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S&P 500 (Mar 13) INTRADAY Review Yesterday we called the market very well as we had a short strategy for the afternoon using the 2012 high of 1468 as a resistance entry. This was an aggressive call as the S&P moved down to break this level as I was typing the report. This then presented a great classic trade as a brief pullback after the cash open tested the pivot level which was just 4 ticks below 1468. So aggressive entries here worked very well in what then lead to a downtrend

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The currency pair traded in a down trend for the first half of yesterday’s

Forecast for 16th January 2013 Hang Seng CE Index Jan contract Hang Seng China Enterprises Futures struggling in a very over bought market and we seem to be running out of momentum. We did manage to break above 12060 for test of the next resistance level at 12117 and topped out at 12106. The failure to close above the high of the past 3 sessions however, indicates we may be in need of some profit taking before we can embark on the next leg higher. A strong chance we pull back to 11889

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Hang Seng CE, Hang Seng, JGB, Kospi, Nikkei, Straits Times

Review: CHF on a small rollercoaster ride EURCHF: For the first time in more than a year, EURCHF has traded close to 124. Since 9 January, CHF has weakened markedly by no less than 2.65%. The US: Both Obama and Geithner has warned that if the debt ceiling is not raised, it will have a strong, negative impact on the financial market. The political fear mongering has already started even though the deadline is not until early March. We expect the rhetoric to be intensified in January and

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No changes in recommendations due to CHF weakening

EUROSTOXX 50 (Mar 13) INTRADAY Review The Eurostoxx gapped higher at yesterday’s open, filled the gap but was not able to sustain further upside momentum beyond the initial morning high print. Having set yet another new high for the year, the index sold off into the middle of last Thursday’s / Friday’s trading range, once again finding support at the 2,700 handle. Yesterday’s low also confirmed a short-term trend that has been in place since the lows of last week and is more clearly defined on

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The Eurostoxx gapped higher at yesterday’s open

Forecast for 15th January 2013 WTI Light Crude Feb contract WTI Crude is just hovering below 94.70 as we start to run out of momentum. We meet strong resistance from the daily 23.6% Fibonacci, 9 month down trend line and 100 week moving average just above at 94.96. We exit longs therefore in the 94.65/95 area and try shorts with a stop above 95.35 and we will then buy back in to longs for continued strength to 96.17. Yesterday we pulled back to our first target of 93.26 and there is a risk we

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WTI Light Crude, Brent Crude, Gasoil ICE, Natural Gas

Forecast for 15th January 2013 Spot Euro EURUSD has made it to 1.3404 but has failed to hold above the 100 week moving average at 1.3387. Although we are in a solid uptrend we may need to pull back a bit today before the next leg higher. Look for a test of support at 1.3308/00 and a bounce from here. However longs need to keep stops very tight below here as a break then targets 1.3249. Exit all shorts and buy in to longs expecting a low for the correction here with a stop below 1.3225.

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Spot Euro, DJIA, Eurostoxx, FTSE 100, E-Mini S&P, Dax

Forecast for 15th January 2013 Straits Times Index The Straits Times is finding the 3237/38 highs tough to beat at this stage as we exited longs and expected to see prices drift lower to 3200/3195. We did test this support yesterday for a chance to exit shorts and buy back in to this market. Stop were not triggered as we did not trade below 3185. If we do break this level today however this keeps the pressure on for 3166 as the next target. Exit all shorts and try longs here looking for a

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Straits Times, Topix, Hang Seng CEI, Hang Seng Futures, JGB, Kospi, Nikkei

Market Review – 14/01/2013 23:20 All times in GMT Dollar retreats from 30-month high against yen on profit-taking The greenback retreated from 30-month high against the Japanese yen on Tuesday on profit-taking amid speculation that the Bank of Japan is likely to ease monetary policy more aggressively in near future. Versus the Japanese yen, the greenback extended recent upmove to a fresh 30-month high at 89.67 in Australia on speculation that the Bank of Japan will take aggressive measures

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Dollar retreats from 30-month high against yen on profit-taking

S&P 500 (Mar 13) INTRADAY Review It was a very quiet week last week in terms of significant economic data. The Chinese trade balance numbers, Alcoa’s Aluminium demand forecasts for 2013 and strong Spanish and Italian bond auctions were the catalysts for a continuation of the recent upward trend. The S&P 500 breach the 2012 high at 1468 as Friday’s session got underway and therefore hit prices that haven’t traded since January 2008. Our long entry level on Friday worked very well with

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The S&P 500 breach the 2012 high at 1468 as Friday’s

Review: It’s all about EUR EURUSD: Right now everybody is talking about EUR. EUR was the main theme in all overnight market comments. This strong focus on EUR is a reminder that investors should begin to be ‘cautiously sceptical’. Today’s chart illustrates that EURUSD is nearing the upper part of the so-called wedge formation. The highest trade today was at 134.04, which is only 15 pips away from the important point of resistance at 134.19. The level at 134.19 amounts to 61.8% of the movement

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It’s all about EUR

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EURUSD Consolidates the Positive Structure

EUROSTOXX 50 (Mar 13) INTRADAY Review The first full trading week of the new year culminated with gains for European equity indices: the Eurostoxx futures were up 0.41%, closing Friday’s session on the highs of the week, the IBEX 35 gained 2.71%, the FITSE MIB gained 3.2%, PSI 20 gained 4.62% and the DAX closed Friday’s session with a weekly loss of 0.78%. The Eurostoxx consolidated some of last week’s staggered gains throughout the majority of Friday’s session and, with the 2,700 handle

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The EUR/USD made new highs for the year in Friday’s session

Forecast for 14th January 2013 WTI Light Crude Feb contract WTI Crude stopped short of the 94.96 target last week as we topped at 94.70. Here we meet strong resistance from the daily 23.6% Fibonacci, 9 month down trend line and 100 week moving average. We exit longs therefore on the approach once again today and try shorts with a stop above 95.35 and we will buy back in to longs for continued strength to 96.17. If we cannot break 94.96 again at the start of this week as expected, we are

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WTI Light Crude, Brent Crude, Natural Gas