With U.S. Markets closed for the Martin Luther King Holiday nothing much of note happened in either Europe or Asia as Global Markets went on hold ahead of the American Markets re-opening this afternoon. Bitcoin fell 3%, and is now trading below $42,000 as I go to press while Brent closed at a new cycle high as we wait for WTI to open later. Bond Yields firmed in Europe while Equity Markets closed flat.
To mark my 2475th issue of TraderNoble Daily Commentary I am offering a special 2-Year Rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day to demonstrate this value, a monthly subscription over the same period would cost 4440 euro in total This offer represents a 38% discount and is open to both new and existing members. If anyone is interested in this offer can you please email me on bryan@tradernoble.com for details
For anyone following my Platinum Service it was flat yesterday and is still ahead by 1005 points for January, after ending December with a loss of 932 points, having made 2466 points in November, 1028 points in October, 2866 points in September, 1543 points in August, and 996 points in July. The Platinum Service made 1366 points in June, 1439 points in May, 1244 points in April, having ended March with an impressive gain of 3769 points, 3286 points in February, and 2077 points last January. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points
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Equities
The S&P 500 closed 0.08% higher at a price of 4662.
The Dow Jones Industrial Average closed 202 points lower for a 0.56% loss at a price of 35,911.
The NASDAQ 100 closed 0.75% higher at a price of 15,611.
The Stoxx Europe 600 Index closed 0.1% higher.
Yesterday, the MSCI Asia Pacific Index rose 0.2%.
Yesterday, the Nikkei closed 0.74% higher at a price of 28,333.
Currencies
The Bloomberg Dollar Spot Index closed 0.3% higher.
The Euro closed 0.1% lower at $1.1405.
The British Pound closed 0.2% lower at 1.3648.
The Japanese Yen fell 0.2%, closing at $114.55.
Bonds
Germany’s 10-year yield closed two basis points higher at -0.02%.
Britain’s 10-year yield closed four basis points higher at 1.19%.
US 10 Year Treasury closed nine basis points higher at 1.79%.
Commodities
West Texas Intermediate crude closed 2.50% higher at $83.48 a barrel.
Gold closed 0.26% lower at $1,817.10 an ounce.
This morning on the Economic Front we have U.K Average Earnings and the Unemployment Rate at 7.00 am. Next, we have U.S. New York State Empire Manufacturing Index and the NAHB Housing Market Index at 1.30 pm and 3.00 pm respectively. Finally, we have the Net Long-Term TIC Flows at 9.00 pm.
Cash S&P 500
The S&P traded in a narrow range yesterday and I am still flat. Today, I will continue to be a buyer on any dip lower to 4625/4640 with the same 4614 stop. The S&P has resistance from 4685/4700 where I will be a small seller with the same 4714 tight stop.
EUR/USD
No Change. I am still long at 1.1410 buy level with the same 1.1440 T/P level. I will not add to this position, leaving my 1.1345 stop unchanged. If any of the above levels are hit I will be back with a new update for my Platinum Members.
March Dollar Index
I am still flat. Today, I will again be a buyer on any dip lower to 94.30/94.80 with a 93.95 tight stop. If I am taken long I will have a T/P level at 95.15.
Cash DAX
No Change. I have no interest in chasing the price of the DAX higher. Thus, I will leave my 15700/15770 buy level unchanged with the same 15635 stop.
Cash FTSE
The FTSE traded in a narrow range for most of yesterday, before rallying late, hitting my 7615 sell level. I am still short with a now higher 7580 T/P level. I will add to this position at 7665 while leaving my 7705 stop unchanged.
Dow Rolling Contract
The Dow also traded in a narrow range yesterday and I am still flat. The Dow has support from 35590/35780 where I will continue to be a buyer with a 35395 wider stop. I still do not want to be short the Dow at this time. If I am taken long I will have a T/P level at 35930.
Cash NASDAQ 100
No Change. I am still a buyer on any dip lower to 13310/15420 with a 15195 stop. Given how oversold the NDX is, I do not want to be short the market at this time. If I am taken long I will have a T/P level at 15490.
March BUND
No Change. I am still long at 170.25 with the same 169.55 stop and 170.45 T/P level. If stopped, I will be a more aggressive buyer from 168.70/169.20 with a 168.35 stop. If I am taken long a second time I will have a T/P level at 169.65.
Gold Rolling Contract
No Change. Gold continues to struggle to break the 1830/1840 resistance level. With everyone still long Gold I am nervous and today, I will leave my 1780/1795 buy level unchanged with the same 1769 stop
Silver Rolling Contract
No Change. I am still a buyer on any move lower to 21.95/22.65 with the same 21.25 stop. If I am taken long I will have a T/P level at 23.05.
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