FTSE, DAX, DOW Trading Ideas and discussions

[Dentalfloss]

big horizontal supp at 11135 area
then 1120 trend supp

 

[Dentalfloss]

a new downtrend started on 1 min
same on spx

 

[Dentalfloss]

11170 area we had marked
will it be support or res ??

 

[Dentalfloss]

a new downtrend started on 1 min
same on spx

decent scalps

 

[MichaelJohnFX]

11170 area we had marked
will it be support or res ??

Great trade to learn from for me. Weak bounce off that sup. Shorts in for the kill on the minor bounce to 11180.

 

[Dentalfloss]

11150 ish stopped that minor downtrend
now what
2080 was the breakout on spx..that seemed to hold on pullback

 

[Dentalfloss]

Cable lookin for a breakout..upwards
30 min candle

 

[Dentalfloss]

11170 area is magnetic

 

[Atilla]

DAX skirting PP imo @ 11139.

Marked your magnetic line in green.

BB narrowing. Setting up for a bounce up I reckon. 11300 looking like hot pooh to me. If I was a fly I'd buzz over there pronto.

Will wait for US open and numbers.

Wet here, we've had a brief summer shower. Cool after the dry heat yesterday. Idling along.

:whistling

 

[Dentalfloss]

nfp numbers...does that mean a rate rise sooner ??
no wage growth ??

 

[Atilla]

nfp numbers...does that mean a rate rise sooner ??
no wage growth ??

Weak numbers.

Much later rather than sooner imo.

Slow numbers and not much wage growth.

Quality of jobs also questionable.


I concur with Mr Faber, they'll come up with some feeble excuse not to raise it.

 

[Atilla]

Draghi speaking today @ 4:10... :idea:

 

[MichaelJohnFX]

Draghi speaking today @ 4:10... :idea:

Never knew I was speaking - thanks for letting me know. FYI, I'll be rewarding the markets as I always do. May say something to the effect of more QE

 

[Atilla]

Never knew I was speaking - thanks for letting me know. FYI, I'll be rewarding the markets as I always do. May say something to the effect of more QE

I think 11200 is having a breather and about to test support down to PP.

I still hold the view 11300 - R1 needs to be tested.

Opportunity to go long coming up. Fingers on the trigger

 

[Dentalfloss]

Comment:
While this was not a fundamentally 'weak' jobs report, it has enough points of weakness for markets to push back a little on "lift-off" expectations, allow the belly of the UST curve to outperform while keeping the 10yr yield in its 2.25/2.50% trading range, and to reverse some of the recent bounce in the USD. Headline Payrolls were broadly in line with forecasts, and still slightly above the 208K 6-month average. Interestingly, even peculiarly, the net 60K 2 month downward revision to April & May was heavily predicated by govt Jobs (revised down net 31K).

The fall in the Unemployment Rate to a new cyclical low of 5.3% of was the "wrong sort" of fall, in other words due to a 432K fall in the labour force, which also saw the Underemployment Rate fall to 10.5% from 10.8%, and rather more ominously seeing the Labor Force Participation Rate fall to 62.6% - the lowest level since 1977.

As for Average Earnings, a flat reading m/m and a downward revision to 0.2% from 0.l3% for May, saw the y/y rate decelerate quite sharply to 2.0%, though there is the oft cited problem of an extra working day for June. Be that as it may, there is no evidence of any wage pressures.
from Marc ostwald

 

[Atilla]

http://www.marcfabernews.com/


Worth listening to Faber on this video at this link.

My sentiments 100%...

 

[Atilla]

Are we seeing SPX turn?

Sell limits set all the way down to 70s.

 

[Anon1]

Hi All,

In for a shot.

Long DJIA @ 17783

Stop (manual) @ 17750

Target 17830 or higher - manual limit

 

[Dentalfloss]

spx over the last week

trend support is at 2073
price looks to want to pop upwards
chart plots the close
new trend/green started yesterday after we tested 2058 area horizontal support
2068 area is the spot for a fake bearish signal
r

 

[Anon1]

Hi All,

In for a shot.

Long DJIA @ 17783

Stop (manual) @ 17750

Target 17830 or higher - manual limit

Stop set to B/E