Opening Report – 20 August 2013

Patterns remain negative for now.

2. UK FTSE 100

FTSE is now at 6400 down 65 points. This decline counts as a third wave on FTSE so it may stay with us for a while…

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The DAX is now at 8247 down 119 points. Not looking good here either.

4. The US DOW

The Dow closed yesterday at 15010 down 70 points with the spread betters now quoting it at 15005 (-5). The bear count remains valid for now – see chart below…

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5. The Japanese NIKKEI DOW

The Nikkei Dow closed this morning at 13396 down 361 points. Still no move above 15000 and this decline remains of concern and the chart in subscriber’s corner gives us key parameters…

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Bonds remain highly negative

7. Gold ( UK cash)

Gold is looking due another leg up with one target around $1420 – see chart below…

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GBP/USD is getting uncomfortably close to the stop area.

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