Reuters has heard that Ventus Lau, who helped organise Sunday’s demonstration in Hong Kong’s financial district, was charged with ‘obstruction of police administration’ and violating the terms set which allowed the protest to go ahead. ‘’It was primarily rioters’ violent acts which led to the suspension of the gathering’’, said Senior Superintendent Ng Lok-chun. This takes place against a background of a SARS-style virus spreading on the mainland, where there’s evidence it can be passed from person to person, ahead of the Lunar New Year holiday which starts Friday.
Violent protests have also taken place in Beirut and some other Lebanese towns again this weekend, one man blinded and another 300 injured as bank branches were attacked. These have limited access to customer deposits for weeks. The UK Treasury has frozen all Hezbollah assets claiming it is a terrorist organisation; previously only its military wing had been designated thus.
DAX 30
Overbought again as the index hovers just under the record high having formed yet another tiny doji candle last week. Bloomberg reports that head of the ECB, Christine Lagarde, has plans to modernise the central bank and make it fit for the 2020s.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
FTSE 100
The strongest weekly close since the summer of 2018 yet the commodity channel index has begun to turn down. In an Oxfam report published yesterday they found that the world’s 2153 billionaires are richer than the combined wealth of 4.6 billion people. The richest are Amazon’s Jeff Bezos and LVNH’s Bernard Arnault with $116 billion each.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
S&P 500
Seriously overbought as the index settles at a new record high ahead of today’s Martin Luther King US holiday. Tomorrow President Trump’s impeachment trial starts in the US Senate and the World Economic Forum likewise, an event Mr Trump is scheduled to attend.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
No momentum as this currency pair clings to its old trend line.
SHORT TERM TRADER: Small long at 1.3075; stop below 1.2900. Target 1.3500.
POSITION TAKER: Square.
EURO/US DOLLAR
Another currency pair with no momentum.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
GOLD
A dragonfly doji on pivotal support at 1540 has kept momentum bullish on the weekly chart.
SHORT TERM TRADER: Small long at 1544; stop below 1530. Target 1580.
POSITION TAKER: Square.
