Charting the Markets with IG TV: Joshua Mahony MSTA rattles through volatile markets

Recorded on the 6th August 2019, the Monday after China allowed to yuan to weaken in response to President Trump’s imposition of new trade tariffs Thursday last week, Joshua, a frequent fixture on the business media circuit, covers a broad range of ideas and charts.

Initially rattling through news and data, at the third minute he switches to his forte: charts and technical analysis. He kicks of with the FTSE 100, then Germany’s Dax, followed by the Dow Jones Industrial Average. Interesting to see he uses a 200 week simple moving average. I mean, that’s 1000 working days. Is this useful to IG’s retail clients? Later on, when covering FX, he’s very much more short term – even saying that cable has been ‘’rallying relatively heavily recently’’ – could have fooled me. One must watch out for his sense of time and perspective.

Fascinating to see the ratio of IG clients long versus short. A whopping 78 per cent keen on the Australian dollar – one of this week’s worst performers along with the New Zealand dollar. Brent crude shows a whopping 82 per cent long! Straits of Hormuz, I’m guessing, but fodder for a contrarian like me. Also interesting is how he pinpoints chart levels that are important to swing traders.

Finally, make a note that they offer a News an Analysis section at the bottom left of their web site on the IG platform. I think this might be a good addition to the news feeds you might be following.

Click here to view.

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Posted in Markets, STA education, Technical Analysis, Technical Analysis Courses, Trading

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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.

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.

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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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