Webinar Recap: Global Market Analysis With Ashraf Laidi
Today we brought back Ashraf Laidi to our weekly webinar, a foreign market expert who’s appearance couldn’t have come at a better time (looking at you, China). Ashraf is the Chief Global Strategist at City Index / FX Solutions, founder of Intermarket Strategy Ltd., and author of “Currency Trading & Intermarket Analysis.” His main focus is on foreign exchange and global macro developments pertaining to central bank policies, sovereign debt and intermarket dynamics (commodities, equity indices, and global bond yields).
China’s Impact on the Economy
We dove right into a great discussion and analysis of the global markets. Ashraf talked about the recent China devaluation, specifically, the mechanics and reasons behind it. Yes, it looks bad for the US economy down the road – and the rest of the world, too. Deflation is being exported, and that puts the Fed in a bind.
His charts showed how the Chinese have been slowing down, and why they came in and de-valued the yuan. However, it’s more a story of their slowing economy and trying to get in front of it before they fall apart completely.
Ashraf talked at length about Europe and the recent Greece debacle, which he correctly predicted would end in an agreement – but the recent slide in commodities could be damaging to many countries.
Market Action
China changed the landscape this week. Investors were selling stocks rather than buying protection, which is out of character. Breadth has been awful, the VIX rose smartly (but not as much as expected), sentiment continues to remain sour, and puts/calls rose.
Despite the wobbly week, we had a surprising chart of the week: Buffalo Wild Wings, which is flying high and straight past almost everyone.
Bob Lang and Ashraf Laidi discuss the markets, options trading strategies, charts and technicals, and take questions:
Watch the webinar to learn what you missed!
If you love the insights you gained in this webinar, don’t miss your chance to join us live. Each week I host a FREE options trading webinar during to discuss recent market action, current plays and charts of interest, along with the trends that may affect future action. Join us live and get your chance to ask your own trading questions!
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