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When Going Gets Hard

July 7, 2023 ( Newswire) S&P 500 internal breadth deterioration signs didn’t lie, and the index took a dive – till the dip got of course bought. The sectoral view was though nothing to write home about.

Remember the key points made in yesterday’s extended video. Still, I looked for a reprieve in sentiment, leaning risk-on into non-farm payrolls. Markets seemed fearing a strong figure, yet the heavily loaded boat tilted the other way in the aftermath of not really finest NFPs.

Initial relief over the Fed maybe getting second thought about hiking (in July), is giving way to questioning the realities of why it wouldn’t hike (maybe perhaps even pivot, in market’s mind). Then, the gut level reaction to rally as liquidity won’t be getting that bad in the very short-term, is likely to win – especially in real assets as the same mechanic would take more effort to kick in in the S&P 500.

In favor of an extended introduction to today’s analysis, I’ll focus on individual charts, Twitter commentary, and of course another video to top off it off.

Have a great weekend in advance!

Keep enjoying the lively Twitter feed via keeping my tab open at all times (notifications on aren’t enough) – combine with subscribing to my Youtube channel, and of course Telegram that always delivers my extra intraday calls (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 I’m the most blocked market analyst and trader on Twitter.

Let’s move right into the charts (all courtesy of – today’s full scale article contains 4 of them.

S&P 500 and Nasdaq Outlook

4,460s are the nearest support turned resistance to reconquer, and a good battle seems at hand later today. In order to achieve that, 4,432 level can’t be broken or thoroughly tested, which opens the way to 4,415 last line of defence.

NYHL were indeed what I correctly trusted – the warning signs were there, and now it’s up to the sectors given in the preceding chart caption, to do their job as much as Russell 2000.

Thank you for having read today’s free analysis, which is a small part of my site’s daily premium Monica’s Trading Signals covering all the markets you’re used to (stocks, bonds, gold, silver, miners, oil, copper, cryptos), and of the daily premium Monica’s Stock Signals presenting stocks and bonds only. Both publications feature real-time trade calls and intraday updates.

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Thank you,

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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