Spread Betting News: The Latest Market News On Spread Betting

 
 
You are here:

Fast, Easy & Proven Financial Spread Betting System

Sign up and take advantage of our proven financial spread betting system and information service. We aim for profit of 160%* each year and offer a 100% no quibble refund on your 1st months subscription. Our results speak for themselves.

LS Trader Weekly Update – Monday 20th February 2012

February 20th, 2012

The past week has seen stocks reach and move above our long-standing target of 1355 on the S&P 500 and U.S. stocks have now all but erased their losses since June 2008. The trend remains up for stocks with indexes either at or near multi year highs (the Dow 30 hit a 4 year highs this past week and the Nasdaq 100 reached its highest level since 2001).

Considering the above the dollar has held up quite well and with the exception of against the Australian and New Zealand dollars, still remains in a long term uptrend.

Stocks

For the past several weeks we have been writing about our 1355 target on the March S&P 500 and it was finally reached and cleared this week and we now have new targets at 1385. We wrote last week about the importance of the lower support from the bull channel holding and it did just about this w eek, and new highs for the year followed.

The Dax also moved higher, reaching its highest level since August and continues to find support from the trendline that has held since December last year. Each decline towards the trendline is being met with buying and this week was no exception as Thursday’s lows bounced exactly off this trendline, propelling the market to new highs on Friday. This week also saw a change of long term trend to up for the Nikkei, so the trend is now up across the board for all the indexes we trade at LS Trader.

Commodities

Last week we wrote on Crude “The market remains above the 200 day moving average and the trend is still up so an upside breakout remains more likely” and we did see a breakout to the upside. April Crude reached its highest level since September last year and the trend remains up. Heating oil and No leaded gas followed Crude higher and gasoline is now moving towards last year’s highs and we may see those levels tested this week.

We have a third consecutive doji on the weekly chart on Gold so indecision in this market is very much the current status. Buyers are so far coming in just above $1700 but if that level fails we may see a move lower towards the 200 day moving average and support around $1650. The long-term trend still remains down and resistance is still in place at $1770 on the April contract.

Currencies

The dollar index ended the week higher by 0.29% and does appear to have formed some decent short-term support around 7850 with support provided by the stick sandwich pattern and the bullish engulfing pattern that we wrote about last week. The long-term trend remains up for the dollar overall but is down against the Aussie and New Zealand dollars.

The British Pound did not quite make it as far down as $1.56 and t he 50 day moving average but did make quite a strong recovery on Thursday and Friday. Resistance is still in place at the 200 day moving average around $1.59 and that may be tested this week.

Big move of the week came as the Yen declined against the dollar by 2.41% for the week, a move that saw the dollar push above the 200 day moving average for the first time since April last year. More significant than that though was the break above the highs formed on the 31st October last year. The trend is now up for the USD/JPY.

Interest rate futures

Interest rate futures ended the week lower and the uptrend may be coming to an end, at least for the near term. Longer term markets are holding up slightly better than the shorter-term markets and medium term support is still holding. Those support levels may be tested this week.

Kind Regards

Robert Stewart

Link to this post!

Tags: , , , , , , , , , , , , , , , , , , ,
Posted in Weekly Updates | View Comments

LS Trader Weekly Update – Monday 13th February 2012

February 13th, 2012

The past week has seen stocks and the dollar end the week relatively flat although stocks did rise to new highs for the year. The trend for the dollar remains up overall and commodities remain mixed.

Stocks

For the past several weeks we have been writing about our 1355 target on the March S&P 500 and this past week saw the market rise to 1352.3 before pulling back to close the week at 1340.6. This resulted in a small gain for the week of 0.11%. In spite of the small correction towards the end of the trading week, the S&P 500 remains in a bull channel and the trend is still up. The bottom of the bull channel is currently around 1325 and it will be interesting to see if that lower support line of the channel is hit this week and if it once again hits support.

Last week we wrote that resistance at 1355 can be expect ed but if it can be taken out we could see a move to the next target at 1385, and that still applies, especially of support at the bottom of the channel holds.

Commodities

Crude ended the week ahead but remains within the box range that it has been in for the past several weeks. The market remains above the 200 day moving average and the trend is still up so an upside breakout remains more likely although this would change on a break below $95.

Gold ended the week lower by higher by 0.86%. Last week we wrote that in spite of recent strength Gold was showing signs of a possible turn. We also wrote “The weekly bars show a doji, which at resistance can be a prelude to a turn, but the stronger signal comes on the daily charts where there is a large bearish engulfing pattern. This could lead to a move lower.” So far the move lower has been reasonably well contained but the long term trend doe s remain down. On the April contract there is resistance around $1770 but the next level of support is not until $1650.

Grains are not doing a great deal and the trend remains down. Most of the grains markets are showing numerous doji candles, which represent indecision. A break to the downside continues to look more likely.

