Your mobile phone rings, you don’t pick up the call. Nevertheless, it’s already been infected with Israeli-made surveillance software that uses listening devices, trawls data, the camera, video and GPS positioning. The Financial Times reports that this malicious attack was developed by the NSO Group, a company with clients which include intelligence agencies worldwide. WhatsApp has been working around the clock since Friday to issue a patch for its customers, fix its servers, and assess how many devices have been affected.
For the first time ever, the US Securities and Exchange Commission has approved an exchange traded fund that charges no annual fees but instead pays into funds handled to the tune of 0.05 per cent annually. Salt Financial, a New York based fund manager, has launched a negative fee Salt Low Tru Beta ETF, waiving the 0.29 per cent fee until at least April 2020, contributing 0.05 per cent of funds average daily net assets until it reaches $100 million.
DAX 30
Clinging to the 23 per cent Fibonacci retracement support level and the trend line since Christmas. Today at VW’s AGM the Board is expected to be given a hard time at this closely controlled family-dominated auto-maker. This morning ThyssenKrupp announced a Q2 2019 loss of €99 million versus a €240 million profit this time last year – on the auto sector slowdown.
SHORT TERM TRADER: New short at 11840; stop12200. Target 10750.
POSITION TAKER: Short at 12110; stop above 12285. Target 11000.
FTSE 100
Bearish momentum increased on yesterday’s close as the market has now given up a Fibonacci 38 per cent of this year’s gains. Nothing dramatic, just deflating.
SHORT TERM TRADER: Short at 7245; stop above 7300. Target 7020.
POSITION TAKER: Short at 7275; stop above 7400. Target 6875.
S&P 500
Unsurprisingly bearish momentum’s stronger than its been all year as the index retraces a mere Fibonacci 23 per cent of the gains since Christmas. Note that the Nasdaq fell further yesterday as the FAANGS are targeted.
SHORT TERM TRADER: Short at 2880; stop above 2960. Target
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
Struggling again.
SHORT TERM TRADER: Stopped out for a 1 cent loss.
POSITION TAKER: Square.
EURO/US DOLLAR
Yesterday’s test of first trend line resistance has caused the commodity channel index to reach its higher levels. Our profit target on this dreary little trade may therefore be too optimistic.
SHORT TERM TRADER: Long at 1.1190; stop below 1.1140. Target 1.1400.
POSITION TAKER: Square.
GOLD
A surprising rush into gold yesterday has seen momentum turn properly bullish.
SHORT TERM TRADER: Stopped out for a small loss.
POSITION TAKER: Stopped out at no loss.
