8-9 trading sessions have passed since I last looked at the markets – following my round-the-world trip to Macau and Las Vegas!!
The STAM points have not actually changed a lot on the weekly and daily timeframes – Yen has gone from 2 to 4 points, CHF has gone from 8 to 10, NZD has dropped from 9 to 6, and CAD has dropped from 3 to 2.
Thus in terms of strength we still have Sterling at the top with 14/14 – EUR, CHF (strengthening) and USD on 9-10. NZD on 6 and weakening, Yen on 4 (strengthening) and AUD and CAD weak on 1 and 2. No point listing the buy and sell biases at this point in time.
Several pairs are currently in STAM environments:
GBPCHF, EURUSD, USDCHF, EURGB, NZDCAD and several others.
Entered new S1S trade on AUDJPY – see post above. Similar setup on CADJPY but the retracement was not as great – only 80 pips, compared to 150 pips on AUDJPY.
Quick check on Nikkei and S&P. Sentiment has gone bearish on Nikkei, has retraced some 1500 points from its recent high. Similarly the S&P has also gone bearish on weekly timeframe, and has also retraced.
No further setups at this point in time.