Stock markets tanked across Asia on the news and DAX and FTSE 100 are down -2.2% and -1.7% respectively. Virus developments are adding to the risk off backdrop, with parts of Europe already back in lockdown and others once again contemplating wide spread closures over the holiday period as booster programs are not fast enough to deal with the Omicron variant. US growth forecasts are already being revised down in some quarters and without the prospect of considerable fiscal support, it will remain up to the central bank to keep the economy afloat, which will likely mean a less aggressive tapering schedule from the Fed. European Open – The March 10-year Bund future is up 36 ticks, the 30-year has rallied 90 ticks, alongside broad gains in US futures, amid concern that Biden’s spending package won’t get sufficient support to go ahead after all. Overnight – ECB’s de Cos: Rate hikes are unlikely in 2022, NZD Trade balance improves significantly and consumer sentiment surprisingly holds up. Gold – Another volatile day on Friday, touched 1815 but closed at 1798. Holds over $1800 currently.įX markets – EURUSD 1.1250 from 1.1235, USDJPY 113.40 from 113.70 close on Friday, Cable closed at 1.3234 down again today to test 1.3200, after more political turmoil, as Brexit Minister Lord Frost resigns and more photos of Tory staff (including Jonson) breaking lockdown rules. USOil – slumped over -2.79% to close at $70.14 and is down another $2.50 again today to $67.50 Chile (worlds biggest Copper producer) elects young left-wing President (Boric). Other market news – China cuts borrowing costs, Biden’s $1.75tn build back better bill will be blocked by Manchin. Catalyst – OMICRON – lockdowns and further restrictions in Europe, health systems stretched.
Risk off starts the new week with JPY in demand. USD (USDIndex 96.60) rallied on Friday from 95.80 lows and holds gains to start the week. Stocks sank again on Friday and are lower today, Yields also fell and remain down. Oil tanked -2.79% Friday to 2-week lows, GOLD rallied and cooled but holds $1800.
Market Update – December 20 – Risk-Off greets the start of Week 51. Would it be a surprise if I did a review on the book or dvd was not impressed? NOPE. Would I ever spend a penny on these other teams? NO. Guess what? I don't think I would be impressed with a book, DVD, etc.
I bleed orange and brown through and through.
you think candlestick analysis is no good, yet you spend the money to purchase a book on how to trade with candlesticks? Anyone else see the irony here?Īs you can tell from my screen name, I am a Cleveland Browns fan.
Why bother spending money if you don't believe the methodology can work? That makes absolutely no sense. It's true people - if you think candlestick analysis is 'arbitrary' - then guess what? A BOOK DEDICATED TO TRADING CANDLESTICKS MAY NOT BE YOUR CUP OF TEA. If you do like them, the book at least "looks nice" with it's big letters and charts. Worst book about trading that I have seen so far, but that's only because I believe that candlesticks are completely arbitrary.