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