Daily Alert – Tuesday 7th December 2021: Docile markets give opportunity

Mark NugentDaily Alert, Dec 2021

Daily Alert – Tuesday 7th December 2021: Docile markets give opportunity

Good morning.

With a sparse economic calendar, no chit-chat from Fed Chair Powell and nothing new on the Omicron front, the market sat quietly in the corner playing with its toys and gurgling. Sentiment was risk-on and all the indicators we look at were pointing in the same direction. Bliss.

I went long on Japan225 and WTI, just like last week. Irritatingly, I missed AUDJPY long because, although the JPY was weak due to the risk sentiment, I thought the AUD was also weak, but I noticed this morning I was looking at the AUD on the weekly, not daily chart. Schoolboy error.

Risk sentiment is still positive as Tuesday begins. Long may it continue.

Happy trading.

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