseTelegram thatalways 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 Twitter, Telegram and Youtube - benefit and find out whyI'm for years the most blocked market analyst and trader on Twitter.

Let's move right into the charts (all courtesy of ) - today's full scale article contains 4 more of them, with commentaries.

Tired of seeing those red boxes instead of way more valuable information? Trythe premium services based on what and how you trade, with my 1:1 support - great community where clients come always first.

Thank you for having read today's free analysis, which is a small part of my site's daily premiumMonica'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
Go beyond the freeMonica's Insider Club serving instant publishing notifications and other content useful for making your own trade moves.
Turn notifications on, and have myTwitter 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!

Thank you,

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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