Opening Report – 21 November 2013

1. Introduction

The Dow fell back but this still feels like a correction setting the scene for a rally into Xmas and the New Year.

2. UK FTSE 100

FTSE is now at 6670 down 11 points. We could be seeing an important low today.

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3. The German DAX

The DAX is now at 9166 down 35 points. The DAX may be seeing the same and this morning’s Zeitgap trade may be worth running for those of you who trade this system.

4. The US DOW

The Dow closed yesterday at 15900 down 66 points with the spread betters now quoting it at 15915 (+15). The Dow sold off and may need one more low.

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5. The Japanese NIKKEI DOW

The Nikkei Dow closed at 15365 up 289 points. 15000 has cracked – looking good (another third wave!).

6. US T-BOND

Bonds had a very bad day yesterday.

7. Gold ( UK cash)

Gold is trying to rally but it remains unimpressive.

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8. FOREX

GBP is testing key resistance against both USD and EUR and is stable for now which is a positive.

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