Dentalfloss
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Trading with point and figure
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Dentalfloss
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Dentalfloss
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trap area is 1.3310 area...bulls could get trapped there
Dentalfloss
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mornin folks
Dentalfloss
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SPX in the dog house
Trump again
Trump again
Atilla
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SPX in the dog house
Trump again
Morning Dentist
You think we'll see a bounce?
How low can Stump take it down.
It's all about tariffs now. I think I may have got that wrong and you were right. Good call.
Dentalfloss
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eve
even Naz 100 turned a tad nasty overnight
even Naz 100 turned a tad nasty overnight
Dentalfloss
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1001
think index were in a twilight zone.?disbelief about tariffs
it seems to have dawned on them that it could get nasty
anyways....Naz 100 was overbought...we kept ranting about that
Dentalfloss
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2740 just hit
poss bounce ??
poss bounce ??
Dentalfloss
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sellers...poss tighten stops
Dentalfloss
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SPX
Dentalfloss
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2743 lined up
Dentalfloss
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ftse
7540 is a pivot area
7540 is a pivot area
Dentalfloss
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dumped...only a few taken
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thought 2736 would support it.....
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2736 now poss supp..finally
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- Another thin day for data features only US Housing Starts; plenty of
ECB speakers as Sintra forum continues, but latest escalation of
China/US Trade tensions likely to be the dominant theme; Germany to
sell 2-yr
- China 'teapot' refiner woes raise questions of China crude demand, and
also imply drop in product exports
- Charts: Soybeans, Steel Rebar, Iron Ore, Copper (US) & LME Aluminium
..........................................................................
********************
** EVENTS PREVIEW **
********************
Today is again all about central bank speakers and politics, with the only data item of any significance being US Housing Starts, with expectations centring on a relatively modest 1.9% m/m rebound to a very robust 1.312 Mln SAAR pace. This follows yesterday's dip in the NAHB Housing Market Index to 68 vs. prior/expected 70, and primarily reflects concerns that soaring lumber prices are driving up house prices, and that this may dampen demand given some concerns about affordability, albeit only very modestly. Otherwise the ECB's Sintra forum continues with speeches from Draghi, Lane & Praet and St Louis Fed's Bullard, with ECB's Makuch and Liikanen also holding press conferences. As the German CDU/CSU clash on immigration appears to be ebbing in a rather typical display of Ordnungspolitik, though also underlining that this was primarily a spat related to the Bavarian state elections, rather than the broader EU, Merkel will meet with Macron and their respective cabinets to try and chisel out a common position on numerous reform issues, including immigration, ahead of the end of month EU summit. Eminently all of this may pale into significance given the latest round of an additional $200 Bln of tariffs that the US has threatened China with, which continues to heighten the risk that this escalates to an economically very damaging all-out trade war. The additional $200 Bln that Trump has threatened on top of that if China retaliates again, is in fact impossible, as total China exports to US in 2017 totalled $506 Bln, while the cumulative Trump tariff volume would amount to $550 Bln, but we should be accustomed to Trump's lies and inexactitudes by now, obviously very appropriate for the office of the President of the USA. But it fits well with his observation yesterday that crime in Germany is skyrocketing, when in fact crime hits its lowest level in 30 years in March 2018. Perhaps of rather more importance ahead of the OPEC meeting, and in the context of the Chinese threat to impose tariffs on US energy imports is the news that, it's so-called 'teapot refiners' are struggling following the imposition of a much stricter tax collection regime, which in a number of cases si resulting quite hefty losses on their processing activities, and by extension implies a perhaps substantial drop in demand, as well as a drop in exports of oil products. That said, China's state owned oil companies have been ratcheting back output over the past 6 to 12 months, and should be in a position to up output to make up for any shortfall, even though they also face the same margin pressures to a large extent.
from Marc Ostwald
ECB speakers as Sintra forum continues, but latest escalation of
China/US Trade tensions likely to be the dominant theme; Germany to
sell 2-yr
- China 'teapot' refiner woes raise questions of China crude demand, and
also imply drop in product exports
- Charts: Soybeans, Steel Rebar, Iron Ore, Copper (US) & LME Aluminium
..........................................................................
********************
** EVENTS PREVIEW **
********************
Today is again all about central bank speakers and politics, with the only data item of any significance being US Housing Starts, with expectations centring on a relatively modest 1.9% m/m rebound to a very robust 1.312 Mln SAAR pace. This follows yesterday's dip in the NAHB Housing Market Index to 68 vs. prior/expected 70, and primarily reflects concerns that soaring lumber prices are driving up house prices, and that this may dampen demand given some concerns about affordability, albeit only very modestly. Otherwise the ECB's Sintra forum continues with speeches from Draghi, Lane & Praet and St Louis Fed's Bullard, with ECB's Makuch and Liikanen also holding press conferences. As the German CDU/CSU clash on immigration appears to be ebbing in a rather typical display of Ordnungspolitik, though also underlining that this was primarily a spat related to the Bavarian state elections, rather than the broader EU, Merkel will meet with Macron and their respective cabinets to try and chisel out a common position on numerous reform issues, including immigration, ahead of the end of month EU summit. Eminently all of this may pale into significance given the latest round of an additional $200 Bln of tariffs that the US has threatened China with, which continues to heighten the risk that this escalates to an economically very damaging all-out trade war. The additional $200 Bln that Trump has threatened on top of that if China retaliates again, is in fact impossible, as total China exports to US in 2017 totalled $506 Bln, while the cumulative Trump tariff volume would amount to $550 Bln, but we should be accustomed to Trump's lies and inexactitudes by now, obviously very appropriate for the office of the President of the USA. But it fits well with his observation yesterday that crime in Germany is skyrocketing, when in fact crime hits its lowest level in 30 years in March 2018. Perhaps of rather more importance ahead of the OPEC meeting, and in the context of the Chinese threat to impose tariffs on US energy imports is the news that, it's so-called 'teapot refiners' are struggling following the imposition of a much stricter tax collection regime, which in a number of cases si resulting quite hefty losses on their processing activities, and by extension implies a perhaps substantial drop in demand, as well as a drop in exports of oil products. That said, China's state owned oil companies have been ratcheting back output over the past 6 to 12 months, and should be in a position to up output to make up for any shortfall, even though they also face the same margin pressures to a large extent.
from Marc Ostwald
