Trading with point and figure

[Moneylender]

My take on the DAX, waiting for some direction Monday is best.

 

[Moneylender]

Morning all.
Didn't quite get to 12840.

 

[Moneylender]

Trying a cheeky long down here!

 

[Moneylender]

Morning all.
Didn't quite get to 12840.

Stop set with some profit.

 

[Moneylender]

Closed at 12910, that's my daily target done!!

 

[Moneylender]

Expected a pull back at London open, guess I was wrong, never mind.

 

[Moneylender]

Resistance at 12970, let's see.

 

[Moneylender]

Resistance at 12970, let's see.

Stop to plus 1 now, have to go out so will let it run.

 

[Dentalfloss]

mornin folks

 

[Dentalfloss]

slightly bigger picture...bulls have some control

that pivot area is important

12850....whammo
excellent start to the week

 

[Dentalfloss]

- Japan Trade data to be digested on otherwise modest day for data, Draghi
testimony the highlight on the central bank front; politics set to
dominate as German coalition talks collapse

- Germany: all eyes turn to President Steinmeier; deep divisions visible in
coalition talks suggest that fresh elections may be the only viable option

..........................................................................

********************
** EVENTS PREVIEW **
********************

A rather quiet day in terms of scheduled data and events gets the new week under way, with Draghi's quarterly testimony to the European parliament's economic and monetary affairs committee the likely highlight, while the data schedule has German PPI and the weekend property prices to digest ahead of the monthly activity data 'dumps' from Poland and Russia. The collapse of the German coalition talks and Hammond's weekend TV interview ahead of this week's UK Budget will likely be the other talking points. So where to now for Germany? President Steinmeier (SPD) will have to decide whether it is worth trying to persuade his SPD colleagues to row back on their refusal to enter any coalition talks, which seems highly improbable given the SPD is in turmoil after their worst ever federal election showing. He could also see whether a minority government might work, though the failed coalition talks suggest that neither a CDU/CSU/FDP or a CDU/CSU/Green minority govt would last very long. That leaves fresh elections as perhaps the most likely outcome, though with a high risk that the balkanisation of German politics becomes even worse, particularly if the AfD were to increase their share of the vote, though the latest opinion polls suggest little change vs the September 24 result. For the rest of Europe, the simple point is that the German caretaker govt will not be in a position to engage in any serious negotiations on Brexit, or reforms of the Eurozone or EU. That said, the rather tetchy and fragile tone in risk markets will hardly be helped by these developments in Germany, particularly with optimism on any near term passage of US tax reforms fading quite rapidly.


from Marc Ostwald

 

[Dentalfloss]

12856 the low....we had 12850 marked
improvement needed...lol

 

[Dentalfloss]

zippp....straight into our 12950 prev supp area marked on the chart

 

[Dentalfloss]

ahem....12942-12951 we marked
overshot to 12970...no complaints

 

[Dentalfloss]

dax can give yu an overshoot

 

[Dentalfloss]

12941-12950 prev supp area needs to be supp...ish

 

[Dentalfloss]

12900-12912 is a supp area if 12940 fails
was prev breakout area

 

[Dentalfloss]

p/b to our 12940....and whammo

 

[Dentalfloss]

12941-12950 prev supp area needs to be supp...ish

12941 held

 

[Dentalfloss]

dow 23313 for a p/d
there now