Opening Report – 16 May 2013

Gold is finally seeing the expected pullback and £/$ looks increasingly like the secondary peak is in – it is expiry tomorrow.

2. UK FTSE 100

FTSE is now at 6698 up 4 points. FTSE continue to power ahead, no further comments since yesterday’s video clip. [Read the full report]

The DAX is now at 8341 down 20 points. The DAX blew away those possible five waves down and we never saw acceptance below 8220. [Read the full report]

4. The US DOW

The Dow closed yesterday at 15275 up 60 points with the spread betters now quoting it at 15240 (-35). The Dow continues to head towards 16000 – see chart in subscriber’s corner [Read the full report]

5. The Japanese NIKKEI DOW

The Nikkei Dow closed this morning at 15037 down 58 points. The Nikkei is seeing some upside acceleration. We remain LONG of Japan  [Read the full report]

6. US T-BOND

Bonds are heading down again [Read the full report]

7. Gold ( UK cash)

Gold is falling back and we are seeing the expected test of $1321, if you followed my short term suggestion using Xtreme Stop you will now be doing well. [Read the full report]

8. FOREX

GBP/USD has fallen back and the secondary peak may well be behind us. I would like to see a decent rally with the intent to place an Xtreme Stop below the low [Read the full report]

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Opening Report – 8 May 2013

£/$ remains right on the key 50% level and the Dow looks set to see 15000 again.

2. UK FTSE 100

FTSE is now at 6525 up 4 points. FTSE looks to be near the end of a five wave sequence so we are due some sort of pullback [Read the full report]

The DAX is now at 8122 up 10 points. New all time highs here (above 8155) are very much odds on, but we do have a very short term double top [Read the full report]

4. The US DOW

The Dow closed yesterday at 14968 down 5 points with the spread betters now quoting it at 14958 (-10). The Dow saw 15000 but the pullback is muted [Read the full report]

5. The Japanese NIKKEI DOW

he Nikkei Dow closed this morning at 14153 up 459 points. The Nikkei is seeing some upside acceleration [Read the full report]

6. US T-BOND

Bonds fell back sharply last week and more yesterday [Read the full report]

7. Gold ( UK cash)

Gold made a new high and although the rally off the lows can be counted as a “five” it counts more clearly as an A-B-C [Read the full report]

8. FOREX

GBP/USD has hit the 50% retracement level at $1.56 and is staying just below that level for now [Read the full report]

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