The second death outside mainland China caused directly by the new virus, it follows a Wuhan man visiting Manila on Sunday. Starting yesterday, thousands of medical workers in Hong Kong are going on strike because they want a complete shutdown of all border crossings to the Chinese mainland, something HK leader Carrie Lam claims would be ‘’discriminatory’’. Today the government of Macau has asked all casino operators to close their establishments for a fortnight as a tenth case of the virus was confirmed in the island.
A letter sent yesterday from the UK’s Financial Conduct Authority has asked credit card lenders to make arrangements for borrowers who have been persistently in debt for 3 years. ‘’Firms must help customers reduce the level of debt they have. If a customer cannot afford the firm’s proposals for how to do this, the firm must offer forbearance, potentially including reducing, waiving or cancelling any interest, fees or charges.’’.
DAX 30
Bouncing from the recent low but barely making a dent in the fairly bearish MACD.
SHORT TERM TRADER: Short at 13460; stop above 13400. Target 13000.
POSITION TAKER: Short at 12945; stop above 13650. Target 11850.
FTSE 100
Retracing a Fibonacci 38 per cent of recent losses has seen bearish momentum ease quite quickly.
SHORT TERM TRADER: Short at 7470; stop above 7550. Target 7200.
POSITION TAKER: Short at 7260; stop above 7440. Target 6800.
S&P 500
Bearish momentum easing fast as the market holds above recent lows. Q4 2019 results from Google owner Alphabet missed estimates for revenue growth sending the shares down by up to 5 per cent in after-hours trading.
SHORT TERM TRADER: Short at 3260; stop above 3350. Target 3100.
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
Bluff and posturing by both sides of the Brexit trade talks yesterday has been unhelpful.
SHORT TERM TRADER: Stopped out for a small loss on yesterday’s slide.
POSITION TAKER: Square.
EURO/US DOLLAR
Reversing much of Friday’s rally thereby keeping momentum bearish.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
GOLD
Price action here is a constant disappointment.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
