Technical trade note on Wall Street 30 Updated - 8 August 2018

We have seen some positive movement on Wall Street 30 from the release of the Non-Farm Payrolls (NFP) number. The number came in a lot lower than expected which saw the Index move lower initially as expected. The move lower was short lived as the bulls were back in control by the time the US market opened.

In this note you will find the updated technicals and chart:

Looking at the chart

Our Wall Street 30 Non-Farm Payrolls (NFP) long trade was triggered and I am looking to manage the trade higher as long as the bulls are in control. The U.S markets look healthy to push higher despite the looming trade war and Iran sanctions constantly making the headlines.

Ways to proceed:

• Move stop loss well into profit to the 25600 level.
• Take some profit at current levels and manage stop loss.
• Manage stop loss and add on to the position at current levels and manage to the target price of 25839.

Source: Bloomberg

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