← Go back Sep 09, 2023
Today‘s core PCE is likely to dial back the unjustified easing , bringing 10y yield back to 4.25% roughly. Even though yields are to rise next year, first they would , and that would exert and help the dollar. Yesterday‘s stock market upswing was driven by tech, with the communications and discretionaries duo not exactly following through. Even though the defensives were down, market breadth moves remained unsatisfactory on a daily basis, so it would really take a nonchalant market reaction to core inflation data remaining stubborn regardless of job market starting to show cracks. I‘ll give you now the usual set of individual markets commentary, and move to Twitter for much live coverage and market moves ahead. 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. remain in the upswing mode, but won‘t have smooth sailing day ahead – stopping a few bucks from my target of $1,980, gold is likely in need of cooling off before taking on this key resistance again. Would it succeed? Given what I see ahead in yields, I‘m afraid not immediately, and pullback even to mid $1950s can occur after failed $1,980 breakout attempt. For those patient, this is mere noise as $2,050 – $2,100 would be approached later this year. Crude oil is likely to consolidate in the low $80s, and even if black gold is up today, the corrective move looks undone and at least $81 can get easily tested again. Copper isn‘t out of the woods, and as per the caption I‘m looking for consolidation (slight correction) first. With the return of inflation, commodities would do well – longer term view, but now yields are to bite 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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