The Financial Times reports that yesterday at the United Nations Nikki Haley, US ambassador, demanded stronger sanctions against North Korea because it was ‘begging for war’. Today the Nikkei Asian Review reported that the Japanese government was possibly planning for a mass evacuation of the roughly 60,000 citizens it has living or visiting South Korea.
Last night the governors of Florida and Puerto Rico declared a state of emergency as category 4 storm Irma moves across the Caribbean towards them and possibly parts of the US East Coast.
DAX 30
Probing immediate trend line resistance at the Fibonacci 23.6 per cent retracement resistance level as the 50-day descending moving average looks set to cross below the 200-day one.
SHORT TERM TRADER: Small short at 12225; stop above 12300. Target 11550.
POSITION TAKER: Short at 12175; stop above 12355. Target 11500.
FTSE 100
Still messing about at the 50 per cent retracement level as the British Parliament gets back to work today.
SHORT TERM TRADER: Square.
POSITION TAKER: Short at 7300; stop above 7460. Target roughly 7000.
S&P 500
Filling the tiny gap created over the weekend though bullish momentum has eased quickly.
SHORT TERM TRADER: Short at 2468; stop above 2480. Next target is pivotal support at 2400.
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
Very dreary as we are exactly where we were in May, currently half way between this summer’s low and high.
SHORT TERM TRADER: Small long at 1.2950; stop below 1.2850. Target 1.3100.
POSITION TAKER: Square.
EURO/US DOLLAR
Hovering nervously just under this year’s high.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
GOLD
The gap created over the weekend remains as gold hovers at this year’s high.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
