Published on line late yesterday EU chief negotiator Michel Barnier in an interview with The Guardian newspaper warned there would be no special deal for British financial services and their passporting rights to the European Union. ‘There is not a single trade agreement that is open to financial services. It doesn’t exist’.
An Amtrak high speed train on its inaugural run from Seattle to Portland, Oregon, derailed on a bridge over a highway yesterday. Train carriages fell onto five cars and two trucks killing at least three people and injuring nearly 100.
DAX 30
Momentum’s turned bullish as this index rallies pretty much in line with all major indices, sometimes called a ‘Santa rally’.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
FTSE 100
Bullish momentum is as strong as it was when we first reached current levels in October.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
S&P 500
Overbought again on the daily RSI.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
The commodity channel index, as well as other features of this chart, show that cable is trying, though slowly, to form an interim base against 1.3300.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
EURO/US DOLLAR
Like cable, slowly trying to put in an interim base against 1.1700 showing that the move is US related rather than anything to do with Brexit talks.
SHORT TERM TRADER: Long at 1.1825; stop below 1.1700. Target 1.1940.
POSITION TAKER: Square.
GOLD
Another market half way between the high and the low of the last twelve months.
SHORT TERM TRADER: Square.
POSITION TAKER: Short at 1249; stop above 1270. First target 1215, and 1200.
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.
