Financial spread betting update 30th April 2012
This week’s financial spread betting update is now available and can be read by clicking here.
So today is the end of the month and also the end of the best 6 month of the year for stocks. Tomorrow is the start of May and the old trading adage “Sell in May and go away” comes to the minds of traders. Whether that turns out to be the right option remains to be seen. It is interesting to note that the 2nd May last year did indeed turn out to be a good selling point as that was the high of 2011 and stocks declined for the rest of the year and did not regain those highs until February this year. I’ve never been a big fan of seasonal indicators but do look at them just to see what other traders are looking at and that is probably their only real value. Going back to 2010, the high came a little earlier, on the 26th April and the market was then lower and did not regain those highs until November.
So far this morning stocks are flat but as we cover in this week’s update, they have regained their 50 day moving averages. One pattern that does suggest resistance is on the S&P 500 where an advance block pattern has formed, which indicates selling at the highs of the past 2 days. If that is cleared then a test of the highs of the year may well follow.
This week’s financial spread betting update begins with: The past week has seen stocks continue their short-term recovery and move back above their respective 50-day moving averages. The long-term trend is still very much up for stocks and a continuation towards the highs of the year is now a possibility once again..……continue reading by clicking here
Good trading
Phil Seaton
P.S. Click here to find out more about our proprietary financial spread betting system
P.P.S. Click here for more information on our dedicated forex system.
Financial spread betting update 23rd April 2012
This week’s financial spread betting update is now available and can be read by clicking here.
Stocks have begun the week very much on the back foot and at the time of writing, the FTSE 100 is already down 1.51% for the day. The Dax is also taking a battering and U.S. futures are indicating a sharply lower open. If, and it looks likely, that U.S markets do open down, the Nasdaq 100 will go below the 50 day moving average, putting all the stock indexes that we trade at LS Trader below their 50 day MAs. The short-term trend is down for the world’s stock indexes, but due to the extent of the prior rally and as covered in more detail in this week’s update, the long-term trend is still up.
As is pretty much always the case, we are seeing the opposite move from the dollar to stocks, with the dollar gaining against all the majors with the exception of the Japanese Yen, a safe haven currency. The dollar gains are pushing commodities lower, even the best performing commodity of the year, Soybean meal, is pointing lower. Gold is also lower by just over $10 at present and may well be heading for the recent lows and key short-term support at $1613. Should it break that level of support there is almost $100 before the next major support level.
This week’s financial spread betting update begins with:
The past week has seen stocks move slightly higher with the exception of the Nasdaq 100, which is still the only index to remain above the 50 day moving average.
The dollar reversed upon reaching key support and resistance areas and has therefore moved back to within the recent range against most of the majors with only a couple of exceptions..……continue reading by clicking here
Good trading
Phil Seaton
P.S. Click here to find out more about our proprietary financial spread betting system
P.P.S. Click here for more information on our dedicated forex system.
Financial Spread Betting Update 16th April 2012
This week’s financial spread betting update is now available and can be read by clicking here.
Stocks have begun the week higher, but not by much and based on the dollar’s move, something that could quickly and easily reverse. The moves this morning have come from the dollar, which is pressing higher and looks set to test some key resistance/support levels today which we cover in more detail in this week’s update. The Euro and Dollar Index in particular are the markets to watch and if these two break out of their current ranges and through in the case of the Euro, a fairly critical support point, we will likely see the dollar gain ground against the other majors and further weakness for stock indexes.
In addition, commodities may also weaken. Gold and Crude are already lower this morning, Crude has already been lower by a dollar and Gold lower by almost $20. As we also cover in this week’s update, Crude is approaching a very good support area and one that will take some breaking. For now the Euro is holding above support and at an area that has also attracted buying of late so it is equally possible that the Euro will push higher and the opposite reaction that we wrote about above in other markets follow.
This week’s financial spread betting update begins with: The past week has seen stocks continue to head south, and all but the Nasdaq 100 are now below the 50 day moving average, so the short term trend is down. The long-term trend is still up however for all the stock indexes but further short term weakness may follow this week.……continue reading by clicking here
Good trading
Phil Seaton
P.S. Click here to find out more about our proprietary financial spread betting system
P.P.S. Click here for more information on our dedicated forex system.
Financial spread betting update 9th April 2012
This week’s financial spread betting update is now available and can be read by clicking here.
Monday may well be fairly light in volume as although the US markets are open, it’s a Bank Holiday in the UK and UK markets are closed. So far this morning there is not a great deal happening in the pre-market futures although one would expect that to be the case with the UK markets closed. Things may get going when the US markets open later today. The Nikkei though has continued with weakness from last week and is lower again today.
It may prove to be an interesting week ahead for stock indexes as the reaction following the long weekend and last week’s weakness will likely point to short term direction. In these circumstances the markets often continue in the way that they open, so Monday’s open may point the way for trading for the rest of the day. The question that will be on all market participant’s minds will be whether we have seen a top in the markets for the neat term, especially with seasonal May weakness only 3 weeks or so away. For now though there is no arguing that the long term trends are still up for stocks and considerable further chart damage will be required for that to change.
This week’s financial spread betting update begins with: The past week has seen stocks finally correct somewhat, something that has been on the cards for the past few weeks. However, the long term trend is still very much up across the stock indexes and each of the indexes we trade remain above their 50 day moving averages and still a long way above their 200 day MAs..……continue reading by clicking here
Good trading
Phil Seaton
P.S. Click here to find out more about our financial spread betting system
P.P.S. Click here for more information on our dedicated forex system.
Financial spread betting update 5th March 2012
This week’s financial spread betting update is now available and can be read by clicking here.
Stocks have begun the week with a continuation of the weakness seen at the tail end of last week. S&P 500 futures are just edging below the lower trend line of the bull channel that we have been writing about recently so we may be going to see some further weakness in the short term for stocks. As we cover in this week’s update, we need to see what happens with today’s action and closing price in order to see if last week’s highs will be the top for the time being. A long down candle on the Nasdaq 100 would complete an evening star reversal pattern, which would be bearish for the short term.
The dollar is gaining ground this morning particularly against the commodity based currencies and is also higher against the Pound and the Euro which both made reversals in the direction of the long term trend last week and may yet head lower. If stocks do continue to falter we will likely see some further dollar strength and this will have an impact on commodities. Gold has moved back below $1700 and will likely test last week’s lows at $1688. The trend remains down for gold.
This week’s financial spread betting update begins with: The past week has seen stock indexes continue to climb higher but there are signs that momentum may be beginning to wane. The dollar has also advanced for the week overall and commodities have been mixed. With a few exceptions volatility is at much lower levels than it has been for much of the past 2-3 years and many markets are trending well.
Long-term trends are up for stocks and mixed for the dollar and for commodities.……continue reading by clicking here
Good trading
Phil Seaton
P.S. Click here to find out more about our financial spread betting system
P.P.S. Click here for more information on our dedicated forex system.