The Financial Times newspaper reports that a senior Whitehall official is worried because GCHQ, Britain’s intelligence headquarters, is worried about software given away to about 2 million of the bank’s retail customers. Bought from UK software firm Kapersky Lab, for months spymasters have feared that Russia’s successor to the KGB, the FSB, has infiltrated the program and may be using it to collect data on customers’ bank accounts and transactions.
The Wall Street Journal reports that US supermarket giant Wal-Mart, in an attempt to lure shoppers back into its shops, will up the price of some household goods sold via its website but keep them at current levels in stores. This sort of clashes with its slogan: ‘everyday low price’.
DAX 30
An important candle last week with a brief probe to a new record high only to close at the low of the low thus forming a bearish engulfing candle with that of the previous week. Though the settlement price was below the immediate very steep trend line it was a pity that it didn’t close below 13000 which would have made for a more powerful sell signal.
SHORT TERM TRADER: Still square and looking to sell.
POSITION TAKER: Square.
FTSE 100
Another index with a small and rather inconclusive bearish engulfing candle last week as bullish momentum evaporates.
SHORT TERM TRADER: New short at 7470; stop above 7590. Target 7125.
POSITION TAKER: Square.
S&P 500
A tiny doji candle at a fractionally new record high and an index that is still ludicrously overbought – oh, it all looks so precarious.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
Brexit and more Brexit, cable is side-lined really – which is a good thing.
SHORT TERM TRADER: Long at 1.3155; stop below 1.3025. Target 1.3300.
POSITION TAKER: Square.
EURO/US DOLLAR
Tomorrow, Tuesday 14th November, The ECB host a meeting with the heads of the US Fed, the Bank of England and the Bank of Japan. The topic: ‘Challenges and opportunities of central bank communication’. Let’s hope they won’t rock the boat. Meanwhile the euro is clinging to the pivotal chart area around 1.1600.
SHORT TERM TRADER: Short at 1.1610; stop above 1.1700. Target 1.1200.
POSITION TAKER: Square.
GOLD
Gold is guttering around where it has been so often over the last two years or so. Really very difficult to get enthusiastic.
SHORT TERM TRADER: Square.
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.
