Francis Hunt, The Market Sniper, joined Zak Mir on the Tip TV Finance show and discussed the current crash, zooming in on the FSTE 100, the S&P 500 and the USDJPY.
FTSE 100 almost stopped before big move down
Hunt highlighted the FTSE 100 crash retrospectively, noting how it continued to ease, before trying to hang on to a key level before slipping drastically.
S&P 500 had an underlying grind line before fall
Hunt outlined the tale of the S&P 500, which experienced marginally higher highs, with an underlying grind line which signals bulls exhausting themselves. He continued that it broke the low but failed to test the higher high, this was followed by the bulls’ final exhaust, which pointed to a major spill.
Almost impossible to see the red
Hunt commented that the 124/125 level on the USDJPY was the key warning to get out, and exaggerated the importance of looking across charts to identify moves due to enhanced integration in our global economy . He added that it entered a rally and looked for over performance, and Hunt outlined that was almost impossible to see the red.
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