← Go back Aug 08, 2023
S&P 500 reversed mid session, but it would be premature to call for the end of the – odds are that following today‘s rebound, which I saw as likely to as easy gains from rotation into beaten down sectors are made, and those won‘t be as generous today. For now, stocks will try to position optimisticallty for low CPI (below 3.3% or better yet below 3.2%), and the degree to which they would be able to peek above 4,535 would provide a hint as much as real assets, yields and the dollar. I‘m looking for modest traces of optimism that would be reversed tomorrow as CPI comes hotter than expected, catching markets off guarf – and boosting Fed raising bets correspondingly. More stock market sectoral and other analysis can be found in the chart section. Keep enjoying the lively via keeping my tab open at all times (notifications on aren’t enough) – combine with subscribing to my , and of course that (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 both Twitter and Telegram – benefit and find out why . Let‘s move right into the charts (all courtesy of ) – today‘s full scale article contains 3 of them. is still grinding lower, and may reach a good few bucks below yesterday‘s lows while waiting for CPI – all that‘s needed is a bit rising yields again, which is e.g. on 10y doable (above 4.10% again). are to face greater pressure than gold before the announcement while oil gets least challenged even in the aftermath. Energy is making a comeback, and natgas is also likely to extend gains – good seasonality is here. Crude oil didn‘t proceed to bulding a bull flag – does it seek to make a running correction where prices only temporarily retreat? Volume behind buyers following every decline, is suggesting that – but I would still look for a quick and relatively shallow pullback into tomorrow‘s CPI – then the upswing can continue as the tightening dust is likeliest to settle down here first. Thank you for having read today‘s free analysis, which is a small part of covering all the markets you’re used to (stocks, bonds, gold, silver, miners, oil, copper, cryptos), and of the daily premium presenting stocks and bonds only. Both publications feature real-time trade calls and intraday updates. While at my site, you can subscribe to the for instant publishing notifications and other content useful for making your own trade moves. Turn notifications on, and have my (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,
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