The Day So Far “There are forces now under way in the market that want to weaken us. Our job now is to ensure that this distorted perception does not more strongly influence our day-to-day business.” These were the words from Deutsche Bank’s CEO in a letter to employees this morning as the DB saga rumbles inevitably on. The DB share price gaped lower and opened below €10 for the first time in 35 years this morning as several large hedge funds made announcements that they were pulling their business out of DB. Obviously this is the big story of the week and will continue to be the big story next week. €10 is a HUGE price point and I think pivotal not just for DB share prices but for general global market sentiment. Keep your eyes on the €10 handle! Stocks lower, Euro lower, Government bonds higher – this was the typical risk-off behaviour in European markets this morning. However, things have settled as we head towards lunchtime and markets are all off their earlier extremes as we take a breather. The Afternoon View We have US data this afternoon in the shape of Chicago PMI and Michigan Sentiment, but please be aware that it is also the final day of Q3. I’m following a controversial idea against market sentiment. Despite European bank worries, I think the prevalent move this afternoon in US equities will be due to Quarter End window dressing. However we are long T-Notes as risk-off sentiment remains.window dressing In terms of crude oil, we turn bearish, as the break higher yesterday was slow and unconvincing. Worries that OPEC are not comfortable with the production cut, and will face many barriers to achieving this, force us to look for a short on September’s high at US Strategy Report: 30th September 2016 Key Headlines Market Sentiment: Neutral DB shares -10% Japanese deflation deepens Major Data Releases Data ReleaseExpectedPrevious Chicago PMI UoMich Sentiment
E-Mini S&P 500 (Dec 16) Futures: 30th September th Key Levels Comments R Pivot Today’s High S Low of 27 th StrategyLong Entry st Target nd Target Stop THERE IS SUBSTANTIAL RISK IN TRADING. A LOSS INCURRED IN CONNECTION WITH FUTURES TRADING CAN BE SIGNIFICANT. AMPLIFY TRADING MAKES NO CLAIMS WHATSOEVER REGARDING PAST OR FUTURE PERFORMANCE. ANY STRATEGY IS FOR EDUCATIONAL PURPOSES ONLY Please see page 5 for more information
EURUSD (Dec 16) Futures: 30th September th THERE IS SUBSTANTIAL RISK IN TRADING. A LOSS INCURRED IN CONNECTION WITH FUTURES TRADING CAN BE SIGNIFICANT. AMPLIFY TRADING MAKES NO CLAIMS WHATSOEVER REGARDING PAST OR FUTURE PERFORMANCE. ANY STRATEGY IS FOR EDUCATIONAL PURPOSES ONLY Please see page 5 for more information Key Levels Comments Yesterday’s High Pivot Yesterday’s Low S Handle Support StrategyShort Entry st Target nd Target Stop
US 10yr T-Notes (Dec 16) Futures: 30th September 2016 Key Levels Comments R R High of 27 th Pivot Support on 28 th S1 StrategyLong Entry st Target nd Target Stop th THERE IS SUBSTANTIAL RISK IN TRADING. A LOSS INCURRED IN CONNECTION WITH FUTURES TRADING CAN BE SIGNIFICANT. AMPLIFY TRADING MAKES NO CLAIMS WHATSOEVER REGARDING PAST OR FUTURE PERFORMANCE. ANY STRATEGY IS FOR EDUCATIONAL PURPOSES ONLY Please see page 5 for more information
Nymex WTI Crude Oil (Oct 16) Futures: 30th September 2016 Key Levels Comments 48.49R High of 8 th 47.86Overnight High 47.55Pivot 47.00Handle Support 46.77S1 StrategyShort Entry st Target nd Target Stop48.49 THERE IS SUBSTANTIAL RISK IN TRADING. A LOSS INCURRED IN CONNECTION WITH FUTURES TRADING CAN BE SIGNIFICANT. AMPLIFY TRADING MAKES NO CLAIMS WHATSOEVER REGARDING PAST OR FUTURE PERFORMANCE. ANY STRATEGY IS FOR EDUCATIONAL PURPOSES ONLY Please see page 5 for more information
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