Dentalfloss
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DOW
Trading with point and figure
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Dentalfloss
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its just not happening for the bears...scalps yes
no sign of a top...as yet...just rangebound in an uptrend
no sign of a top...as yet...just rangebound in an uptrend
Dentalfloss
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change inputs...much clearer
Dentalfloss
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zoom in on latest uptrend
Dentalfloss
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from that we can see that bears are in with a chance that a top might be forming
no guarantees....lol...lol
no guarantees....lol...lol
Dentalfloss
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range bet ween red and aqua trendline
red is approx 21K
aqua is 20934...ish
a bad bounce off 20934 area and bears could come in
green is 20900 area
red is approx 21K
aqua is 20934...ish
a bad bounce off 20934 area and bears could come in
green is 20900 area
Dentalfloss
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mornin all
its rainin heavily all day....now we have a good excuse to stay indoors and increase our account balance substantially
its rainin heavily all day....now we have a good excuse to stay indoors and increase our account balance substantially
Dentalfloss
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chart posted at 8.41pm last nightzoom in on latest uptrend
Dentalfloss
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posted a few mins later...was asleep when it all happened...lol
Dentalfloss
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Dentalfloss
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it is still not a screamin short...scalps still
all we are doin is testing that horizontal supp.....in an uptrend !!
i will update that chart in a few mins
dow is the lead...so far
all we are doin is testing that horizontal supp.....in an uptrend !!
i will update that chart in a few mins
dow is the lead...so far
Dentalfloss
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updated chart
Dentalfloss
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some big Cahonas could be in 20736 area..if 20.8K breaks
Moneylender
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Morning all, wtf happened overnight?
Dentalfloss
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a closer look
Moneylender
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Support came in at 12700 or just a pip or two below.
Dentalfloss
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wham
1.1122 the high...2 pips out...must do better...lol
Dentalfloss
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coincided with 20826 supp area on dow
dow 20900 then 20924 rez...if it gets there
20866 first
dax and ftse should follow
Dentalfloss
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ftse in 7530 horizontal rez..just tested
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- Emerging US constitutional crisis likely to sweep modest data schedule to
one side; Japan Orders and Australia Wages to digest ahead of UK labour
data; Poland rate decision, German 30-yr sale and EIA inventories also on
tap
- UK labour data: wages set to drop back into negative territory in real
terms, Employment growth expected to stall
..........................................................................
********************
** EVENTS PREVIEW **
********************
For a day which looks to be short of data and events, there are actually a goodly number of highlights, even if levels of financial market activity look to have been largely parked in a morgue with security padlocks attached. That said, the emerging constitutional crisis triggered by Trump's sacking of former FBI chief Comey looks likely to be the talking point of the day, and his position appears to be increasingly very impeachable, which would be a very sad indictment of US politics, regardless of whatever might think of Trump. In data terms, there are the overnight Japan Machinery Orders and Singapore exports ahead of UK labour market data and final Eurozone CPI, but it will be a blank day for US statistics. While the Singapore Exports data are always worthy of some scrutiny, the biggest story coming out of the city state may well be this potentially colossal fintech driven initiative for the still rather "analogue" world of trade finance "Singapore fintech firm says launches first digital platform for trade finance assets" http://www.reuters.com/article/us-asia-tradefinace-idUSKCN18C0VM. Be that as it may, on the central bank front, Poland's National Bank is expected to leave rates and policy guidance on hold today, with perhaps broader interest in a speech by BoE chief economist Andy Haldane, in the wake of last week's Inflation Report and this week's run of inflation and labour data. In truth, the speech may prove to be something of a rehash of last week's rather unenlightening, and certainly credibility poor, Inflation report and press conference, above all given the ongoing election process, but Haldane has a reputation for the occasional surprise. In terms of the Japan Machinery Orders data, the 1.4% m/m increase was not only lower than expected, but also left Orders down 1.4% q/q implying some downside risks to tonight's Q1 GDP forecast, above all expectations of an already poor -0.5% q/q in Business Spending. The more discouraging aspect was the expectation that the decline in Orders will accelerate to -5.9% in Q2. The series may be volatile, but the current trend is very soft, and with Personal Consumption weak, the profile of domestic demand is very discouraging, above all given the signal failure of the Abe govt to implement any form of meaningful reforms. Last but not least, the EIA oil inventories data will be closely watched, after a surprise rise in API Crude Inventories of 882K bbls against forecasts of a 2.5 Mln draw. On markets, the risk is that the deeply engrained 'buy the dip' mentality of the NIRP/ZIRP/QE era could be facing its Waterloo, given that a key ingredient is always unadulterated complacency, which has been all too plane to see in recent weeks and months.
