Banks lifting SPY bulls
|S&P 500 was in the end overpowered by hot CPI I predicted, and broad cyclicals selloff resulted in not only 4,382 break, but 4,365 also. The spark had been the floor falling out from below of yields, taking 10y back above 4.70%. Today‘s key event are bank earnings $JPM, $WFC and $C, with $BLK as well – and I‘ve already made both the ES move I expect to play out for daily publication clients and intraday clients alike (and so did Ellin in our intraday channel).
As well the gold intraday reversal call made on my Telegram channel for Trading Signals subscribers, worked out well immediately, and today‘s oil upswing replay delivered exactly the same benefit to clients this morning.
As usual, I‘m bringing a bullish stock pick for the long run – one I had been talking positively already last year, and it didn‘t disappoint this volatile 2023 in the least – sign in to your accounts on my site for more details including real time SPY commentary with reasoning if you‘re relying on my mailings only. In other words, there is much more than these brief analytical intro mailings served daily.
Let‘s move right into the charts – today‘s full scale article contains 4 of them.
Sectors and stocks
Another bullish candidate to consider, certainly more alluring than JNJ. Very healthy uptrend, good enough company financials. The upswing is to keep grinding on, and Sep top is not the resistance to stop the advance.
Gold, Silver and Miners
Gold and silver are to see more upside today as well – as stated lately, the bullish turn is firmly in place, and yields gyrations coupled with upcoming Mideast escalation don‘t put brakes on the $1,840 and $21 rock bottom prices. Hot inflation in the pipeline (PPI) and also in the lagging indicator one (CPI) is again lifting up silver more relatively speaking – but you had been familiar for weeks with my call for sticky inflation, for inflation to return this autumn.
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