The TSB, formerly known as Trustee Savings Bank, warned customer that internet and app access to their accounts would be disrupted last weekend as it weaned itself off computer systems owned by former owner Lloyds bank. Due to be completed by 18:00 Sunday 22nd April, the upgrade has run into problems. Initially management said the upgrade was successful, then it was forced to backtrack as customers were reporting lots of problems. The FCA and the Information Commissioner’s Office are talking to the TSB.
The London Stock Exchange blamed increased volatility for a 13 per cent growth in Q1 income to £520 million annualised. The shareholder meeting is today.
DAX 30
Odd little price moves at the 50 per cent retracement level, yet the commodity channel index has clearly turned down.
SHORT TERM TRADER: Small short at 12430; stop above 12650. Target 12000.
POSITION TAKER: Square.
FTSE 100
The latest rally has retraced a Fibonacci 61 per cent of this year’s decline and the straight line move has put the index into overbought territory.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
S&P 500
Stuck under the long-term trend line (which has now become resistance) and under a new tentative trend line taken from the record high. The commodity channel index is negative.
SHORT TERM TRADER: Small short at 2689; stop above 2725. Target 2580.
POSITION TAKER: Short at 2673; stop above 2740. First target 2560.
BRITISH POUND/US DOLLAR
Lots of hype about cable trading below 1.4000, as there is about US 10-year Treasury yields being almost 3 per cent. Technically irrelevant.
SHORT TERM TRADER: Square.
POSITION TAKER: Small long at 1.4025; stop below 1.3900. Target 1.4345.
EURO/US DOLLAR
Back down at this year’s lows and almost oversold in the process.
SHORT TERM TRADER: New small long at 1.2205; stop below 1.2100. Target 1.2465.
POSITION TAKER: Square.
GOLD
Dropping in line with a little bout of US dollar strength.
SHORT TERM TRADER: Small short at 1342; stop above 1356. Almost met target at 1320 so will look to take profits today.
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.
