Opening Report – 10 April 2014

1. Introduction

The strong rally on FTSE has again confused the picture.

2. UK FTSE 100

FTSE is now at 6682 up 46 points. The decline now looks corrective (a-b-c) and this rally looks impulsive

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3. The German DAX

The DAX is now at 9574 up 68 points. The DAX is looking more positive and 10,000 again looks odds-on! We have now seen the pullback I mentioned.

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4. The US DOW

The Dow closed yesterday at 16437 up 181 points with the spread betters now quoting it at 16447 (+10). There remains a potentially negative pattern…

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5. The Japanese NIKKEI DOW

The Nikkei Dow closed at 14300 down 306 points. This decline is a negative…

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6. US T-BOND

Bonds continue to correct.

7. Gold ( UK cash)

$1300 is now support and reference point for buyers.

8. FOREX

GBPUSD and GBPEUR continue to trend up. With QE now looking more likely in Europe the Euro may continue to weaken…

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Opening Report – 01 April 2014

Fairly quiet on equities and a BUY signal from Gold.

2. UK FTSE 100

FTSE is now at 6623 up 25 points. 6500 is still key support and the lows seen there constitute something of a garbage bottom…

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3. The German DAX

The DAX is now at 9595 up 39 points. The DAX is looking more positive and 10,000 again looks odds-on!

4. The US DOW

The Dow closed yesterday at 16457 up 134 points with the spread betters now quoting it at 16472 (+15). The Dow is also trying to make up- its mind which way to go.

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5. The Japanese NIKKEI DOW

The Nikkei Dow closed at 14791 down 35 points. A bit more encouraging.

6. US T-BOND

Bonds continue to correct.

7. Gold ( UK cash)

Gold has now seen a buying spike below $1300 and this is a buy signal. A re-test is likely…

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8. FOREX

GBPUSD and GBPEUR are now seeing a solid rally.

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