Currencies

The dollar index did briefly fall through a short term support level but had regained it by the end of the week. Medium term support at 7800 is still holding so the medium term trend is still up for the indexs as is the long term trend. On the daily charts there was a stick sandwich support pattern followed by a bullish engulfing pattern on Friday so there is certainly some buying pressure coming in around 7850.

Last week we wrote that the British Pound looked to be heading for the 200 day moving average, at that point around $1.59, and that is exac tly where the pound reached before reversing and making a move lower. The trend remains down for the Pound and it may now be heading down towards the 50 day moving average around $1.56.

Interest rate futures

Interest rate futures ended the week pretty much flat but all of the markets had been lower earlier in the week. All of the markets did hold at short term support and the trend remains up across the sector.

Kind Regards

Robert Stewart

Link to this post!

Tags: , , , , , , , , , , , , , , , , ,
Posted in Weekly Updates | View Comments

LS Trader Weekly Update – Monday 6th February 2012

February 6th, 2012

It’s been another week or risk on, which has seen stocks continue in bullish mode and the dollar continue its recent weakness. The trend continues to be up for stocks and is still up overall for the dollar but that may be going to change. Commodities for the most part have continued to benefit from dollar weakness.

Stocks

January ended the month up, which according to the January Barometer means that there is a good chance of stocks ending the year higher. At present things are continuing in a bullish fashion and risk-on remains the primary strategy for traders.

We have been writing about the likely target of 1355 on the S&P 500 March contract and that still looks to be the likely destination. Resistance at 1355 can be expected but if it can be taken out we could see a move to the next target at 1385. We will review from there if and when that target is reached.

The Nasdaq 100 once again continues to lead the way, which as we wrote last week is generally the most bullish set up. The Nasdaq 100 is now approaching 11 year highs. The Dax is also moving higher having recently changed long-term trend to up. Of all the indexes that we trade at LS Trader, the Nikkei is the weakest and still in a long-term downtrend. Whether that changes or not remains to be seen.

Commodities

Crude found support on from the 200 day moving average but still ended the week lower by 1.73%, ending the week once again below the $100 level. If support at $95 fails then a move to $93 will likely follow.

Gold ended the week higher by 0.33% but is showing signs of a possible turn. The weekly bars show a doji, which at resistance can be a prelude to a turn, but the stronger signal comes on the daily charts where there is a lar ge bearish engulfing pattern. This could lead to a move lower. If however, the market can close above the bearish engulfing pattern we may see a move higher towards $1800. For now the trend is still down for Gold. We have similar action on silver, but the reversal pattern on gold looks stronger.

Currencies

The risk-on move has continued, as has dollar weakness. The dollar index though ended the week flat and has so far not fallen to the next support level at 7800. There are a series of lower shadows on the daily candles, which suggest some buying coming in around the lows of last week.

Last week we wrote about the ultimate risk-on currency, the Australian dollar and said that close on its heels was the New Zealand dollar. Both of these currencies continued higher and these are the first 2 markets to give a change of trend to up. The third commodity currency is the Canadian dollar and tha t may be the next to give a change of trend.

The pound has also continued its good run and may be heading for the 200 day moving average, currently around $1.59.

Interest rate futures

Interest rate futures continued to climb higher until Friday, where having made new highs initially, heavy selling followed. The trend is still up across the sector.

Kind Regards

Robert Stewart

Link to this post!

Tags: , , , , , , , , , , , , , , , , , , ,
Posted in Weekly Updates | View Comments

LS Trader Weekly Update – Monday 23rd January 2012

January 23rd, 2012

We have been writing of late about the inverse correlation between stocks and the dollar and this past week has seen more in the way of risk-on, which has favoured stocks and led to dollar weakness. This move has started to shift the long-term trend to up for stocks, but it also still remains up for the dollar. It is unlikely that both of the long term trends will continue for long in the same direction so something is going to shift before long.

Stocks

We have been writing of late about various seasonal indicators and tendencies for the stock markets in the year ahead based on what happens to stocks at different times in January and over the month as a whole. So far, January has been highly bullish so if things continue this way until the end of the month and hold true to form, stocks could be on for an up year.

Last we ek we wrote “Short-term direction is still unclear but a break above 1300 would open the way for a rise to the 2011 highs at 1355.” We did get the breakout above 1300 and not only tht but the market went on to close above that level, which included a weekly close also for further bullish confirmation and there is little in the way chart wise to suggest that the market falls short of a test of the 2011 highs around 1355.

Strength in stocks also led to a breakout for the Nasdaq 100, which this past week hit a new 10 year high having reached its highest level since 2001. Whether we get further strength this week remains to be seen and we may also see the Dax make an upside breakout.

Commodities

Crude ended lower for the second straight week but the trend is still up. Crude has closed once again below the $100 level but the trend is still up. As before we may see a continuation lower towards the 200 day moving average, which may act as support.

