April 12, 2024 (Globalinvestorideas.com Newswire) S&P 500 couldn’t break below Wednesday’s CPI lows in spite of it being reasonable to expect hot PPI in light of prior hot 2024 PPIs. That sudden turn (CPI is lagging while PPI is leading inflation data) made it possible to capitalize on intraday opportunities only as S&P 500 delivered a swing whipsaw, yet with Nasdaq outperforming heavily (alongside communications and discretionaries), which tips the scales to go semiconductors, NVDA way (higher) in the days ahead.
S&P 500 is more cautious here, for now the heaviest of buying has been in Nasdaq, and gold with silver cut really short their correction, and stopped responding to higher nominal yields or the dollar (again). While stocks keep gyrating in 100+ pts ranges and only Nasdaq started to show signs of life, it’s up to the real assets as discussed broadly in the Apr 02 article to deliver most reliable gains, for reasons explained therein.
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Let’s move right into the charts (all courtesy of www.stockcharts.com) – today’s full scale article contains 3 more of them, with commentaries.
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Gold, Silver and Miners
Precious metals are primed to keep their yesterday’s gains intact, even if USD continues spiking, and regardless of yields having taken a breather following good and well received 30y auction yesterday or IRNA statement.
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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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