Delta Index, the spread betting company, update us with what they see as potential spread betting targets this morning. Delta Index have picked Aviva and BP shares as potential spread betting targets as both have witnessed Bullish MACD crossover patterns. Aviva is a Buy at 439, a stop has been called for 427 and an initial target suggested at 463. BP is a Buy at 465, an initial take profit has been muted at 487 and a stop loss suggested at 454. Spread betting traders will not have been affected by what was a predictably light volume session in the UK. Indeed, light volumes often result in exaggerated market swings, so it would have been an interesting one for those who had open spread betting positions.After Monday’s disappointments, yesterday’s slate of US corporate earnings provided a degree of support to equity markets everywhere; the UK-specific influences were less easy to discern, especially with some of the nominally defensive groups clustered together at the top of the daily performance lists (food retail +2.3%, telecoms +2.2%, tobacco +1.6%, utilities +1.2%): it did not look like a routine ‘risk on’ day. That was echoed in the small caps where good value was the day’s best-performing style trade.Spread betting traders will now be turning their eyes to this morning’s ‘critical’ (more from a political than a financial markets’ perspective) first estimate of UK first quarter GDP, the CBI’s April quarterly Industrial Trends survey provided some mixed signals. “The overall picture appeared to be one of continued recovery through Q1 with a positive net response of +20 to the quarterly output enquiry (domestic orders +15 and exports +24), the strongest since Q1 1995. However the monthly data for April showed new orders slipping to a negative balance of -11 from +5 in March, as export optimism dipped (see chart of the day),” say Altium Securities.

  Oh, and also a lesson why the Stop Loss is your Friend !

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