FTSE, DAX, DOW Trading Ideas and discussions

[Dentalfloss]

pumping nicely from our 11490 area

 

[MichaelJohnFX]

better define trend line / channel

 

[Dentalfloss]

our 11578 area might hold it

 

[Dentalfloss]

closed 11570
not hanging around

 

[Atilla]

Tere hommikust (Estonian)

DAX - Daily Chart - PP Levels.


11633 is PP for today.

Looks like it's bouncing off PP-S1 @ 11489 and heading back up to PP.

Key factor about AAPL's results last night is that fall in demand from China may start to feed into Western earnings. Hence, pressure on all indeces and other earnings.

This downward bias likely to continue until earnings show positive rises. Right now most companies over valued wrt historical P/E ratios.

We may see some attempt at retrace to PP but thinking we'll see continued downside pressure.

 

[Atilla]

SPX - Daily Chart - PP Levels.

Coming off resistance from the 2130s which we had approached twice before. Is this third rejection? Not sure if we can confirm a HH either. Looks level to me and few pip difference not much to care for. SPX really needed to breach 2140-50 areas to validate the HHs. Was a long shot. Glowing earnings report from a few companies may have pushed it up but this doesn't appear to be the case.

We are tracing back to test support. I'm thinking 2100 may just hold.

PP @ 2119

PP-S3 @ 2089 signals worry regions.

A retest of 2050 would be just great. Bounce here would confirm sideway move. If it fails then 2000.

I continue to favour further down moves. Short bias continues.

 

[Dentalfloss]

decent pumping this morning
defined areas for scalping

 

[Atilla]

DOW - Daily Charts - PP Levels

Showing similar moves to spx and dax. Coming off major resistance and breach of 18000 did not hold. We are below PP.

PP @ 17947.

Feel we'll test support. PP-S1 @ 17800

Even if we do get some good earning numbers I can't see them taking market up to HHs. We could do with a breather too.

Looking to short the rises.

 

[Dentalfloss]

11578 magnetic

 

[Atilla]

Be interesting how DAX responds to 11600-30 area?

No idea why I went long yesterday. Must stick to system and comfort zone. Wait for rises and only take shorts.

 

[MichaelJohnFX]

Clearer view over 15 - only managed to draw this morning. Still have 520 running - would have been a better entry from 11500 - I've only just seen it - ah well. 620 -650 trend res

Just out.

 

[Dentalfloss]

fed mulling dollar devaluation to help out AAPL...lol

 

[Dentalfloss]

gbp seems to have some strength ??
dollar index just broke to upside
cable was steady
lets see what happens

 

[Dentalfloss]

dax coiling again..possible move ??

 

[Atilla]

HSBC Global Head of FX was on BBG this morning. Thought he spoke a lot of sense.

He highlighted CBanks inflation ambitions and he said he doesn't fight CBs.

He also said UK will wait for the Fed. Underlining inflation.


It should be noted that good few months back it was about the unemployment figure. 6% was quoted as target. Data dependent and all that stuff.

Last speel they specifically said 2% inflation and whilst there is no inflation what reason is there for raising interest rates???

Wages not rising and quality of employment numbers not exactly great.

So perhaps Sept may become December.

Real pigs dinner trying to come off all this QE and cheap cash markets are hooked on. :whistling

 

[Dentalfloss]

nice move off the 11578 area we had marked from last night

 

[MichaelJohnFX]

Time to pump or dump

 

[Cigar]

571 was y/days LOD on FDax and 580 was S3, so quite a strong area.

Recent dip to 525 on FDax is spot on S1

 

[Dentalfloss]

out at 11490
time for a cheese and pickle sandwich

 

[Atilla]

DAX - 1 hr chart

We are testing PP-S1 @ 11489.

Looking over-sold at the moment.

We either bounce-back to PP @ 11633 and try and take it or go down to test support at PP-S2 @ 11413.

I favour the dark side perhaps after a small rise from here. Market likely to wait for US support and how they feel today...