Whilst the main news item of the day was the ECB rate statement and associated press conference, the significance of this was not lost on U.S. markets which remain weak as the country's war of words with China on trade sanctions continues. The doveish comments of Draghi coupled with the very weak economic picture was enough to drive the euro lower and with momentum, with this negative picture then crossing the pond to be reflected in U.S. markets.
Once again we had some great volume price analysis lessons for index traders, whilst also considering the ETF as a mechanism to provide an alternative view. Using an inverse ETF provides the mirror image view of volume price analysis which really does provide a different perspective from the other end of the telescope.
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