The Earning Season continues to support the rising markets. Twitter has presented exceptional results, beating analyst estimates and today the market will be impacted with a day filled with relevant news. Geopolitics and the direction of U.S. interest rates are the major risk factors.
I enjoy watching and reading the financial news throughout the day and observe the change in the headings and opinion from Bullish to Bearish and vice versa.
Today I was presented with a Bullish morning and a Bearish afternoon … A better definition for this: “A cloudy day”. :-)
After the significant slump from last week it’s difficult to find buyers at the major Indexes, so we will most likely observe a continuation of the decline, as we still haven’t reached a major support.
Stocks have been consolidating throughout the day and at the end of the day, by 18:30H they slided significantly. The daily range of prices have been falling, and the market is getting ready for the next move. DAX30 Index (Spot Market) ended today’s session with an “Inside Day”, while Dax Futures broke yesterday’s minimum by 18:30h, i.e., two hours after the close of the European session. Dax Futures priced @ 9186.50 at European Market Close (16:30h), it reached a minimum @ 9080.5 and Closed @ 9101.0, ie, 85.5 points below the Spot Market.
With this major difference between Spot and Futures, tomorrow we will certainly be a very interesting day in the markets.
The correct interpretation of the relevant news that will impact the markets tomorrow, can help us to increase our trading success
Major Stock Indexes were little changed and closed near the opening, creating a “Doji” Daily Candle.
The slump occurred since the end of July, did not stop, not evan to “breath”, although not yet been touched we are close to major supports in all Indexes, the uncertainty of a “Doji” Candle, should not be interpreted as a potential unambiguous inversion, since there is still room for the decline.
At these levels, buyers begin to appear, so we will probably be presented with an increase of the Intraday noise.
- Yesterday we witnessed an increase in tensions in Ukraine.
- In the last two days, important companies have announced disappointing results.
- Argentina defaulted
- Creation of “Novo Banco” in response to the collapse of Banco Espírito Santo SA.
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