Presently we have a 2 day island top in the Spu’s & Nasd 100.
This is a bearish formation. We need a close today under 2039
to confirm more Risk Off.
Closing over the gaps in the Spu & Nasd 100 will be needed to negate the bearish chart pattern.
I’ll sell the Indices at the bottom of the gap @ 2048-2049.50 with a couple of handle stop
to see what it gives me.
Keep in mind that today will be a time frame trade and the board can change after London’s close.
The January 1 (mutual Fund Day) saw all the Fund buying late day.
I’ve been very friendly to the bonds on breaks.
I have the same view of the Bunds which should trade closer to 165.00..
163.50 is a level you can mange your risk at.
EUR/GBP has broken out to the upside on a weekly and monthly chart.
I haven’t made money in that cross in 40 years so I’m not about to chase it now,
however look for this to be an ongoing trend into the Brexit vote.