Financial Spread Betting Update for 16 August 2010

This week’s financial spread betting update is now available and can be read by clicking here. We cover both markets that have been the focus of our recent series of spread betting strategies, gold and the S&P 500. Both of these markets could be setting up for decent moves and will be worth watching this week.

It’s been another volatile week for the markets and there have been decent moves in stocks, commodities and currencies. We’ve also seen a large move in the VIX, which is a measure of volatility, with the VIX rising by 20.7% during the past week.

Once again, the resistance level at 1229 on the S&P 500 held firm and stocks finally moved lower from here, breaking out of the recent trading range and resuming the longer term downtrend. As of Last Friday’s close, everything is pointing to lower levels for stocks at present but of late Monday’s have been fairly strong so we may have a cleared picture for the week ahead after tonight’s close.

Interest rate futures continue to do well, with new contract highs seen across the board. From a trend following perspective, interest rate futures have been the best trending sector for quite a while with a steady continuous uptrend seen. We’ve been riding this trend higher since the initial breakout back during the first week of May.

This week’s financial spread betting update begins with:

Stocks made a breakout to the downside, in the direction of the long term trend and the US Dollar rose against the major currencies, reversing the recent trend..…

Good trading

Phil Seaton

PS. You can sign up for a risk free trial of our proprietary financial spread betting system by clicking here. The system comes with a 30 day no questions asked money back guarantee and covers our spread betting strategies for each of the stock, commodity and forex markets discussed above.

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