The nervous mood that produced some lively equity market ranges in thin trading at the end of 2018 looks set to continue in 2019, with the mood not being helped by the news that Apple have issued an (unscheduled) profit warning for the first time since 2002. Shares in the US tech giant were sent down 9% in early trading and it’s not difficult to forecast that the Equity market sentiments globally will be taking a heavier swing towards a Bear market. This has also affected the FX markets with the Dollar getting similarly unsentimental treatment to start the year. So is it all bad ? Well, mostly, yes. This is likely to get worse before it gets better and there is no quick fix that can be applied. We feel that the markets are heading for a period of nervous decline, with rallies being short-lived. This year will be far more of a test for Donald Trump’s trade policies, and for the dollar in general. Over in the UK the Government seems committed to trying to obtain the worst possible outcome for everyone as the Brexit deadline looms closer, while in France, President Macron seems to be under the illusion that he is the reincarnation of the Sun King (and we all remember how that turned out). So with these backgrounds in mind there should be no shortage of volatility in those markets, and who knows – they might yet conspire to make Bitcoin (BTCUSD) look like a paragon of stability.