In Davos yesterday, Roberto Gualtieri told CNBC that Wednesday’s resignation of Luigi Di Maio as leader of the 5 Star Party, coalition partner since September with the PD, ‘’it is not affecting neither the government, nor the majority’’. Mr Di Maio will carry on in his role as foreign minister. This comes against a background of an important regional election looming in Emilia Romana where Salvini and his Legua Party are currently (and surprisingly for this left-leaning part of the country) are ahead in opinion polls.
The central Chinese city of Wuhan, with 11 million inhabitants and where the latest respiratory virus was first spotted, has not only had all inter-city transport cancelled but now also all public transport shut down. Face masks must be worn in public and hospitals are struggling to test and treat potential victims.
DAX 30
A shooting star candle at a fractionally new record high, just above the top of a potential broadening top formation candle – probably marks an interim high as momentum is not bullish at all on the closing price.
SHORT TERM TRADER: New short at 13460; stop above 13640. Target 13000.
POSITION TAKER: Square.
FTSE 100
Momentum turned just bearish on yesterday’s close in what might be a double top that’s been building since mid-December.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
S&P 500
Overbought, and now looking a tad precarious with two consecutive doji candles ever so close to the record high.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
Small signs of life at last.
SHORT TERM TRADER: Small long at 1.3075; stop below 1.2900. Target 1.3500.
POSITION TAKER: Square.
EURO/US DOLLAR
Not sure if this even has a pulse though the MACD is resolutely bearish.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
GOLD
Carefully testing, yet hovering above, the pivotal 1540 level.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
