Financial Spread Betting Update 20th June 2011

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

In early trading this morning stocks and commodities are sharply lower, continuing the short-term weakness from last week. As we wrote in this week’s update, some of the stock indexes that we trade at LS Trader have now had a change of long term trend to down and that the others, namely the S&P 500 and the German Dax may soon head further down to test long term support.

Crude has continued lower having crossed below and indicator that many watch to discern the long-term trend, the 200-day simple moving average. This is the first time that Crude has fallen below the 200-day simple moving average this year.

The dollar is higher this morning virtually across the board as short-term strength continues. This has seen the Euro decline but whether it was fall as far as $1.40 support remains to be seen. As mentioned in this week’s update, the target for the dollar index to the upside is 7700.

Another sector to benefit this morning is the interest rate futures sector, with the 30 year T bond being the prime beneficiary. The long term trend remains up across the interest rate futures sector with some of these markets at their highest since November.

This week’s financial spread betting update begins with:

Stocks continue to weaken with the long-term trend now changing to down for some of the indexes. The dollar has also continued to gain against many of the majors and commodities have continued to look weak. The long term trends are mixed for stocks and commodities but still down for the dollar..…continue reading by clicking here

Good trading

Phil Seaton

PS. Click here to find out more about our financial spread betting system

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