Quick Market Update PnL 25th July 2018

Two of the FANG stocks - Netflix and Facebook have reported Q2 earnings respectively. And they were both down massively after the reports came up. Facebook is down over 20% in aftermarket. I expected all this would happen if you have been reading my posts, I have been shorting the US stocks quite heavily.

The same thing will be happen to Amazon and Apple which is due after today's close and Apple next Tuesday. Therefore it is a perfect time to short the NASDAQ 100. Currently sitting at 7400 at the time of writing. Overall I am calling a down year for US stocks. Such fall is already seen in other stock markets especially in Asia. With the US stocks finally catching up, this will only accelerate the global stock market downturn.

ECB's interest rate decision will be a non event today, I continue to hold my bearish case on Euro unless EURUSD breaks above 1.1850.

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