follow up (bis)
Nihil nove sub sole
Our trading scenario is on the road:
GOLD is trading @ 875 $/Oz (our last week take: sell @ 925) ;
EURUSD @ 1.56 (our last week take: sell @ 1.60) ;
Stock Markets have bounced especially China ($SSEC).
As anticipated yesterday morning, the main stock market indices are now correcting their last days bounce… In our scenario, it is necessary to gain momentum before a new short term uptrend. We will observe carefully how the market reacts to tomorrow’s Fed decision on rates and on its statement on inflation.
Commodities are clearly topping these last days & the commodity market is certainly anticipating some words about inflation. Recommendation: be short on OIL index…
Also, do not be afraid of a market stock selling off from here. It will simply build solid bases for a further rebound in the next weeks…
This is our scenario! (see previous posts & analysis @ www.thestockcode.com)