Shaking Off Weak Hands Friday
(Investorideas.com Newswire) S&P 500 duly surged on the inflation data, only to pull back almost all the way to the daily lows – yet I had been clear to clients about strongly bullish session and close to come. It did, and there was plenty to profit on as market breadth improved, building on timid Thursday‘s sectoral picture.
We had a great week, starting off with Monday‘s upswing call, and then shorts worked fine till Friday‘s data came – it has to be respected that not a full FOMC lows retest happened Medium-term trend was up, and the only point of contention was whether we get some sort of hot inflation momentary scare driving stocks lower so as to buy with an even better risk-reward ratio, or not.
It‘s though the job market (job creation) data that‘s harder to get right (euphemistically said) – the inflation data have a better record coming in just as expected lately (unlike NFPs). As there was no surprise, stocks could react with relief.
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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.