S&P 500 stabilized, but in an unconvincing way – the market breadth and sectoral view was wholy unappealing to me. Expecting risk-off rather than risk-on seems more appropriate here.
While the recent Fed liquidity moves aren‘t comparable to TARP (in the market reaction following the program announcement, thankfully for us), it‘s still true that I‘m looking for the unappealing fundamentals raising the head increasingly more, to take over (from E to P/E and beyond as you know from reading my work faithfully).
Q4 2022 hedge fund letters, conferences and more
Remember that historically 3rd Presidential year marked an important top, which I covered in one of the extensive Jan analysis.
The sellers even in the short run are likely to overpower the buy the dippers / no landing / all is well believers. If you‘re looking for sectoral shorting candidates for the longer term, here they are. The incoming unemployment claims and Philly Fed business index underline the economic setup that‘s going to get more acute, and over time result in no doubts about a recession in Q3 2023.
Keep enjoying the lively Twitter feed serving you all already in, which comes on top of getting the key daily analytics right into your mailbox. Plenty gets addressed there (or on Telegram if you prefer), but the analyses (whether short or long format, depending on market action) over email are the bedrock.
So, make sure you‘re signed up for the free newsletter and that you have my Twitter profile open with notifications on so as not to miss a thing, and to benefit from extra intraday calls.
Let‘s move right into the charts (all courtesy of www.stockcharts.com).
S&P 500 and Nasdaq Outlook
3,915 remains the “point of control”, but I‘m looking for the bears to keep price action today in the slowly increasing distance to this key figure. 3,945 won‘t be approached again later today, and 3,890 break would be the key bearish objective (not way too hard).
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.
While at my site, you can subscribe to the free Monica‘s Insider Club for instant publishing notifications and other content useful for making your own trade moves.
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!
Stock Trading Signals
Gold Trading Signals
Oil Trading Signals
Copper Trading Signals
Bitcoin Trading Signals
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.