Yesterday the US supreme court ruled that the proposed ban restricting access to the US by mainly Muslim countries’ citizens (Chad, Libya, Iran, Somalia, Syria and Yemen – plus North Korea and Venezuela) can go ahead even though the lower court has yet to ratify its legality.
As if the crypto-currency speculative boom weren’t big enough already, now three different US exchanges are planning to list bitcoin futures contracts. Starting with the CBOE on December the 10th, announced yesterday, followed by the CME on December 18th, and eventually Nasdaq sometime in the first half of 2018.
DAX 30
The Christmas lull seems to have set in already even though we’ve got another 20 days to go.
SHORT TERM TRADER: Short at 12960; stop above 13225. First target 12700.
POSITION TAKER: Square.
FTSE 100
Back down at late August levels with a slightly unclear MACD.
SHORT TERM TRADER: Short at 7470; stop above 7480. Target 7125.
POSITION TAKER: Square.
S&P 500
Slightly unsteady yesterday with the tech sector selling off suddenly. The sell-off yesterday has eased the overbought RSI.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
Bullish momentum has eased on yesterday’s Brexit negotiation set-back. Next step December 14th.
SHORT TERM TRADER: Long at 1.3425; stop below 1.3340. Target 1.3620.
POSITION TAKER: Long at 1.3325; stop below 1.3340. Target 1.3590.
EURO/US DOLLAR
Holding towards this year’s higher levels.
SHORT TERM TRADER: Small long at 1.1870; stop below 1.1795. Target 1.2050.
POSITION TAKER: Square.
GOLD
Like spot silver, gold is hovering in what ought to be fairly pivotal support.
SHORT TERM TRADER: Short at 1281; stop above 1290. Target 1260.
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.
