World Markets Tues 20 Mar 18

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Whiel the UKX adn NMX sold heavily yesterday - the MICX and AIM only declined by less than 0.5%and remain relatively bullish . GBP continues to gain strength finding support from the 50MA, this may well be catalysed by the improved outlook on Brexit negotiation: expect a retest of the Feb 1.43 highs on cable and a breakout to 1.50 possible S&P sold off heavily but rallied into the close: the FANGS losing ground for the first time in ages. NASDAQ checked the 50MA and bounced DJI closed below the 100MA marking a shift in medium term sentiment US small caps gapped down and closed near lows which is bearish Directionally markest are set for the downside so look for RSI based outperformers for longs but focus on shorts and weaknes to gather .

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Tons of Options

World Markets AM Fri 16 Mar 18 UK indices remain weak with a tight correlation to a strengthening GBP vs USD UKX may be forming an inverted H&S with a recheck of the February low of 7076. If the pattern completes without loss of support around 7070 then a reversal is more likely with a rally to test resistance at 7300 Failure of the 7060 area may well see a sell-off to below 7000 and support at 6800. The 7060 level is very significant historically with price action back to 2016 where it formed a temporary high which was broached in 2016 and then formed support in 2017. MCIX and AIM are more bullish than the UKX and NMX with AIM maintaining its long term uptrend MCRO has dragged the UKX and TASX down significantly over earnings guidance and the resignation of the CEO Cable remains bullish as GBP strengthens S&P remains bullish although price is moving sideways with a tight following of the 50MA The NASDAQ has formed a top and may well reverse in the short term although the overall index remains in a bullish uptrend. The DJI has turned short to medium term bearish with price below the 50MA and above the 100MA. As price compresses between these MAs expect either a break-out above the 50 or a breakdown below the 100.. Given overall market direction and sentiment at the monent, a breakdown seems the more likley candidate That said, the VIX is not rallying nor is gold or silver showing much sign of a worry trade. Oil remains bullish while copper and iron ore have sold-off recently leading to some softness in the minersLorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse sapien tortor, feugiat non odio quis, volutpat pretium odio.

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