Gold managed to clear resistance at $1650 but has not really moved ahead in a convincing manner. The trend remains down but the market has moved back above the 200 day moving average so further strength may be seen and may get to around $1680 where there is further resistance. Silver had a larger move to the upside than gold, but the trend also remains down for silver.

Once again the big moves of the week came in the Orange Juice market, which ended the week ahead by 14.11%. The long term trend is clearly up and the market bullish, as strength this week erased losses seen at the end of the prior week and took Orange juice back to 34 year highs.

Currencies

The risk-on move being seen so far at the start of this year is having a negative short-term impact on the dollar. Although the long-term trend remains unaffected short term the dollar is weak and may be heading for a test of various support/resistance levels in the week ahead. The most important of these will be on the dollar index, which is still holding above support at 8000. There is also further support around 7950 and the dollar will remain in an uptrend short term as long as those levels hold.

Both the Euro and the Pound had bullish weeks, particularly the Euro, which broke out of a medium term bear channel, which has been in place since October. When this happens we often see a move back to test the top of the channel, which is currently just below the $1.28 level. The trend for now is still down.

Interest rate futures

The trend continues to be up for the interest rate futures sector but the risk-on strategy seen in other markets has resulted in lower interest rate futures this week. Longer term markets are heading for short term support but consider able further weakness will be required for a long term trend change to down. The 5 year notes still remain relatively close to all time highs.

Kind Regards

Robert Stewart

Link to this post!

Tags: , , , , , , , , , , , , , , , , , , ,
Posted in Weekly Updates | View Comments

LS Trader Weekly Update – Monday 16th January 2012

January 15th, 2012

We wrote last week that the way the year has started with both stocks and the dollar rising is unusual and this has continued this week. The dollar index has risen to its highest level in a year and the S&P 500 has also reached a multi-month high. Stocks and the dollar are historically inversely correlated so how much longer both markets continue to rise together for remains to be seen. Probably not very long will be the answer.

Stocks

Over the past couple of weeks we have been writing about the so called January Early Warning system which states that if the first 5 trading days of the year end up, so does the rest of the year with good accuracy. The last 38 up first five days where followed by up years in 33 of those years for an 86.6% accuracy ratio. This year the first 5 days were up, so if you put any stock in this indi cator, then the year should end up. I personally have little faith in such an indicator and believe stocks will end the year lower but we shall see.

On a more important note than seasonal indicators, the S&P 500 finally took out the 1280 resistance level but has not as yet pushed on in a convincing manner. 1300 was tested on Thursday with an intra-day high of 1297.5 but resistance held and the market pushed lower. Short-term direction is still unclear but a break above 1300 would open the way for a rise to the 2011 highs at 1355.

Commodities

Crude continued its decline and moved back below the $100 level. We may now see a continuation lower towards the 200 day moving average, which may act as support. For now the trend remains up.

Gold reached a 4-week high on Thursday but was rejected above the $1650 level and a shooting star pattern formed, followed by a bearish engulfing pa ttern on Friday so there is clearly resistance at $1650. The long-term trend remains down and there is not much in the way of support between current prices and the recent lows.

Orange Juice was a hugely active market, which saw a limit up move on Tuesday take futures to a 34-year high but this move was reversed the next day. By the end of the week juice ended ahead by 3.85% in what was an extremely active and volatile week.

Biggest moving sector of the week was grains, which reversed much of their recent gains and markets often do when moves are made counter to the long-term trend. The long-term trend remains very much down across the sector and new lows may not be too far away.

Currencies

The dollar index continues to find support around the 8000 level which continues to hold well. Friday saw a decline towards 8000 but buyers came in well above support and took the index up to a new 12-month high. The trend remains up for the dollar index as it does for the dollar on the whole.

The Euro continues to drift lower, falling to new 15-month lows against both the Pound and the dollar. The trend is still therefore very much down. Against the dollar the euro remains in a bear channel that is quite well defined and has remained in place since the end of October. The top of this channel is currently around the $1.29 level so that should provide some resistance. If last week’s lows can be taken out then the next target will be $1.25 and below that we will be looking at $1.20.

Interest rate futures

We wrote last week that we may yet see new low yields in the interest rate futures sector and that has been seen this week. The uptrend has been stubborn to say the least in spite of most commentators expecting prices to decline and we have once again seen new high prices. Those who continue to fight the trend and try to call a top continue to do so at their own peril. With the likelihood of further easing from some of the central banks (something must surely be in the pipeline in the Euro zone and in the U.S.), I would not bet against even lower yields and yet higher prices. The trend is up.

Kind Regards

Robert Stewart

Link to this post!

Tags: , , , , , , , , , , , , , , , , , , ,
Posted in Weekly Updates | View Comments

« Older Entries
Copyright 2011 © LS Trader. The LS Trader Group, New Bond House, 124 New Bond Street, London, W1S 1DX, UK

 

Financial Spread Betting & Online Forex Trading System

* Results are the outcome of backtesting and are hypothetical since not all trades were taken. Future results may be higher or lower than past results.