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Friday’s S&P 500 intraday reversal higher didn’t last into the close even if bonds favored that. The odds though remain heavily stacked against the buyers. The rally off Oct lows is failing, monetary tightening around the world continues, core inflation is still resilient for now.

Friday’s seesaw turned the bearish direction pretty fast, and following 4,415, there is 4,360s as the next milestone for the sellers. In an environment of rising yields, utilities wouldn’t offer much of a protection, and when Big Tech succumbs to the disconnect to yields, the ES decline would quicken.

Sectoral view is enough to determine that the sellers have an advantage that the tech isn’t to overcome. Friday’s bonds posture reflects the intraday rally attempt in stocks, which however wouldn‘t be sufficient for ES gains ahead.This chart evens the stock market outlook for Monday – the sellers are though to eventually win.

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. Despite careful research and best efforts, it may prove wrong and be subject to change with or without notice.

https://www.valuewalk.com/sp-500-eye-of-the-storm/

Monica Kingsley does not endorse any stocks or investments. Friday's S&P 500 intraday reversal to the upside was not sustained and the odds still lie heavily with the sellers. The rally from October lows has begun to falter, and with global monetary tightening and rising core inflation, the outlook for stocks is bleak. The sustainability of the 4,415 ES level is doubtful given the rise in long-term yields, and the lack of support from the Utilities sector. Big Tech's disconnect with yields will likely cause the S&P 500 to fall quickly, and the sectoral view indicates that the sellers hold the advantage. The bond markets reflect the stock market's attempt to rally, but it is unlikely to be enough to sustain the increase. Monday's chart points to the possibility that the sellers will ultimately prevail. Monica Kingsley does not recommend any stocks or investments, and her content should not be seen as providing advice or recommendations. Her research is for educational purposes only and should not be relied upon as advice. Despite the best efforts and care taken, the accuracy and completeness of the information and data may be subject to change without notice.

https://www.valuewalk.com/sp-500-eye-of-the-storm/

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