Last week was a relatively light volume week for the stock markets as expected due to the holiday in the US. This week will likely see a return by traders to their trading desks and should lead to a considerable increase in volume. The week ahead is likely to give us a better idea of short term action for the stock markets than we got from last week in spite of the impressive rally.
In this week’s spread trading update we take another look at the S&P 500, which had a considerable rally from support. We look at the levels to watch out for next for this market and how to pay attention to the all important long term trend.
We also look at the ever popular Gold market and look at how last week’s patterns may influence market direction this week, as well as taking another look at Crude oil and the best way to play the crude oil market.
We focus also on the forex markets and in particular the 3 main markets that we trade which are the US dollar index, the British Pound and the Euro. Last week’s action shows some indecision in the Pound and the Euro and possibly some support for the Dollar as well as a tightening of the price ranges in these markets, which points to some bigger moves ahead.
This week’s LS Trader financial spread trading update begins with:
The past week saw the stock markets rally sharply from support during a light volume holiday week in the US. It will be interesting to see.….