For this week, we will be looking at an overview of the weekly performance of the global markets (equities, forex, Gold, ETFs, etc), followed by some detailed chart analysis of our top picks in the stock and forex markets. Click below to unlock for free! 😀
Weekly Market Updates & Hands-free Trading (HFT) Opportunities for the Week Ahead:
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As you can see from the one week performance comparison, equity indices were mostly bearish, and the VIX has increased significantly, expecting more volatility. This is usually a sign of weakness in the equity markets.
The European markets especially have taken quite a hit, with the DAX, FTSE 100, CAC and EuroStoxx all declining about 5-7% over one week.
The USD has corrected about 1.1% this week, after consecutive weeks of advance. Will it continue upwards after this correction?
Gold had a slight rebound this week as well, but commodities are still bearish, with the CRB index (Lyxor Cmdty 10US$ ETF) declining 2.2% over the week, mainly due to declining energy prices.
The Synapse HFT Stock Scanner
Banking stocks have been very bullish, and DBS has been in a steady uptrend, with our Synapse HFT Stock Scanner flagging out multiple buy signals as early as June this year. SGX has also been edging higher, with a 8.1% gain since it was flagged out on the Synapse HFT Stock Scanner. We will follow our rules and trail our stops, and continue to let our winning positions run for next week.
HFT Forex Trading
On the forex front, although the USD has weakened slightly, the CAD has weakened even more due to its affinity with oil prices. Our long position near the channel bottom is about to hit the TP near the top, for those who are also long, be ready to get out as there is strong resistance there as well. We are expecting a larger correction for the USD/JPY, so I will be waiting for a good chance to go long.
Good luck! And happy trading! $$$ 😀
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