Anyone scalping the FTSE Futures??

Here is the right chart
271022
 
The US drove both Asian and European markets upwards, itself on low volume so one can say that all markets were rather distorted and moving without much logic. Thu is a holiday in the US, without a lead, I can't be sure whether the upward momentum will be kept in other markets. Friday also is a shortened day in US with volumes again expected to be low.. many "fake" prices will be seen untill Monday when things get back to normal. Expect big moves on any major news as bots will mostly drive prices on headlines.

As for the UJS markets going forward, and considering the fundamentals, Deere is the 1st of the majors to warn of diminishing earning for the 4th quarter and beyond. Despite headlines telling you that reporting beat estimates, it is to be remembered that average earning for the year (so far) are just .14% above 2018, and forward guidance plus the view of economists is for lower earning in the 4th quarter & in 2020. My view is that US markets will gravitate to, at most, the 2018 highs but probably will go below these.

28-Nov-19 Resistance
ASX200 6,901
NIK225 23,687
FTSE100 7,464
DAX30 13,364
MDAX60 27,746
CAC40 5,965
HSI43 27,180
MIB40 23,596
IBEX35 9,425
STOXX50 3,738
DOW 28,280
US Russell 1,640
US SPX500 3,166
US NDAQ100 8,480

Y'day closing price away from an all time high
ASX200 -0.01%
NIK225 -3.61%
FTSE100 -5.91%
DAX30 -2.19%
MDAX60 -0.83%
CAC40 -0.61%
HSI43 -19.36%
MIB40 -5.84%
IBEX35 -16.71%
EU50/STOXX50 -0.46%
DOW -0.030%
RUSSELL2000 -6.25%
SPX500 -0.06%
NDAQ100 -0.06%
WTI Oil -23.63%
 
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I hate these holiday weekends, thanksgiving tops the list... closed Thu, ½ day Fri... Who's going to show up for work Fri morning? Just the bots I guess, and since there was no headline other than "we are close to a trade deal" for the 56th time, there's little that can be said about the market's small dip. (Wonder what it is about Thu and the Americans... they even hold elections on Thursdays, but then also do you guys)(In AU holidays are puched to Fri or Mon and elections held on Sat).

As for trade, I think the mini deal will get done, the stakes of having additional tariffs at 25% are too high for both sides for this deal not to get done, Markets have already priced-in a deal so it is unlikely that there will be a Santa rally.... the rally already happened in Oct & Nov, hard to see what could push markets higher now with PE's around 20, although a no-deal will surely cause a sell-off and a "buy the rumor, sell the fact" could yet happen

If this phase one deal goes through with a truce on tariffs, then I think that's it... China gets all it wanted so we won't see any further trade deals... Trump's agreement to a phase1 rather than push for a comprehensive deal blew his "grate" negotiating skills, he's giving away the levarage with very little in return.... he's been played by the Chinese yet again.

I remain net short US and net long EU. My initial target for the DOW is 26,472

[IMG]


Note 2000: a 25 PE bubble followed by a 42% correction
 
Last edited:
john jackson III said:
trgt = 44
Click to expand...
got out at touch of target yesterday

looking over my charts right now. how could i have done better? what great trade did i didn't take, and why? why didn't i get out sooner when trade went sour?

great sports games aren't won during the GAME, they're already won in practice.
 
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