Two reports out yesterday claim that total global assets under management at the end of 2016 stood at over $80 trillion. Willis Tower Watson states the numbers increased by 5.8 per cent to $81.2 trillion. PwC comes up with a total of $84.9 trillion which includes ETFs and forecasts these to grow to $145.4 trillion in 2025. By far the biggest firm is US’s Blackrock with assets of $5.14 trillion, followed by pioneer Vanguard with $3.96 trillion. Germany’s Allianz sits in fifth place with $1.97 trillion and the biggest British firm, with $1.1 trillion, comes in at number 20.
Today, at a US Senate Judiciary subcommittee hearing, social media giants Facebook, Google and Twitter will give the panel more details about the extent of advertisements and web sites linked to Russia and possibly the Kremlin, Bloomberg reports. Further hearings are due tomorrow at the House Senate intelligence committee.
DAX 30
As overbought on the RSI as it was at the beginning of this month despite two consecutive days of the tiniest of ranges.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
FTSE 100
Switching either side of 7480 – which was not what we had hoped for – with the MACD clearly in bearish territory.
SHORT TERM TRADER: Short at 7554; stop above 7570. Target 7320.
POSITION TAKER: Square.
S&P 500
Not quite so overbought on the daily chart as we remain semi-capped by the 2575 area.
SHORT TERM TRADER: Small short at 2567; stop above 2580. Target 2500, maybe 2450.
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
Consolidating in a symmetrical triangle, as we struggle with August’s high, which in theory should lead to an upside break. The commodity channel index confirms how unfortunate it was that I was stopped out on Friday.
SHORT TERM TRADER: Looking to buy again.
POSITION TAKER: Square.
EURO/US DOLLAR
Managing an unseemly scramble from the watershed level at 1.1600.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
GOLD
Crushingly boring as we hover roughly in the middle of the range since July.
SHORT TERM TRADER: Small short at 1275; stop above 1285. Target 1220.
POSITION TAKER: Square.
Nicole Elliott is a long-standing Member of the Society of Technical Analysts and has taken over 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.
