Trading Plan – Monday 15th August 2022: UK economy contracts in Q2

Mark NugentAug 2022, Trading Plan

Trading Plan – Monday 15th August 2022: UK economy contracts in Q2

Good morning.

Last week was quiet, with four out of five days being indecisive in terms of risk sentiment. Thursday was the exception, where we saw risk-on sentiment.

Inflation missed expectations in the US, fuelling some speculation that we were over the worst of it. Hmmm, not so sure. German inflation hit 8.5 percent. GDP in the UK showed contraction: -0.1 percent vs expectation of -0.2 percent. So, not as bad as forecast, but still bad.

I took two trades: S&P500 long, gaining 2.05 percent, and WTI long, gaining 1.37 percent. Brief videos will be published on Friday.

This week is getting off to a quiet start. Highlights are FOMC Meeting Minutes and Retail Sales in the US, inflation in the UK and Canada and the Reserve Bank of New Zealand’s rate and statement.

As always, I go through my trading themes for the week in the video.

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