Trading Analysis for Tuesday 5th December 2017
Yesterday, the US markets open for the first time since the tax bill passed the Senate early Saturday morning. The USD was flat but equities gapped up and then moved down. The move out of US tech stocks continued. The JPY strengthened and the US 10 Year yield dropped. Elsewhere in equity world, the gap up/fall pattern was repeated. Oil dropped as the OPEC meeting result sinks in. I’d say risk was neutral/off.
In Australia, the RBA kept the Cash Rate at 1.50% and there was nothing of note in the statement. Also in Oz, Retail Sales beat expectation.
On the currency markets, the GBP rose, fell and ended the day slightly up after the Brexit palaver where an Irish border dispute derails Brexit talks. So close, yet so far. Still, Teresa seems on for another bash at it on Wednesday.
Today, it’s early, but risk sentiment is looking a bit more positive this morning with equities gapping up, the JPY weakening and the US 10 Year yield rising. If this holds, the FTSE100 long theme from the Trading Plan will be in focus.
VIP Club members please [mepr-login-link] to access your Daily Alert video.
For VIP Club members, this commentary is augmented with a short daily video where I discuss the trades I am in and the opportunities for tomorrow. If you would like a free one month trial to the VIP Club you can find out more HERE.
Here is your Daily Alert video.
The updated Trading Plan is HERE.
You can download the video HERE. If it starts to play in your browser, right click on it and select “save video as” or similar and it will download to your machine.
There is an archive of all VIP Club member’s content on the VIP Club page.