← Go back Jul 07, 2023
S&P 500 met its after a while, with the view changing to . Just as I – the path ahead, probably by end of next week, will mark the onset of topping process giving way to lengthy decline over the summer and into September bottom. In this important video (review it as well for clues enabling me to forecast ES price recovery during yesterday‘s regular session that brought ), I talk the importance of 4,500 – 4,510s area as a key resistance and potential top. Simply put, yesterday, and neither did the . I‘m also on the record as saying that , which coupled with the tremors caused by FOMC minutes late yesterday, and “China reopening frontloading” causing jitters in Asia markets, is to add to the cautious tone of today‘s trading. I talk this dynamic with respect to crude oil in today‘s chart rich analysis, and of course stay tuned for another thorough update later today on . 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 5 of them. While wouldn‘t give up easily, precious metals are now on the defensive thanks to both not sharply deteriorating economic data, and Fed willingness to remain restrictive. Big picture, gold and silver continue basing. Crude oil is to keep the $71 handle for a while, and still remains sideways. No matter how well OPEC+ wants to defend prices, the imports level isn‘t working to propel prices up into the driving season – lean weeks are ahead in black gold. Copper is still above $3.72, and also on the defensive. As yesterday‘s materials (XLB) performance showed, and the way I taled disinflation as bearish real assets factor lately, this isn‘t yet the time to be bullish commodities or precious metals. 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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