Market sentiment analysis:
- The “risk on” trend in markets is continuing although in stocks, in particular, the chances of a correction are increasing.
- For now, the good news continues to outweigh the bad.
Trading sentiment still constructive
Trader confidence remains high in the financial markets, with the stock markets still powering ahead and no strong demand for the traditional safe havens. While some assets are still in quite narrow trading ranges, good news such as the reprieve for Huawei from US sanctions continues to be paid more attention to than bad news such as the unrest in Hong Kong.
Narrow trading ranges can be seen in many assets at present but the US stock markets remain in buoyant mood despite fears of a possible correction or even a new trend lower.
S&P 500 Price Chart, Four-Hour Timeframe (October 7 – November 19, 2019)
Chart by IG (You can click on it for a larger image)
In this webinar, I looked at the trends in the major currency, commodity and stock markets, at the forward-looking data on the economic calendar this week, at the IG Client Sentiment page on the DailyFX website, and at the IG Client Sentiment reports that accompany it. You might also like to check out the DailyFX Trading Global Markets Decoded podcasts.
Resources to help you trade the markets:
Whether you are a new or an experienced trader, at DailyFX we have many resources to help you:
- Analytical and educational webinars hosted several times per day,
- Trading guides to help you improve your trading performance,
- A guide specifically for those who are new to forex,
- And you can learn how to trade like an expert by reading our guide to the Traits of Successful Traders.
--- Written by Martin Essex, Analyst and Editor
Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex
