What do the facts and data indicate in the beginning of the U.S. trading session

22.07.2016 / 17:33

Rating:

What are the facts:

1. Overbought market in US - dangerous for long positions, therefore we look for short positions

2. Poor financial statement for GE - may impact negatively the entire industry

3. The effect of improved financial data disappears

4. Major banks in the US published their financial reports and already accumulated their prices with good results. From here on the direction is down on shares

5. Better data on the PMI had no effect on the market, therefore the market and market players are preparing to sell

6. Today is Friday - possibly profit taking from the weekly uptrend

7. Next week is the FED meeting - proceed with caution

8. Only a breakthrough below these levels will give us a sell signal. While the price is above these levels, short position are risky

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What do the facts and data indicate in the beginning of the U.S. trading session

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