Join our community of smart investors
OPINION

The Trader's Market Outlooks: Tuesday 3 April

The Trader's Market Outlooks: Tuesday 3 April
April 3, 2012
The Trader's Market Outlooks: Tuesday 3 April

That changed dramatically as the session wore on, with particularly impressive surges in the laggardly DAX and FTSE. My long position in the S&P benefited duly and I am sticking with it into today. There is plenty of scope for the rally to continue in the near-term, as we progress further into the seasonally favourable month of April. Moreover, the indices aren't yet overbought on their daily charts. I may add to my index exposure today, perhaps even with one of the European markets.

for analysis of some leading equity indices.

COMMODITIES

I am still bullish in my immediate term outlook for copper and Brent. And I think that gold and silver could form an important low at some point in April. However, I am somewhat concerned by the cyclical picture in the US Dollar. A potential turning-point in the Dollar index is approaching round about 9 April. With the greenback weak right now, there’s an obvious danger that the turning-point will be a low, therefore. And this could put the mockers on my projections for stronger commodities. I am sticking to my bullish guns in commodities for now, but I shall be watching the dollar particularly closely around that scheduled turn.

for analysis of some leading commodities.