CURRENCIES
Our stop loss yesterday was not hit so we are still short on the euro dollar, see the 5 minutes chart hereby under. Tomorrow the Irish will vote (against the Constitution, obviously) so I do not think that there will be much buying power on the market up to tomorrow. Moreover the dollar is so strong because of the perception of new interest rates hikes from the Fed and only a low PPI data today could cancel that opinion. We move our stop loss at breakeven and we simply wait the events unfolding.
EQUITY INDEX
In a financial website for commercial purposes you should not be lucky but smart. In this case the signal on Russell was simply pure luck since equity indexes are entrenched in a congestion move since months and to gain money on the long side is not so easy. Fatter and fatter are also our positions on SMI and SPMIB40. The signal on SPMIB40 was given to the Italian readers in the same day of the Aschaffenburg fair.
BONDS
We closed our long trade on EuroBund and now we wait without taking a short position. Sometimes to be flat help your nerves and over all your understanding of the broad market direction. Moreover PPI data today could reverse the bear trend on bonds very quickly. So we stay at the window watching the passers by.
