The U.K. Stock market
- The U.K. stock market was slightly lower this week.
- A U.S. airstrike killed a leading Iranian general, Qassim Suleimani, escalating tensions in the middle east and sending the price of oil sharply higher. Bonds and Gold also rose.
- Political uncertainty continues to weigh on the UK manufacturing sector which showed the largest deterioration in output in more than seven years.
- Our Breadth indicator stayed positive this week and our Momentum indicator ticked up again.
The U.S. Stock market
- The U.S. stockmarket was slightlty lower in the holiday shortened week.
- Markets reacted positively to a tweet from President Trump on Tuesday in which he indicated he would be signing the initial trade agreement with China on January 15 and then begin work on a “phase two” deal.
- However, news of a U.S. airstrike that killed the Iranian military leader Qassim Suleimani put a dampener on the market at the end of the week.
- Our Breadth indicator stayed positive and our Momentum indicator ticked higher again.
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