DAX: Yesterday’s little shooting star candle has kept the MACD bearish and might increase current very low levels of negative momentum. Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle.


DAX SHORT TERM TRADER: Small short at 11180; stop above 11400. First target 10600.

DAX POSITION TAKER: Short at 10955; stop above 11400. Target 9350.


December data dire
US Christmas shopping disaster

Belated US December retail sales data (caused by the Federal government shut down) were so bad that I, as well as White House economic advisor Larry Kudlow’s first reaction was to question their validity. The volume of sales fell by 1.2 per cent, one of the biggest monthly declines on record and, if one excludes vehicle sales, they slumped by 1.8 per cent. Only once in the history of this series has a deeper drop been seen and that was in January 2009.

With his 2019 budget failing to get through Spanish parliament, Socialist PM Pedro Sanchez is likely to call a snap general election this morning; he’s called a press conference for 10:00 am local time (09:00 GMT). The country already has scheduled elections on Sunday the 26th May for local, regional and EU slots. In a highly fragmented and confrontational political landscape, any one party is very unlikely to wield power.

Financial Markets and Political Commentary


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