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Risk-Off Moves Returning

By Monica KingsleyCommoditiesAug 04, 2021 11:03AM ET
www.investing.com/analysis/riskoff-moves-returning-200596079
Risk-Off Moves Returning
By Monica Kingsley   |  Aug 04, 2021 11:03AM ET
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Let's move right into the charts (all courtesy of www.stockcharts.com).

S&P 500 And Nasdaq Outlook

SPX And NASDAW Daily Chart.
SPX And NASDAW Daily Chart.

In spite of yesterday's upswing, S&P 500 keeps going sideways, and the indicators aren't all clear on the bulls great prospects. The vulnerability to a bear raid is still very much there.

Credit Markets

HYG, LQD And TLT Combined Chart.
HYG, LQD And TLT Combined Chart.

Credit markets didn't really reverse yesterday. The risk-off sentiment remains very much on in spite of iShares iBoxx $ High Yield Corporate Bond ETF (NYSE:HYG) erasing intraday losses. The stock market bulls aren't out of the woods in spite of the improving market breadth.

Gold, Silver And Miners

Gold, HUI And Silver Combined Daily Chart.
Gold, HUI And Silver Combined Daily Chart.

Miners' strong showing yesterday bodes well for both precious metals, and I'm looking for more gains in the sector. Remember that declining real rates on account of the risk-off bond moves, increase gold's appeal just as much as any worries about a decelerating economy or external shocks.

Crude Oil

Crude Oil Daily Chart.
Crude Oil Daily Chart.

Yesterday's downswing was partially bought, and the energy sector increase (great performance within the S&P 500) would point to a reversal soon. I'm not convinced that the bottom is in and that the bears have said their last word.

Copper

Copper Daily Chart.
Copper Daily Chart.

Copper has traded on a weak note yesterday, and hasn't convincingly stabilized just yet. The volume is indicating buying interest isn't there.

Bitcoin And Ethereum

Bitcoin And Ethereum Combined Daily Chart.
Bitcoin And Ethereum Combined Daily Chart.

Trading little changed, both cryptos are more than likely to go higher next, even if the indicators aren't yet hinting at that possibility strongly. Should they turn from here (likely in the current atmosphere, alongside with precious metals), that would be a promising sign for the bulls.

Risk-Off Moves Returning
 

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Risk-Off Moves Returning

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Comments (6)
munnu jay
munnu jay Aug 04, 2021 8:16PM ET
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us10y has bottomed and so has oil
Monica Kingsley
Monica Kingsley Aug 04, 2021 8:16PM ET
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To say that 10-y yield bottomed, would imply that now it would rally. I'm not looking for any kind of a sharp one  - sideways, for now. Just as oil is trapped in a range - one, where we are closer to its lower end than to the upper one.
Ch Jutt
Ch Jutt Aug 04, 2021 6:49PM ET
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Please guide me when oil goes to 73
Monica Kingsley
Monica Kingsley Aug 04, 2021 6:49PM ET
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Sure you'll have my opinion - just keep reading me daily to see when I get long again. Today, short oil profits were taken off the table (a quick trade). Have you subscribed already?
Randall Wagner
Randall Wagner Aug 04, 2021 3:08PM ET
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Thank you MK.
Monica Kingsley
Monica Kingsley Aug 04, 2021 3:08PM ET
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Thank you dear Randall! I have mailed you last week, please check what I had to say, and let me know. Much appreciated!
ELLIN Raul Pablo Jiackoni
ELLIN Raul Pablo Jiackoni Aug 04, 2021 1:23PM ET
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very useful article ! Bravo
Monica Kingsley
Monica Kingsley Aug 04, 2021 1:23PM ET
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Thank you Ellin, as always, thank you!!
Guidothekiller pimp
Guidothekiller pimp Aug 04, 2021 11:24AM ET
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I might miss a buy in but I am holding out for a 3% pull back before I start a position on some calls. Thanks.
Monica Kingsley
Monica Kingsley Aug 04, 2021 11:24AM ET
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I guess you're talking about stocks, right?
Richard Clinton
Richard Clinton Aug 04, 2021 11:04AM ET
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Thank you Monica!
Monica Kingsley
Monica Kingsley Aug 04, 2021 11:04AM ET
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Thank you so dear Richard!
 
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