Trading with point and figure

Still doesnt look too convincing to me yet! Thought it would have broken higher by now.
 

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Fun and games tomorrow for US. More fudging of numbers no doubt.
 

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I questioned Dentists Comments for a FOMC report this week..

as on TWO economic report Calenders I looked at did not show one..

as I posted in the link below..

I look at them again today and yahoo is still not showing it, but the other one I looked at has now added it in....

SO Tomorrow could be interesting !

I wonder what the US Indices will do between now and 19.00 hrs Tomorrow and will the market be at highs or lows relative to the present last low made on Jan 4th ..?

will they rerally it , sell it further or keep it between Mondays range ?

On the Dow that would be between about a low of 16950 to a high of about 17245 that was made thru out the night session / early Tues Morning at about 3 am UK time..on a 24 hr chart..

Wednesday Jan 6th Economic Reports

12:00 USD MBA 30-Year Mortgage Rate
12:00 USD MBA Mortgage Applications (WoW) 7.3%
12:00 USD MBA Purchase Index
12:00 USD Mortgage Market Index
12:00 USD Mortgage Refinance Index
12:00 BRL Markit Composite PMI (Dec) 43.8 44.5
12:00 BRL Markit Services PMI (Dec) 44.5 45.5
13:15 USD ADP Nonfarm Employment Change (Dec) 192K 217K
13:30 USD Trade Balance (Nov) -44.00B -43.90B
13:30 CAD Exports (Nov) 42.98B
13:30 CAD Imports (Nov) 45.74B
13:30 CAD Trade Balance (Nov) -2.60B -2.76B
14:30 BRL Foreign Exchange Flows 0.81B
14:45 USD Markit Composite PMI (Dec) 53.5
14:45 USD Services PMI (Dec) 55.1 53.7
15:00 USD Factory Orders (MoM) (Nov) -0.2% 1.5%
15:00 USD Factory orders ex transportation (MoM) (Nov) 0.2%
15:00 USD ISM Non-Manufacturing Business Activity (Dec) 58.4 58.2
15:00 USD ISM Non-Manufacturing Employment (Dec) 55.0
15:00 USD ISM Non-Manufacturing New Orders (Dec) 57.5
15:00 USD ISM Non-Manufacturing PMI (Dec) 56.0 55.9
15:00 USD ISM Non-Manufacturing Prices (Dec) 50.3
15:30 USD Crude Oil Inventories 0.439M 2.629M
15:30 USD EIA Weekly Distillates Stocks 2.027M 1.795M
15:30 USD Gasoline Inventories 2.308M 0.925M
19:00 USD FOMC Meeting Minutes
23:50 JPY Foreign Bonds Buying 147.2B
23:50 JPY Foreign Investments in Japanese Stocks
Click to expand...



http://www.trade2win.com/boards/technical-analysis/183506-trading-p-f-210.html




Moneylender said:
Fun and games tomorrow for US. More fudging of numbers no doubt.
Click to expand...
 
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dowsp said:
I questioned Dentists Comments for a FOMC report this week..

as on TWO economic report Calenders I looked at did not show one..

as I posted in the link below..

I look at them again today and yahoo is still not showing it, but the other one I looked at has now added it in....

SO Tomorrow could be interesting !

Wednesday Jan 6th Economic Reports





http://www.trade2win.com/boards/technical-analysis/183506-trading-p-f-210.html
Click to expand...

DowSP, use this for news releases, tomorrow and Friday are prob the two most important days of every month, NFP!

http://www.forexfactory.com/calendar.php
 
Thanks Moneylender.. I will check that out...

Some reports between 21.00 hrs tonight and 9.30 am Wednesday ...on one calendar that shows World Wide reports...Not Just the USA...

so we have China and the UK..also

*** and ****** showing what seem most important..

16 min KRW FX Reserves - USD (Dec) 368.46B
21.30 **** USD API Weekly Crude Oil Stock 2.900M
22:30 AUD AIG Services Index (Dec) 48.2
Wednesday, January 6, 2016
00:01 GBP BRC Shop Price Index (YoY) -2.1%
01:45 CNY **** Caixin Services PMI (Dec) 52.3 51.2
02:30 HKD Manufacturing PMI (Dec) 46.6
05:00 INR Nikkei Services PMI (Dec) 50.1
07:00 IDR Consumer Confidence (Dec) 103.7
07:15 ZAR South Africa Standard Bank PMI (Dec) 49.6
07:45 EUR French Consumer Confidence (Dec) 95 96
08:15 EUR Spanish Services PMI (Dec) 56.4 56.7
08:45 EUR Italian Services PMI (Dec) 53.6 53.4
08:50 EUR French Markit Comp. PMI (Dec) 50.3 50.3
08:50 EUR French Services PMI (Dec) 50.0 50.0
08:55 EUR German Composite PMI (Dec) 54.9 54.9
08:55 EUR German Services PMI (Dec) 55.4 55.4
09:00 NOK House Price Index (YoY) (Dec) 6.00%
09:00 EUR Markit Composite PMI (Dec) 54.0 54.0
09:00 EUR Services PMI (Dec) 53.9 53.9
09:30 GBP ******* Services PMI (Dec) 55.6 55.9

DowSP, use this for news releases, tomorrow and Friday are prob the two most important days of every month, NFP!

http://www.forexfactory.com/calendar.php
Click to expand...
 
