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.

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Posted in Education, Finance, Markets, STA charts, STA education, STA news, Technical Analysis
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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.

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About Nicole Elliott

Nicole Elliott

A graduate of the London School of Economics and Political Science (BSc Social Psychology) Nicole Elliott has worked in banks in the City of London for the last 30 years. Whether in sales, trading or forecasting technical analysis has always been the bedrock of her thinking. Key expertise lies within all areas of treasury: foreign exchange, money markets, fixed income and commodities.

She has also added to the body of knowledge of the industry writing the first western book on Ichimoku Cloud Charts. Strong media links and a cult following are due to her prescient calls on the markets and often entertaining format.

Nicole can be contacted at trending@sta-uk.org

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