Opening Report – 13 December 2013

1. Introduction

More unseasonal action and time is running out for a decent Xmas rally. There are tides in markets and one such is the positive psychology at this time of year but when that tide is over-ridden it means there are stronger negative tides making themselves felt – hence my view that 2014 is not going to work out well – we also have a long term chart from Bill Adlard – see below – showing  even more potent resistance on the Dow at current levels. Btw you can also count a clear five waves up from the 1930s low – I will mark these waves on request in the weekend video clip.

Bill’s comment: The conventional way to do Gann lines is from a low to a high or high to a low. But over long periods of time the multiples become so great that it gets a bit meaningless. To get round this I started drawing them from high to high, in particular from the 1929 high to date. Here are the results – very interesting indeed, with a massive cluster where we are now. It’s very interesting how these lines frame the high and low of the 1970’s. (ps. Bill is also an excellent guitarist and if you like Blues then search “Bill Adlard” on You Tube!)

2. UK FTSE 100

FTSE is now at 6437 down 7 points. Yesterday we discussed the set-up on FTSE and the chart below shows how we now have wave v/C in place (you can also count five waves for this) and we should be close to a low now. [Signup for the full trading plan]

3. The German DAX

The DAX is now at 9026 up 9 points. The DAX saw a false break below 9000 yesterday which is a positive [Signup for the full trading plan]

4. The US DOW

The Dow closed yesterday at 15739 down 104 points with the spread betters now quoting it at 15779 (+40). Whilst FTSE has a positive pattern, but as yet unconfirmed, the Dow still looks negative [Signup for the full trading plan]

5. The Japanese NIKKEI DOW

The Nikkei Dow closed at 15403 up 61 points. Wave 5 is still due to take us above 16000 but we may then see selling [Signup for the full trading plan]

6. US T-BOND

Bonds continue to trend down [Signup for the full trading plan]

7. Gold ( UK cash)

Gold is re-testing again [Signup for the full trading plan]

8. FOREX

GBPUSD ha fallen a little and GBPEUR looks to be due a corrective rally.

Opening Report – 06 December 2013

1. Introduction

We now have five waves down on the Dow with NFP today.

2. UK FTSE 100

FTSE is now at 6515 up 17 points. 5 waves down here also but from Friday’s high and counting as a possible wave C. Two weeks now until expiry with some upside due.

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3. The German DAX

The DAX is now at 9128 up 44 points. The DAX has built a base of sorts.

4. The US DOW

The Dow closed yesterday at 15821 down 68 points with the spread betters now quoting it at 15861 (+40). The Dow has now seen five waves down, see chart below, which is a possible trend change signal.

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5. The Japanese NIKKEI DOW

The Nikkei Dow closed at 15299 up 122 points. A bit of a sell-off here also which counts as wave 4 before more upside.

6. US T-BOND

Bonds fell back again and are making new lows for this move.

7. Gold ( UK cash)

Gold is moving to again test $1200 (but very slowly) and a C wave rally remains on the cards.

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8. FOREX

GBP has pulled back a little but not much to go on as yet.

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