Market is not expecting much from Mr Bernanke this evening judging by yesterday’s price action on the S&P. In fairness it wasn’t helped by negative tones from Europe which have continued this morning.

We are now sitting close to the bottom end of all ranges S&P 1395   Euro 1.2485   Gold Continue Reading →

Normally we rally into Ben Bernanke speaking but the market has lowered it’s expectations this time around. The S&P is firmly capped around 1412 and indeed sold off yesterday afternoon. Gold also took a hit, normally the big gainer from QE. Euro is sidelined.

I think the downside for the Continue Reading →

A range bound market yesterday and we can expect the same today.

Euro 1.2605 on the top and 1.2535 shouls hold on the downside.

S&P 1412  and 1404 should be the range

Gold 1675  1655

The only possibility today is a slow drift higher on the S&P into Friday’s Jackson Continue Reading →

Markets were pretty much range bound yesterday. Lower forecast for Japan broke the range overnight on the Euro. Gold got hit late in US trading over concerns about QE3.

Really we have to wait and see what we get at Jackson Hole on Friday but expectations are diminishing.

S&P now Continue Reading →

This is the last week of summer. We are heading into a critical time for the markets over the next three weeks. Starting with Jackson Hole on Friday. Followed by the ECB plan for bond buying in early September.

Volatility is comming that’s for sure. Today however is a bank Continue Reading →

Some water poured on the QE hopes yeaterday. That combined with the end of the Stock rally caused a large selloff . It seems that 1425 is too high for the stock market, we may have seen the high for the year there. We are in for a busy time, Continue Reading →

Effectively thats the deal. The FED minutes hinted at more QE if the economy does not improve dramatically. QE means lovely cash to go out and buy equities and commodities. In reality it is supposed to feed into the economy to the SME sector to promote growth but that won’t Continue Reading →

Well we certainly broke out to the upside yesterday. Led by expectations of a Draghi fix on Sept 6th. Market got itself into binge mode across the board. Euro, S&P, Gold, silver, Oil all heading higher. We hit some impressive levels 1.2485 on the Euro and 1425 on the S&P. Continue Reading →

Yesterday was another down/up and finish unchanged, kind of day. We are getting used to them. The market is calm because of the expectation that the ECB will do the necessary when required i.e. buy bonds. There is a lot of confusion about how and which bonds they will buy. Continue Reading →

The advanced course starts today in IIFT, so we are back to full trading conditions. The last few weeks have been poor for trading so we are hoping for better this week. Volume will increase as more players return from holidays. The S&P rally has been hard to go with as the Continue Reading →

Talk about a turn around. Yesterday proves why trading in August is really tricky. Market put in a huge rally out of nothing really.

S&P has put in a new year high. Euro reversed losses and returned towards the 1.2380 high.

Markets now look really good this morning but rather than chasing Continue Reading →

The summer rally is fading. We have about 10 days before the market will start concentrating on some serious issues.

ESM is going to come to the fore with regards the legal challange being brought by Ireland to the European court. Greece is close to running out of money.Spanish bond Continue Reading →

We are seeing nothing more than stop runs on then Euro. Thin markets allow this sort of price action. Fundamentally nothing has improved. It is hard to trade these markets as the upper end was broken without much news to drive it.

Euro tops are now 1.2400 and 1.2440  support Continue Reading →

Nothing has changed. Good rally on Friday but the upper levels held. Expect more of the same today. We are settling into a tighter range now and will probably remain pretty static for the last few weeks of August. Nothing much on the economic calander so we are restricted to Continue Reading →

The market retreated yesterday on comments that the German’s are not automatically going to backstop any Euro zone problems. The recent rally is based on Draghi,s comments that the ECB will do everything to save the Euro. The reality is they will do some bond buying but that will be Continue Reading →

Real summer market now. Very tight trading ranges.

Euro 1.2385 on the top which is the 200sma on the 15min chart and the old 1.2330 on support.

On the S&P 1405 and 1390.

Nothing else to say really . Trade the ranges.

This is not an easy market to trade. There was no follow through on the rally yesterday. Indeed it ran out of steam as Spanish bond yields started to rise again.

Euro topped out at 1.2440 and that is now serious resistance. Support is now at 1.2365 Pivot and then Continue Reading →

Despite Draghi’s grand plan to buy bonds at the short end, he has not fixed the Euro zone crisis. Only debt forgiveness will do that.

We are however in what we call a severe bear squeeze. Draghi, plus the non farm payrolls have given the bulls the ball for the Continue Reading →

It is quiet clear, it is the old Bundesbank that is running the ECB. Even Mr. Draghi forgot that in his moment of madness last week in London. Was not able to deliver yesterday.

We are back to Spain, and when they will ask for a bailout. Spanish bond yields Continue Reading →

Fed chairman made a conditional promise of action. Basically they will do something if growth and unemployment don’t improve. Roll on to Friday’s Non Farm payroll then. Very dissapointing, but the market wasn’t expecting QE from Bernanke  as much as action from Draghi today. The market sold off but nothing Continue Reading →