Like a cabal of witches sitting at their circular table, stirring the cauldron at its centre, European Union heads of state have decided to give Theresa May leave to remain until the 31st October – though she can extricate herself from their clutches sooner if the British Parliament signs off their existing, grisly agreement deal. Donald Tusk tells her ‘’don’t waste Brexit overtime’’.
Bloomberg reports that Amazon has thousands of employees listening in on what customers are telling Alexa, their digital assistant, from their homes and offices. Commands and background conversations are ‘transcribed, annotated and fed back into the software in order to try and improve Alexa’s understanding of human speech’. Big sister!
DAX 30
Holding just above the neckline of the giant head and shoulders top, hinting that the move above here might have been a false break.
SHORT TERM TRADER: Looking to re-sell, depending on tomorrow’s close.
POSITION TAKER: Square.
FTSE 100
Hovering in ridiculously tiny ranges just under this year’s high.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
S&P 500
Holding at this year’s high as the quarterly earnings season starts today. Fast FT says: ‘The S&P 500 is expected to report a blended rate of actual and estimated earnings decline of 4.2 per cent in the first quarter from a year ago. If that plays out, it would mark the first year-on-year earnings contraction since the second quarter of 2016.’
SHORT TERM TRADER: Square.
POSITION TAKER: Short at 2800; stop above 2900. Target 2550.
BRITISH POUND/US DOLLAR
So much for politicians deciding on their country’s, and with it the currency’s, fate.
SHORT TERM TRADER: Tiny long at 1.3020; stop below 1.2950. Target 1.3300.
POSITION TAKER: Square.
EURO/US DOLLAR
Still trying to rally, with yesterday’s hammer candle hopefully adding a little bullish momentum.
SHORT TERM TRADER: Long at 1.1245; stop below 1.1170. Target 1.1380.
POSITION TAKER: Long at 1.1225; stop below 1.1170. Target 1.1425.
GOLD
Let’s see if the latest little rally stalls under th old upward-sloping trend channel and under the new downward-sloping tren line I drew in yesterday.
SHORT TERM TRADER: Square.
POSITION TAKER: Short at 1292; stop above 1320. Target 1185.