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I really thought this would have gone well over 17200 by todays close. I have a target of
17270 for a swing trade i would like to close!
 
If you look what the Dow has done on 3 past occasions when it found lows at around the 17100 level on Nov 15th..Dec 14th and Dec 18th.. it went on to have good and strong reversals either the next day or within 3 days back up to at least the 17300 / 17400 or higher level..

On this new low made Jan 4th at 16950... that was over 140 pts lower than the past lows. and it initially made a reversal of 300 points.. that made it look like a SPIKE Low..which sometimes can become very strong reversals that do not retrace very much..

but then today it came back down 200 points to the 17040 level...

for it to have done what I class as a good spike Low... I would not have wanted it to drop back down like it did today..

with the FOMC report yet to come on Wednesday... WILL it hang around range bound or reverse again or go to new highs above the last 24 hr high (that was 17245)..

The 38.2% retrace held on the last Aug Low to Nov high range..

But we have a new 4th Low... but the last prior two lows were close together..

so is this maybe a triple Bottom that has formed ?

or if not sometimes 4th attempts continue the direction of the 4th break..ie in this case down..

On another basis.. the last 4th low also makes it maybe looking like a bit of a possible consilidation formation...that may suggest it will reverse back up..

conflicting info !!!
 
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Seems likely that 17180 resistance held..and the China Report was weak..

The Market has declined since and about to retest Monday Lows..

If it clearly breaks below.. I am suspecting it is possibly going to have quite a large decline and my main cycle (Dec 7th) that I indicated was as strong as I initially thought..to maintain a continued decline that may test or break below August 2015 Lows..

Economic reports and data UK time.

07:45 EUR French Consumer Confidence (Dec) 95 96
08:15 EUR Spanish Services PMI (Dec) 56.4 56.7
08:45 EUR Italian Services PMI (Dec) 53.6 53.4
08:50 EUR French Markit Comp. PMI (Dec) 50.3 50.3
08:50 EUR French Services PMI (Dec) 50.0 50.0
08:55 EUR German Composite PMI (Dec) 54.9 54.9
08:55 EUR German Services PMI (Dec) 55.4 55.4
09:00 NOK House Price Index (YoY) (Dec) 6.00%
09:00 EUR Markit Composite PMI (Dec) 54.0 54.0
09:00 EUR Services PMI (Dec) 53.9 53.9
09:30 GBP Services PMI (Dec) 55.6 55.9
09:30 ZAR Business Confidence (Dec) 82.7
10:00 EUR PPI (MoM) (Dec) -0.2% -0.3%
10:00 EUR PPI (YoY) (Dec) -3.1% -3.1%
10:35 EUR German 2-Year Schatz Auction -0.320%
12:00 USD MBA 30-Year Mortgage Rate
12:00 USD MBA Mortgage Applications (WoW) 7.3%
12:00 USD MBA Purchase Index
12:00 USD Mortgage Market Index
12:00 USD Mortgage Refinance Index
12:00 BRL Markit Composite PMI (Dec) 43.8 44.5
12:00 BRL Markit Services PMI (Dec) 44.5 45.5
13:15 USD ADP Nonfarm Employment Change (Dec) 192K 217K
13:30 USD Trade Balance (Nov) -44.00B -43.90B
13:30 CAD Exports (Nov) 42.98B
13:30 CAD Imports (Nov) 45.74B
13:30 CAD Trade Balance (Nov) -2.60B -2.76B

14:30 BRL Foreign Exchange Flows 0.81B
14:45 USD Markit Composite PMI (Dec) 53.5
14:45 USD Services PMI (Dec) 55.1 53.7
15:00 USD Factory Orders (MoM) (Nov) -0.2% 1.5%
15:00 USD Factory orders ex transportation (MoM) (Nov) 0.2%
15:00 USD ISM Non-Manufacturing Business Activity (Dec) 58.4 58.2
15:00 USD ISM Non-Manufacturing Employment (Dec) 55.0
15:00 USD ISM Non-Manufacturing New Orders (Dec) 57.5
15:00 USD ISM Non-Manufacturing PMI (Dec) 56.0 55.9
15:00 USD ISM Non-Manufacturing Prices (Dec) 50.3
15:30 USD Crude Oil Inventories 0.439M 2.629M
15:30 USD EIA Weekly Distillates Stocks 2.027M 1.795M
15:30 USD Gasoline Inventories 2.308M 0.925M
19:00 USD FOMC Meeting Minutes
23:50 JPY Foreign Bonds Buying 147.2B
23:50 JPY Foreign Investments in Japanese Stocks -226.2B
 
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