Trading Sep Futures with a Long bias based on the thesis: US DJ, S&P rally seems to be peaking on its post-COVID rally. ECO data out from the US generally seems strong as well.
Believe that international indices like NIFTY and STOXX will follow-suit.
Risk: Most of the rally has been done, hence watch for range trading from now till Sep.
Average price Sep 18'20@3,360. EU leaders are gathering to discuss stimulus measures but are not yet coming to a consensus. I believe that they want to do something so markets may remain flat or inch upwards in anticipation. I will build a small position as diversification from my larger NIFTY position and as a bet that EU leaders eventually reach a consensus. Currently, news-flow indicate a rotation into EM economies.
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EU leaders reach an agreement. Added more in Asian hours in anticipation for Europe.