Late yesterday chip makers at the heart of nearly all electronic devices were warned by researchers at Google’s Project Zero, working in conjunction with industry experts and academics in several countries, that there is a fundamental flaw central to the hardware. It means that desktop computers, laptops and tablets, mobile phones and internet servers could be targeted by hackers who wanted to steal sensitive information. A patch and an update to the operating system are needed to fix the issue.
Last year less than half British electricity was generated from fossil fuels. Low carbon sources, including nuclear, bioenergy, solar, wind and hydro, have seen their input double since 2009 to take just over 50 per cent. Needless to say, fossil fuel use has moved in the opposite direction from 75 per cent in 2010 to 47.5 per cent in 2017. Meanwhile the aftereffects of the great financial crisis rumble on.
DAX 30
Back firmly inside the 12900 to 13200 band; what a bore!
SHORT TERM TRADER: Square.
POSITION TAKER: Short at 12920; stop above 13200. Target 12400.
FTSE 100
That’s more like it, with first, and pivotal support at 7600, now acting as a platform for further gains – hopefully. in just one day. Today, three days into 2018, FTSE chief executives will have raked in more than the average worker earns in a year. In a report from the Chartered Institute of Personnel and Development and the High Pay Centre show CEOs will have on average earned £28,758 even as their pay dropped by 17 per cent in 2017.
SHORT TERM TRADER: Square.
POSITION TAKER: Long at 7681; stop below 7580. Target 8000.
S&P 500
Unstoppable and overbought, even as US vehicle sales suffer their first annual decline since the great financial crisis.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
Hesitating yesterday ahead of last year’s high with an almost bearish engulfing candle. Momentum remains bullish so perhaps we’ll hold above first Fibonacci support at 1.3475
SHORT TERM TRADER: Long at 1.3540; stop below 1.3470. First target 1.3800.
POSITION TAKER: Square.
EURO/US DOLLAR
Consolidating at some of the highest levels in three years.
SHORT TERM TRADER: Small long at 1.2035; stop below 1.1935. Target 1.2185.
POSITION TAKER: Square.
GOLD
Prices stalling despite lots of bullish noises from the precious metals industry.
SHORT TERM TRADER: Short at 1314; stop above 1335. Target 1270.
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.
