With U.S. Markets closed for the Presidents’ Day Holiday, trading elsewhere was extremely quiet. Although European Markets closed mixed, the FTSE did close at a new all-time high at 8020. In Asia, The Bank of Japan is expected to tighten monetary policy as soon as July, following the nomination of Kazuo Ueda as Governor, which will likely cause the Japanese Yen to rally. South Korea’s Ministry of Economy and Finance said declining export demand and deteriorating business sentiment point to an economic slowdown. Elsewhere Oil was closed while Gold closed flat.
To mark my 2725th 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 made 47 points yesterday and is now ahead by 2896 points for February after closing January with a gain of 4687 points, while finishing December with a gain of 2054 points. November ended with a gain of 4789 points, while finishing October with a record gain of 9619 points, making 6660 points in September, after closing August with a gain of 2228 points, having made 2660 points in July, following a gain of 3371 points in June. The Service made 3651 points in May, after making 762 points in April, following a gain of 5883 points in March. The Platinum Service made an impressive 5324 points in February, after ending January with a gain of 3878 points, more than making up for December’s 932 points loss. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points. I have a YouTube Channel which contains recent interviews I have given This can be viewed by clicking HERE Please subscribe to this for new interview notification
Equities
The S&P 500 closed 0.28% lower at a price of 4079
The Dow Jones Industrial Average closed 129 points higher for a 0.39% gain at a price of 33,826.
The NASDAQ 100 closed 0.68% lower at a price of 12,358.
The Stoxx Europe 600 Index closed 0.07% higher.
Yesterday, the MSCI Asia Pacific fell 0.3%.
Yesterday, the Nikkei closed 0.07% higher at a price of 27,531.
Currencies
The Bloomberg Dollar Spot Index closed 0.1% higher.
The Euro closed 0.1% lower at $1.0684.
The British Pound closed 0.1% lower at 1.2032.
The Japanese Yen fell 0.1% closing at $134.26.
Bonds
Germany’s 10-year yield closed 3 basis points higher at 2.47%.
Britain’s 10-year yield closed 5 basis points lower at 3.47%.
U.S.10 Year Treasury closed 4 basis points lower at 3.82%.
Commodities
West Texas Intermediate crude closed 2.80% lower at $76.29 a barrel.
Gold closed 0.3% higher at $1842.10 an ounce.
This morning on the Economic Front we have U.K. Public Sector Net Borrowing Requirement at 7.00 am. This followed by German, Euro-Zone and U.K. Manufacturing PMI at 8.30 am, 9.00 am and 9.30 am respectively. At 10.00 am we have the German and Euro-Zone ZEW Survey. Finally, we have U.S. Manufacturing PMI at 2.45 pm and Existing Home Sales at 3.00 pm.
Cash S&P 500
The S&P traded in a narrow 14 Handle range since I posted late Sunday night. I am still long at an average price of 4086 with the same 4063 ‘’Closing Stop’’. I will leave my T/P level unchanged at 4091. If any of the above levels are hit I will be back with a new update for my Platinum Members.
EUR/USD
No Change. I am still long at 1.0670. I will leave my 1.0715 T/P level unchanged. I will continue to add to this position at 1.0600 while leaving my 1.0545 ‘’Closing 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
No Change. I will not chase the Dollar higher, leaving my 102.40/103.10 buy level unchanged with the same 101.85 ‘’Closing Stop’’.
Cash DAX
The DAX hit a low at 15432 yesterday before having a small rally into the close. I will now lower my buy level to 15260/15330 with a lower 15195 ‘’Closing Stop’’. The price action keeps telling me there is no point in being short unless the DAX breaks and closes below 15,000 for two consecutive trading sessions. If I am taken long, I will have a T/P level at 15390
Cash FTSE
Although the FTSE made a new all-time closing high yesterday, the range was pathetic. It looks like the whole world took yesterday off as there was no volatility across any of the Contracts that I cover. I am still flat, reluctant to chase the market higher given how overbought we are at this time. Therefore, I will leave my 7870/7940 buy level unchanged with the same tight 7815 ‘’Closing Stop’’. I still do not want to be short the FTSE at this time.
Dow Rolling Contract
I am still flat. As I am still long the S&P, I will now lower my Dow buy level to 33320/33570 with a lower 33195 ‘’Closing Stop’’. I still do not want to be short the Dow at this time.
Cash NASDAQ 100
After the NDX hit my buy level at 12320 we had a small rally. As I wanted to bank some points for yesterday’s session I emailed my Platinum Members to exit any long position at 12367 and I am now flat. The NDX has strong support from 12060/12240 where I will be a strong buyer with a lower 11895 ‘’Closing Stop’’. Despite rising Bond Yields I still do not want to be short the NDX at this time.
March BUND
No Change. I am still long at an average rate of 135.35 with the same 134.55 ‘’Closing Stop’’. The U.S. has a two-year Treasury Auction at 6.00 pm. I am expecting some volatility post this Auction result. Meanwhile I will leave my 135.70 T/P level unchanged. If any of the above levels are hit I will be back with a new update for my Platinum Members.
Gold Rolling Contract
My Gold plan worked well last week. The continued idea of buying dips is certainly paying off. This strategy will continue as long as Gold remains oversold. Gold has support from 1812/1827. I will be a buyer in this area with a wider 1799 ‘’Closing Stop’’.
Silver Rolling Contract
No Change. Silver has traded sideways since we saw the market fall 3%,10 days ago. I am still convinced that it is only a matter of time before Silver takes out the key 24.00/25.00 resistance area. Remember in May 2011, Silver was trading above $50. I am still long at an average rate of 23.10 with the same no stop policy. I will leave my T/P level unchanged at 23.50. If any of the above levels are hit, I will be back with a new update for my Platinum Members.
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