Daily Alert – Thursday 19th January 2023: S&P500 short, first trade of the year

Mark NugentDaily Alert, Jan 2023

Daily Alert – Thursday 19th January 2023: S&P500 short, first trade of the year

Good evening.

Greta arrives at Davos and is seen throwing snowballs at the private jets parked at the airport.

The European Central Bank minutes revealed many members wanted a 75 basis-point hike instead of the 50 basis-point hike they eventually agreed. This agreement was gained on the understanding that the 50 basis-point rate would continue at future meetings. In her speech at Davos, President Lagarde was hawkish and spoke about “way too high” inflation.

Also at Davos, Bank of England Governor Bailey said that two months of slowing inflation is “the beginning of a sign that a corner has been turned”.

Risk sentiment was negative and that has continued into today.

I placed my first trade of the year. I went short on S&P500 as it moved down from resistance and there was strong selling into the close of the daily candle. So far, it’s around 1 percent in the money.

Little remains on the calendar. I will manage my trade and hopefully make a gain before the Friday close.

I’ll be back on Monday with your Trading Plan for week 4.

VIP Club members can see today’s video, all brief trading videos, the Monthly and YTD Performance videos, the Trading Video Course and download the MTM Indicators software HERE