Daily Alert: Thursday 9th May 2019

Mark Nugent Daily Alert, May 2019

Daily Alert: Thursday 9th May 2019

Sentiment remains negative as Chinese Premier Lui He flies into Washington to resume trade talks. Equities are down and I take a Japan225 short due to the sentiment and the strong JPY. I analyse all the currencies and I see strong USD and JPY and weak CAD, AUD and NZD (as all three are commodity currencies and tend to get battered by trade concerns). I look at all six strong/weak pairs and good set-ups are scarce.

So I think it’s about shorting equities and/or waiting for a recovery in sentiment as this week’s losses are sure to be recovered quite quickly when sentiment turns.

I will be releasing the new Position Sizer indicator tomorrow for subscribers.

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