Using an ETF to confirm futures price action

Whilst the main news item of the day was the ECB rate statement and associated conference, the significance of this was not lost on US markets which continue to remain weak as the war of words continues between the US and China on trade sanctions. 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 US 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!