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23rd Dec 2021. 7.42am

Regency View:

Morning Report – Thursday 23rd December

FTSE to open at 7,354 (+12 pts)

The S&P 500 rallied back up into resistance yesterday, albeit on thin holiday season volumes…

US blue chips were pushed upward by improving consumer confidence and gross domestic product growth. And The White House said it would have another attempt to push Biden’s ‘Build Back Better’ bill through the Senate.

While Asian stocks have had a quiet session with the Hang Seng and Nikkei 225 in mild positive territory.

S&P 500+1.02%Bullish for UK stocks
Hang Seng+0.41%Bullish for UK stocks
Gold+0.15%Neutral for UK stocks
AUD/JPY+0.22%Bullish for UK stocks
US 10yr Yield-0.57%Bullish for UK stocks
Regency Risk Barometer Snapshot

?Risk Barometer Explained

As mentioned in yesterday’s Morning Report, the market’s swing structure suggests that a large ‘wedge’ pattern may be taking shape. And yesterday’s price action saw a retest of the top of the wedge.

The market is now faced with multiple levels of resistance as we head into the festive bank holiday’s.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
International Economic Announcements
13:30 US Durable Goods (Nov)
13:30 US Nondefense Capital Goods Orders (Nov)
Today’s Financial Diary

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Disclaimer:

This research is prepared for general information only and should not be construed as any form of investment advice.