Wednesday, March 23, 2016

Wed. Mar. 23, 2016 #Uganda shilling and global market report

The Uganda shilling closed at 3370 on the US dollar, 4753 on the British pound, 3766 on the Euro, 33.22 on the Kenyan shilling and 2547 on the Canadian dollar.
Coffee Arabica closed at $3.41 per kilo.
Coffee Robusta closed at $1.73 per kilo.
Mama mia caramba, coffee prices have been creeping up big time.  Were Uganda to take coffee exportation serioulsy for the whole country and not the select few, we would be going places.  Imagine BCU has Arabica and Arabica never fools around on the world market.  Even  then, the Robusta is busting a move.  I love love love it!  Hint, go into coffee.
Gold closed at $1218 per ounce.  I guess it dropped quite a bit since the last report I gave.  Today it lost only $3.50 per ounce but remember yesterday it was around 1250.  The markets are stabilizing and this tends to affect minerals.  Australia and Japan (Shanghai, etc…) are already trading and I am watching the commodities move.
Oil (Brent) fell $1.10 per barrel and cemented that chart pattern I have been talking about that we shall see a pull back.  This is only on the daily chart though.  Canada and USA trade a lot of oil and we have a short week (Friday March 25, 2016 is Good Friday and markets are closed).  Expect another drop on Thursday as some people feel hesitant to leave money on the table for a long weekend.
Shanghai gained 11 points.  The daily chart and weekly chart say this one is moving up.  The thing with the $SSEC is it tends to pull up the other Asian markets of dumpen them.  Tokyo can be an exception and it is the one market that can cause heart attacks.
Hong Kong lost only 2 points.  Looks like the master in Shanghai has decided that the market is going up so play nice.
Tokyo lost 48 points and the daily chart says it is likely to lose some more but looking at the weekly chart, the downfall will be minor.
Frankfurt was a bit undecided.  It gained 33 points but formed a pattern on the daily chart that it is likely to fall for the next few trading days.
Paris lost 8 points but painted the same pattern as Frankfurt.  I am telling you, some cousins, sometimes you do not want to be near them.  The $CAC tends to go in sequence with the $DAX (Frankfurt).  The weekly chart still looks good though and we can call this minor drop “profit taking”.
London gained 6 points.  The daily charts says the $FTSE will go down some but its weekly chart is solid on moving up.  Remember day traders use mostly hourly or day charts but long term investors use weekly (they used to rely on monthly and yearly charts but these days, one cannot be sure.  Who knew Bruxelles was going to be bombed?).
North America:
Toronto – well Houston, we have a problem!  The $TSX crashed below its 200 MA which was its support.  I do not think this is only related to oil.  Yes, it is oil heavy but I think something else is going on.  We still have snow so no one is taking out too much money to go to the beach but get this.  Apparently the deficit for Canada is now projected to be $30 billion this year.  Might have something to do with this bit of bad news.  The $TSX is definitely going down.
Dow Jones Industrial Average lost 80 points but it is still way up above its 200 MA and this drop is nothing for the $INDU.  I have watched this one crash 400 points in one trading day.  I think today’s pull back was profit taking because who wants to go on a 4 day holiday and leave a lot of money on the table.  This one is the chart of the day.  Just notice the white steady candles prior to the 2 small candles.  I would not be caught anywhere shorting this index.
Standard and Poor – oh well.  Same pattern as the DOW.
NASDAQ has not managed to bridge its resistance at the 200 MA and today it lost 53 points.  This is quite a bit given that the other 3 above hardly moved.  Might be time for all of you to buy tech gadgets for your family members and friends.  The Nadaq is techy heavy so please, buy those smart phones, ipads, laptops, etc… For crying out loud, you could even buy an RFID chip for your dog or cat in case they run away from home!
Global News:
Please check The Insider (World News) and keep an eye on my posts wherever you are seeing this article. I share the breaking global news as soon as it hits my computer screen.
Martha Leah Nangalama
Moncton, Canada
Whatsapp +15068716371
I have an IT and business background.  I have traded stocks, mutual funds, index funds, options and forex in the past.

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