Daily Alert – Thursday 9th December 2021: Bullishness running out of steam

Mark NugentDaily Alert, Dec 2021

Daily Alert – Thursday 9th December 2021: Bullishness running out of steam

Good morning.

Yesterday saw the third consecutive day of risk-on sentiment. However, and critically, equities did not move, and the risk assessment was driven by a rise in bond yields. This made me cautious in terms of management of my Japan225 long. In fact, I closed have of it at the end of the daily candle and the remaining half was closed at 5am this morning when my tight stop loss was hit. My WTI long is in the money and still seems to have some life in it, but is running out of steam so I will not allow it to turn down too much.

The GBP was hit by the announcement of new Omicron-inspired movement restrictions and the general shambolic malaise beaming from Downing Street.

There’s little to frighten the horses in what remains of this week’s economic calendar.

I’ll be back tomorrow with brief videos of closed trades.

Have a great weekend when it comes.

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