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

During the past week we saw an initial continuation of the stock market rally followed by failure to move higher at resistance and then a sharp reversal. We look at what may happen next for the S&P 500 focusing as ever on the long term trend and the impact that major moves from the S&P 500 on other markets.

As usual in addition to our stock market focus we look also at commodities, in particular Gold and Crude oil and the key levels to watch out for in both of these markets. We also look at the continuing rally in interest rate futures as traders seek safe haven investments.

On the subject of safe haven investments, the Japanese Yen has rallied to new highs for the year and the Swiss Franc has also risen to its highest level in almost 6 months, whilst the US dollar has continued to slide. Recently the dollar has gained when stocks have fallen and that inverse relationship seems to be abating at present as the US dollar index has fallen to new 10 week lows. This decline has been to the benefit of the Euro, which briefly touched $1.30 last week. We wrap up our forex focus with a look at the British Pound.

This week’s LS Trader financial spread trading update begins with:

The past week saw the recent stock market rally run out of steam and reverse sharply on Friday, which may be a sign of things to come.….continue reading by clicking here

Good trading

Phil Seaton

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

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

This Monday may be a relatively quiet trading day as the markets are closed in the US for the Independence Day holiday so we can expect another light volume trading day. One of the advantages of UK spread betting is that we can still place trades on days like today, albeit that there may not be much in the way of activity.

This week we continue our focus on the S&P 500, which has finally broken down through major long term support, giving a long term trend change to down. This implies weakness ahead for the stock markets long term and is a move that is in line with our long term bearish outlook for stocks and the economy. At LS Trader we have been saying for quite a while that our long term indicators are pointing south for the stock markets and may be headed considerably lower between now and the end of the year. Trading in the direction of the long term trend is one of the spread trading strategies that we employ at LS Trader.

We also look at Gold, which pierced short term support last week at $1200 and may be poised for a substantial move. There was weakness in the metals and energy sector last week and some of these markets particularly Crude oil may test support this coming week.

The forex markets have once again been active and the short term trend for US dollar weakness has continued with gains for the British Pound, Euro and Yen after the dollar index fell to its lowest level in several weeks and broke through short term support. The Yen advanced to its highest level against the dollar this year, suggesting a flow towards safer assets.

This week’s LS Trader financial spread betting update begins with:

The past week has seen the stock markets break down through support and give a long term trend change to down.….continue reading by clicking here

Good trading

Phil Seaton

PS. You can sign up for a risk free trial of the LS Trader financial spread betting system by clicking here. The system comes with a 30 day no questions asked money back guarantee.