Join our community of smart investors

Market Outlook: Finland’s parties tied in Sunday’s election

Reflects entrenched views
April 15, 2019

The Finnish justice ministry says that the left-leaning Social Democrats, who have not held power for many years, gathered 17.7 per cent of the vote while anti-immigration Finns Party picked up 17.5 per cent. Leader Antti Rinne, a former union boss, will now try to form a coalition government, while the Centre Party of PM Juha Sipila slipped to 13.8 per cent of the vote.

In a Tweet yesterday President Trump said: ‘If the Fed had done its job properly, which it has not, the Stock Market would have been up 5,000 to 10,000 additional points, and GDP would have been well over four per cent instead of 3 per cent…with almost no inflation. Quantative tightening was a killer; should have done the exact opposite’.

DAX 30

Hovering at this year’s high and the stochastic has yet to turn down.

 

SHORT TERM TRADER: Square.

 

POSITION TAKER:  Square.

FTSE 100

Ridiculously overbought.

 

SHORT TERM TRADER:   Square.

 

POSITION TAKER:  Square.

S&P 500

Another index that’s terribly overbought.

 

SHORT TERM TRADER:  Square.

 

POSITION TAKER:   Stopped out on Friday’s rally through 2900.

BRITISH POUND/US DOLLAR

No momentum to speak of as we edge into the triangle’s apex.

 

SHORT TERM TRADER:  Tiny long at 1.3020; stop below 1.2950. Target 1.3300.

 

POSITION TAKER:  Square.

EURO/US DOLLAR

Bullish momentum picking up a bit as we get set to test trend line resistance.

 

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

Momentum’s just bearish as we aim for of key support at 1280.

                            

SHORT TERM TRADER:  New short at 1292; stop above 1315. First target 1280, then 1260.

 

POSITION TAKER:  Short at 1292; stop above 1320. Target 1185.

Nicole Elliott is a long-standing member and Fellow 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.