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Charting the Markets with IG TV: Chris Beauchamp on markets post Trump postponement

Recorded on the morning of 14th August 2019, the day after President Trump decided to postpone new trade tariffs on Chinese goods until the 15th of December – just in time for Americans to buy their Christmas presents – Chris Beauchamp explains the combination of indices running out of steam as evidenced in the charts.

Adding that ‘’it’s easy to let a negative scenario run away from you’’ he moves on to remind us which markets are the more vulnerable when risk aversion kicks in; here he highlights the Australian dollar.

Even more fascination are the numbers of IG clients who are long versus those short. This is the case for all the major indices, currencies and commodities he covers, with one glaring – and surprising to me – single exception: the US’s S&P 500 stock index, where 64 per cent are short. It reminded me of Jesse Livermore’s propensity to sell rather than buy. He claimed that as a market professional, where one could see where retail flow was moving, the obvious option was to take the opposite side.

Click here to watch.

Posted in Finance, General, Markets, STA charts, STA education, STA news, Technical Analysis
Disclaimer

The views and opinions expressed on the STA’s blog do not necessarily represent those of the Society of Technical Analysts (the “STA”), or of any officer, director or member of the STA. The STA makes no representations as to the accuracy, completeness, or reliability of any information on the blog or found by following any link on blog, and none of the STA, STA Administrative Services or any current or past executive board members are liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. None of the information on the STA’s blog constitutes investment advice.

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