In the year to February exports from China rose by 36.2 per cent while imports fell by 0.2 per cent taking the trade surplus to the equivalent of US$ 33.7 billion. Combining January and February’s data, to try and adjust for the Lunar New Year, exports rose 24.4 per cent. Today its foreign minister Wang Yi said they were prepared to take the necessary response should President Trump start a trade war which would negatively impact all
International Women’s Day today and accountancy firm Deloitte has announced it maintains a 43 per cent pay gap between men and women. At the Vatican ex-Irish President Mary McAleese has been barred from speaking at a conference having accused the Catholic church of being misogynistic and generally ignoring women.
DAX 30
Still holding above horizontal support at 12000.
SHORT TERM TRADER: Small short at 12535; stop well above 12400. Target at 11750.
POSITION TAKER: Small short with a stop above 12400. Will add to the position on a weekly close below 12000 and on a daily one below 11700.
FTSE 100
Trapped in a tiny range between the 7200 and 7100.
SHORT TERM TRADER: Small short at 7180; stop well above 7200. Target at 7000.
POSITION TAKER: Short at 7250; stop above 7325. Target the 6675 area.
S&P 500
Holding above long term trend line support, but going nowhere.
SHORT TERM TRADER: Small short at 2720; stop well above 2740. Target 2550.
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
Creating a little doji yesterday as the market moves at a glacial pace.
SHORT TERM TRADER: Small long at 1.3835; stop below 1.3700. Target 1.4100.
POSITION TAKER: Small long at 1.3775; stop below 1.3700. Target 1.4250.
EURO/US DOLLAR
Stalling close to this year’s high as some speculate that at today’s ECB meeting Mario Draghi might have something to say about curtailing QE.
SHORT TERM TRADER: Small long at 1.2267; stop below 1.2250. Target 1.2500.
POSITION TAKER: Small long at 1.2270; stop below 1.2200. Target 1.2500.
GOLD
A decent sized candle yesterday but an inside one nevertheless as we consolidate inside this year’s triangle.
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.
