S&P 500 Retreats From A Vulnerable Level – Winds Of Change

view original post
(MENAFN– ValueWalk)
/ Pixabay

Making a fine run, retreated from a , but the totally since. Still, this tough 3,848 – 3,855 resistance held, the breakout was rejected, and another attempt has to wait for the CPI aftermath.

One good argument for a is the likely (dead cat) bounce in the dollar as the hasn’t played out yet after yet another day deep in the red, which would coincide with a slight move higher in yields exerting pressure namely on tech. In short, stock bulls would be on the defensive today, and unlikely to make solid and lasting progress.

Get The Full Henry Singleton Series in PDF

Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues

Black Bear Value Fund October 2022 Update

Black Bear Value Fund update for the month ended October 31, 2022. Q3 2022 hedge fund letters, conferences and more Dear Partners and Friends, Black Bear Value Fund (the“Fund”) returned +9.5%, net, in October and +10.3% for 2022. The HFRI returned +4.3% in . . . SORRY! This content is exclusively for paying members.

Just as I have written , 3,815 has to hold as support while already 3,845 would be biting today should the buyers make it that far in the first place, and:

(…) 3,848 – 3,855 represents solid resistance that can be reasonably overcome only on a sharp risk-on turn in bonds … – still, the medium-term trend is up, and it’s only a matter of time (more likely facilitated by confirming the notion of inflation peak being in, than midterms) before this level gets broken to the upside.

Note that stocks are unable to get much support from retreating oil prices (WTIC moved from $93 to $88), and natgas is below $6. Even the highly encouraging precious metals run on increasing volume is undergoing a (healthy, must be stated, healthy) correction today, but the are blowing, with especially silver being a .

Copper continues confirming the breakout attempt from the monthslong consolidation with decreasing sensitivity to the . And here we are, late in the tightening cycle, with CPI tomorrow likely to feed into Dec 50bp angle, helping crude oil to return above $90 and USD remaining on the defensive though not as badly as cryptos where the dust isn’t settled yet.

Keep enjoying the lively serving you all already in, which comes on top of getting the key daily analytics right into your mailbox. Plenty gets addressed there, 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 Twitter notifications turned on so as not to miss any tweets or replies intraday.

Thank you for having read today’s free analysis, which is a small part of the premium covering all the markets you’re used to (stocks, bonds, gold, silver, oil, copper, cryptos), and of the premium presenting stocks and bonds only. Both publications feature real-time trade calls and intraday updates.

While at my homesite, you can subscribe to the free for instant publishing notifications and other content useful for making your own trade moves on top of my . Thanks for subscribing & all your support that makes this great ride possible!

Thank you,

Monica Kingsley

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.


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.