Could there be a global storm brewing stock market-wise?

Could there be a global storm brewing stock market-wise?

Hi Guys.
A very nervous day again yesterday for the Stock Markets.
Like an old boxer the S&P spent all day trying to get off the canvas only to lose his legs late in the bout looking like he might just  fall again.  Currently at 2,638 it appears to have its head down and from a T/A point standpoint if it does go again the next real level of support is about 2,600 and again below at 2,525 but after that I cant see anything until 2,400.  The Dow Jones has a similar outlook.
I wonder where the big stop loss levels are and where the “robots” come into this..?

U.S Oil has also slipped this morning and now sits just above $59.
This has the potential to slip further to the next big level of $56 but a lot of that will depend on the U.S $. That said there are a great many that want this back above $65.

The $ tried and tried but it just could not climb the wall I’ve mentioned previously.  I think this is going to swing from side to side until it eventually breaks out. From this point I think it could easily get back into the prevailing trend and it could go lower again.

The Pound and the Euro are going to be very nervy as Theresa May announces Brexit plans over the next few weeks. Obviously trying to form a view of markets at this time would be a fruitless exercise as it seems to me there could be a global storm brewing stock market-wise and of course currency-wise with Brexit.

The Yen maybe the currency to trade as investors run towards its usual “safe haven” status.   Already today we can see against the $ its has gained 100 pips with a similar pattern against the Euro.

Big moves are coming

Clive

P.S
We have a bug in the system and I am unable to update the Trading Table right now. We are working on this today and expect to have that resolved shortly.  The account is still going in the right direction, despite some extremely volatile days recently and currently stands at + 11.85% growth since July last year using a minimal risk exposure of < 0.25% . A lot of traders use 1% risk and so to put this into perspective that would equate to a staggering 47% growth.
Once markets sort themselves out risk will be increased.

Problem Fixed – Account can be reviewed.

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Categories: Guest Writers, Viewpoint

About Author

Clive Arneil

Clive Arneil worked for major brokers for over 20 years trading most instruments in the Foreign Exchange markets as well as Derivatives. Brokered deals on behalf of some of the worlds largest banks including Barclays, Citibank, UBS, Nat West and the Bank of England. Worked mainly in the UK but also in Switzerland, Germany and the U.S. Retired from the Money Market at the age of 40 and worked as a financial data feed specialist supplying market data to Banks, Brokers and Spread-Betting companies. Still trading and teaching people the skills required to master today’s volatile markets.