← Go back Sep 09, 2023
S&P 500 did that anticipated modest upswing yesterday, and in spite of wavering cyclicals followed by , the buyers regained control before the closing bell, stopping short of 4,492 Sep contract only to come back almost the full way – good enough still to . That means the 4,550s in Dec contract weren‘t reached, and today favors for tomorrow‘s inflation data. Likewise, I even if 10y yield rose merely to 4.29% – and that‘s been confirmed by today‘s price action, reflecting fear of more Fed hikes even if Sep is skipped, and Nov rate hike odds are a coin toss. That leaves of course oil best positioned for today, followed by copper, then silver. The macroeconomic as lukewarm, is still on. As I have written 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 3 of them. Gold isn‘t yet done declining, and sellers can more than think about taking on the $1,930 support. Silver is to be more resilient in such monetary policy guessing game. A tame inflation reading would of course send gold up, in yet another round of „Fed must be pivoting“ bets. Crude oil‘s shallow, running correction goes on, and will be likely to be resolved to the upside soon, Also, black gold would be most resilient to any inflation acceleration surprises. As said yesterday – until the recession arrives, downside won‘t be really there more so than the Aug correction. $84 is definitely a bridge too far at this moment, and narrow trading range with a bullish bias, is ahead for today. 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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