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Bernanke testimony dampens market mood

Bernanke testimony dampens market mood

10 mins. to read

The US market fell off its highs, Asian stocks are down overnight and European futures are down because of Ben Bernanke’s comments to Congress yesterday which gave little indications of significant Federal Reserve intervention in the short term. The volatility is likely to continue today and next week as the European problem remains unresolved and…

Furious Plus shareholders claim management have misled the market

Furious Plus shareholders claim management have misled the market

5 mins. to read

Shareholders in Plus Markets, the embattled junior stock exchange, say they feel misled by the company’s management over its financial health. The comments come amid growing investor anger over the proposed sale of the stock exchange to interdealer broker Icap.Furious Plus investors claim they were ‘misled’ Plus Markets announced it was winding down on May…

4 charts to consider

4 charts to consider

3 mins. to read

Four charts shedding light on:- i) Spain 10-year yields heading towards 7%ii) BRICS are insufficient to hold up the global economyiii) A coordinated central bank FX swap operation is unlikely at this pointiv) Broad-based deterioration in eurozone macro dynamics   Source of image – Bloomberg 1. Spanish bond yields: 7% beckons As Spain’s 10-year bond…

key technical levels & MARKET TRENDS

key technical levels & MARKET TRENDS

1 mins. to read

Market Trends Cash prices except Crude Oil (July) S&P 500 EUR/USD Gold Crude Oil Trend Up Down Down Down Buy or sell Buy Sell Sell Sell Trend change below 1310 above 1.2600 above 1583 above 92.2 Probability of trend change 50% 50% 50% 50%   Trends over the next 1-2 days. The trend is likely…

GBP/AUD TECHNICAL OVERVIEW

GBP/AUD TECHNICAL OVERVIEW

1 mins. to read

Good news over the weekend from Greece sent the futures higher this morning and major European indices opened with a gap up. It’s a US holiday today, so while our friend’s stateside take a rest for Memorial Day European trading may be a little subdued. last Thursday I gave a technical argument for a bullish…

key ftse technical levels

key ftse technical levels

0 mins. to read

Cash prices 7th resistance 5820 Previous high 6th resistance 5735 Previous resistance line 5th resistance 5603 61.8% Fib retracement 4th resistance 5557 200-day moving average 3rd resistance 5409 Previous high 2nd resistance 5385 Yesterday’s high 1st resistance 5375 Previous support line 1st support 5351 55-90min moving average 2nd support 5312 Yesterday’s low 3rd support 5268…

FTSE TECHNICAL GUIDANCE

FTSE TECHNICAL GUIDANCE

0 mins. to read

If you are short: 1st resistance at 5389 (55-90min moving average). Weak stop loss above that level. 2nd resistance at 5409 (previous high). Fair stop loss above that level. 3rd resistance at 5557 (200-day moving average). Strong stop loss above that level. If you are long: 1st support at 5263 (yesterday’s low). Weak stop loss…