The markets have all had one thing in common over the last trading day, they are all in the red. Following falls of 116 points on wall Street and earlier losses of 41 and 89 points on the FTSE and DAX respectively, Asian bourses are closing lower.
The Hang Seng is down 170 points whilst the Nikkei225 is down 458 points. As mentioned in yesterdays market comment, trading from the short side is preferred, but with caution. Opening calls for the FTSE and DAX see them off by 28 and 114 points also. Porr Japanese export data started the decline in Asia.
Worries over trade and earnings are tipping the scales in favour of the short side. Corporate results will take centre stage again today, along with the G7 meetings. Retail Sales numbers in the UK this morning will also receive attention
I remain short GOLD