DAX 30
Making little headway at the psychological 12000 even as the 2-year Schatz yield sets a new record low of minus 92 basis points.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
FTSE 100
Such tiny little daily candles but yesterday was a shooting star – another small sign of instability close to the record high.
SHORT TERM TRADER: Small short at 7265; stop above 7355. Target 6950.
POSITION TAKER: Square.
S&P 500
Consolidating at the record high and horribly overbought on the RSI.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
Move along now as there’s nothing to see here.
SHORT TERM TRADER: Small long at 1.2535; stop below 1.2400. Target 1.2730.
POSITION TAKER: Square.
EURO/US DOLLAR
Holding against support at 1.0500 with a small doji candle. In theory it ought to recover from here. Keep an eye on coverage of the upcoming Dutch election.
SHORT TERM TRADER: Small long at 1.0625; stop below 1.0500. Target 1.0730/1.0800.
POSITION TAKER: Square.
GOLD
Zero momentum and prices are going nowhere.
SHORT TERM TRADER: Small short at 1222 and getting very fed up holding this boring position; stop above 1255. Target 1180.
POSITION TAKER: Square.
MORE FROM NICOLE ELLIOTT...
Nicole Elliott is a longstanding Member of the Society of Technical Analysts and provides the IC's trading coverage. She is regularly interviewed and quoted by the financial media, is a conference speaker and author of several books on charting.