Trading Plan – Monday 11th March 2024: Japan avoids recession

Mark NugentMarch 2024, Trading Plan

Trading Plan – Monday 11th March 2024: Japan avoids recession

Good afternoon.

Japan’s Q4 GDP disappointed to the downside but stayed above zero, thereby avoiding a second quarter of negative growth and the dreaded “recession” label. As such, the Bank of Japan should not be derailed from their plan (we think they have a plan) to raise rates for the first time in ages. The JPY rose.

The highlight of the week is US CPI on Tuesday. The year-on-year core number is expected to make a significant move downwards to 3.7% from the prior month’s 3.9%. Any miss, in either direction, is likely to move the market.

I closed my first Bitcoin trade for a gain of around 2.6%.

I have updated the “sentiment gauge and finding trades” spreadsheet to version 2.6. You can download it from the VIP Club members area.

I’ll be back tomorrow with a brief video on last week’s profitable Japan225 long trade.

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