Financial spread betting latest news

This week’s financial spread betting update is now available and can be read by clicking here.

The coming week promises to be an interesting one as we wait to see how the market events of last week impact the markets in the days ahead. US stocks last week failed once again to break out to new highs, with the S&P 500 coming to within a tick of last month’s high before falling back again. A successful breakout would complete a bullish set up and may well lead to a strong rally higher over the coming months, but repeated failure to clear resistance may also lead to a pullback, at least to 1300 and possibly lower. Therefore the stock indexes, in particular US indexes remain at a critical junction.

Elsewhere we have seen the dollar continue to fall, virtually across the board and this has helped commodity prices continue to soar higher, with several commodity markets either at or near all time highs or multi year highs. As yet there are no signs of a reversal of the currency or commodity trends but we will have to wait to see what happens over the coming days and weeks. The current long term trends remain very bullish for commodities, equally bearish for the dollar and mixed for stocks.

This week’s financial spread betting update begins with: Commodity prices have continued to soar on the back of an ever-declining dollar, which is inflating the prices of dollar denominated commodities. For much of the recent past there has been an inverse relationship between stocks and the dollar but this past week’s dollar weakness has not translated into additional stock index strength as stocks have run into major resistance, keeping them in check for now..…continue reading by clicking here

Good trading

Phil Seaton

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