Opening Report – 15 May 2014

1. Introduction

Still pretty quiet with breakouts on the cards but not much happening as yet – there again it is expiry tomorrow.

2. UK FTSE 100

FTSE is now at 6882 up 4 points. FTSE made an attempt on 6900 but is now back where it started from – fairly typical expiry action.

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3. The German DAX

The DAX is now at 9760 up 5. 10,000 remains on the cards – today the DAX saw a failed break above 9800 but is also back where it started from.

4. The US DOW

The Dow closed yesterday at 16613 down 100 points with the spread betters now quoting it at 16613 (flat). The Dow also failed at new highs yesterday, clearly a trend. With expiry tomorrow these moves may be important.

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5. The Japanese NIKKEI DOW

The Nikkei Dow closed at 14298 down 107 points. Another leg down here is a definite possibility.

6. US T-BOND

Bonds continue to correct.

7. Gold ( UK cash)

Gold is looking positive – it may be time to think about positioning.

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8. FOREX

GBPEUR continue to trend up but GBPUSD has taken a hit and could be the start of something.

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