Nick Leeson on Indicies Drift
Asian markets are little changed overnight as Global equity indices look set to drift this morning. The FTSE is called two points higher whilst the DAX is currently forecasted to shed 6 points at the opening bell.
The DOW closed higher yesterday even after the US Federal Aviation Authority followed everyone else and grounded the Boeing 737 Max 8 fleet. There is a sense that the worst may be out for Boeing but until the investigation is complete and the findings made public, we will have to wait and see. Boeing shares gained 0.5% yesterday after falling 11% earlier in the week.
The DOW gaining ground whilst one of its components sheds 11% in value shows the resilience of the markets at this point.
With very limited economic data set for the remainder of the week and the markets set to drift, I am looking for opportunities to either short Indices on a bounce or around the opening bell. DAX futures look set to open between 11,560-575, anything above these levels, I will sell. This is an MOO order only .
Shayne Heffernan Comments from Asia
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