** U.K. - March/April Labour data **
- Claimant Count data continues to be dogged by changes to eligibility for benefits due to the introduction of the 'Universal Credit', and as such is best ignored. The ILO and FLS data for January-March is forecast to see the Q1 Unemployment Rate unchanged at 4.7%, while Q1 FLS Employment growth is seen stalling with a modest +21K after +38K in the Dec-Feb period, though hardly surprising given the ostensible proximity to "full" employment. However this will be seen as very much secondary to the Average Weekly Earnings readings which are seen fractionally higher at 2.4% y/y in headline terms and unchanged ex-Bonus at 2.2% y/y, and in the wake of the 2.7% y/y CPI and 3.5% y/y RPI yesterday, this would confirm that real wages are now firmly back in negative territory.
from Marc Ostwald
one side; Japan Orders and Australia Wages to digest ahead of UK labour
data; Poland rate decision, German 30-yr sale and EIA inventories also on
tap
- UK labour data: wages set to drop back into negative territory in real
terms, Employment growth expected to stall
..........................................................................
********************
** EVENTS PREVIEW **
********************
For a day which looks to be short of data and events, there are actually a goodly number of highlights, even if levels of financial market activity look to have been largely parked in a morgue with security padlocks attached. That said, the emerging constitutional crisis triggered by Trump's sacking of former FBI chief Comey looks likely to be the talking point of the day, and his position appears to be increasingly very impeachable, which would be a very sad indictment of US politics, regardless of whatever might think of Trump. In data terms, there are the overnight Japan Machinery Orders and Singapore exports ahead of UK labour market data and final Eurozone CPI, but it will be a blank day for US statistics. While the Singapore Exports data are always worthy of some scrutiny, the biggest story coming out of the city state may well be this potentially colossal fintech driven initiative for the still rather "analogue" world of trade finance "Singapore fintech firm says launches first digital platform for trade finance assets" http://www.reuters.com/article/us-asia-tradefinace-idUSKCN18C0VM. Be that as it may, on the central bank front, Poland's National Bank is expected to leave rates and policy guidance on hold today, with perhaps broader interest in a speech by BoE chief economist Andy Haldane, in the wake of last week's Inflation Report and this week's run of inflation and labour data. In truth, the speech may prove to be something of a rehash of last week's rather unenlightening, and certainly credibility poor, Inflation report and press conference, above all given the ongoing election process, but Haldane has a reputation for the occasional surprise. In terms of the Japan Machinery Orders data, the 1.4% m/m increase was not only lower than expected, but also left Orders down 1.4% q/q implying some downside risks to tonight's Q1 GDP forecast, above all expectations of an already poor -0.5% q/q in Business Spending. The more discouraging aspect was the expectation that the decline in Orders will accelerate to -5.9% in Q2. The series may be volatile, but the current trend is very soft, and with Personal Consumption weak, the profile of domestic demand is very discouraging, above all given the signal failure of the Abe govt to implement any form of meaningful reforms. Last but not least, the EIA oil inventories data will be closely watched, after a surprise rise in API Crude Inventories of 882K bbls against forecasts of a 2.5 Mln draw. On markets, the risk is that the deeply engrained 'buy the dip' mentality of the NIRP/ZIRP/QE era could be facing its Waterloo, given that a key ingredient is always unadulterated complacency, which has been all too plane to see in recent weeks and months.
** U.K. - March/April Labour data **
- Claimant Count data continues to be dogged by changes to eligibility for benefits due to the introduction of the 'Universal Credit', and as such is best ignored. The ILO and FLS data for January-March is forecast to see the Q1 Unemployment Rate unchanged at 4.7%, while Q1 FLS Employment growth is seen stalling with a modest +21K after +38K in the Dec-Feb period, though hardly surprising given the ostensible proximity to "full" employment. However this will be seen as very much secondary to the Average Weekly Earnings readings which are seen fractionally higher at 2.4% y/y in headline terms and unchanged ex-Bonus at 2.2% y/y, and in the wake of the 2.7% y/y CPI and 3.5% y/y RPI yesterday, this would confirm that real wages are now firmly back in negative territory.
from Marc Ostwald
