GOLD:
“ The bearish impact of the ECB’s QE was clear last week with gold making a major technical break to the downside. This is what we expected to happen following the announcement of a targeted quantitative easing program, which, by being likely to stimulate the European economy, is bearish for gold.”
Equities:
“The stock market has retreated from the highs made two weeks ago with the S&P closing at 1985.54 on Friday. However, the economic situation is still strengthening, which means that it is unlikely that this is the beginning of a change in trend.”
Today:
The opening prints are not strong today. Please start to consider taking profits in High Beta Stocks if we break 1980 in the ES Sep Futures
