
March 14, 2023 (Investorideas.com Newswire) S&P 500 enjoyed a wild ride yesterday that subscribers did capitalize on intraday, and the key move was in the bond markets as these started requesting the Fed eases practically right away. Unsurprisingly, this helped propel precious metals (seismic change, fundamental catalyst with all the new liquidity) higher, and stocks joined with a fine intraday reversal. The 2y yield sharply plunged to 4% only in what amounts the fastest decline since Oct 1987, and we know what happened then . Even if such as outcome isn’t on the table now any time soon, I would add that it’s needless to say, the unjustifiably easy financial conditions have sharply tightened over the last couple of days…
Let’s talk CPI, the key event of today – my expectations turned out on the hotter side, and both the headline and core CPI came in (YoY) in line with expectations, which takes the spotlight off the Fed’s inflation fighting focus. Nonetheless, I’m looking for a relatively lean day ahead (futures are now roughly at 3,935) as the formidable 3,945 – 3,958 resistance zone looms (chart courtesy of www.stockcharts.com) and can’t be beaten unless HYG keeps and extends intraday gains, and crude oil (back towards $76) with copper ($4.08 at least) peek higher as well today. I’m not worried about precious metals here at all.
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Monica Kingsley
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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.
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