Trading with point and figure

[Dentalfloss]

NAZ 100

 

[counter_violent]

NAZ 100

Hmm, that chart looks an awful lot different without tails, so not sure of the relevance of the 50% figure.

 

[Dentalfloss]

DAX

 

[inzimam]

Morning. Are we at Dax rez

 

[Dentalfloss]

Hmm, that chart looks an awful lot different without tails, so not sure of the relevance of the 50% figure.

Morning Jeff
i am glad of criticism..gettin a bit lonely here
it is a close plot..hourly close is plotted..not highs or lows....less noise#

the 50%...I can easily make that upmove/green into a pole by changing the inputs
50% is critical area of that pole for the bulls ...otherwise its a fake
AAPL after the bell

 

[Dentalfloss]

Morning. Are we at Dax rez

11.5 K lining up

 

[Dentalfloss]

DXY

updated

 

[Dentalfloss]

11520-11538 could be rez area
otherwise 11574-11592 ..ish

 

[Dentalfloss]

on those inputs it seems to be approaching a wide rez area
11

11538-11820

 

[Dentalfloss]

Lets see what happens..... Could be wrong

 

[Dentalfloss]

lined up

 

[Dentalfloss]

Ostwald, Marc
09:30 (12 minutes ago)
to Marc

- Manufacturing PMIs/ISM dominate, US Auto Sales and Construction Spending
also due; BoE and CNB rate decisions, and plenty more corporate earnings

- UK Manufacturing PMI: further dip expected, but overall still relatively
robust in the face of array of Brexit uncertainties

- BoE: forecast tweaks in focus, but set to stress that Brexit outcome
critical, rendering outlook highly contingent

- US Manufacturing ISM: modest dip expected, but overall still very strong;
focus on Orders, Employment and Prices

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

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

A new month gets under way and as ever the day's schedule is dominated by Manufacturing PMIs , with US Auto Sales the other statistical item of note, aside from another deluge of corporate earnings. There are rate decisions in the UK and Czech Republic, with a smattering of Norges Bank speakers the only items of note in terms of the events schedule. The Czech National Bank is seen hiking rates a a further 25 bps to 1.75%, with growth on a solid trajectory, a super tight labour market and slightly above target inflation, and a recently quite soft CZK vs. EUR offering a a very solid rationale for a further hikle, that would bring the cumulative tightening to 170 bps over the past year, and the likelihood that the CNB will signal that rates will continue to rise going forward.

** U.K. - BoE raet decision **
- Very unsurprisingly, the BoE is expected to hold rates at 0.75%, with the next rate hike pencilled in for May 2019, though obviously heavily subject to what emerges from the current Brexit negotiations, with the overnight report that a tentative UK/EU 'deal' has been struck on the key area of financial services clearly encouraging, though as ever the details of such a deal will be key. While the Treasury modestly downgaded its 2018 GDP forecasts in Monday's Budget, the consensus in terms of today's inflation report is for no more than the odd 'tweak' to the BoE's forecast, which are obviously heavily contingent on the outcome of Brexit negotiations. BoE speakers have largely erred to a modestly hawkish narrative, stressing that with the labour market being very tight, there is little slack left in the economy, and with a potential growth rate of no more than 1.5%, and inflation slightly above target, a continued shallow rate hike trajectory remains valid.

** World - Oct Manufacturing PMIs **
- The run of Asian and European PMIs thus far underline the point that while businesses are clearly very concerned about the impact of trade tensions and tariffs, the impact on actual business activity looks very modest thus far. Where weakness is being seen, the drivers are largely domestic, be that in China where the environmental and leverage clampdown and the hefty corporate debt overhang continues to weigh heavily, or Germany where the auto sector and the very badly managed Energiewende (transition to environmentally friendly energy) are exercising a big drag. For the UK PMI the question is whether it echoes last week's collapse in the CBI industrial trends' business optimism, with consensus looking for a drop to a still very respectable 53.0 from September's 53.8. Across the pond the Manufacturing OSM is seen modestly lower at a very robust 59.0 from September's 59.8, i.e. towards the lower end of what has been a relatively tight 57.3 to 61.3 range year to date, with the focus as ever on Prices Paid (seen rebounding to 69.0 from September's 66.9), New Orders (last 61.8) and Employment (last 58.8) ahead of tomorrow's monthly labour market report.

from Marc Ostwald

 

[Dentalfloss]

11.5 K lining up

our line became support

 

[Dentalfloss]

11556 area is a rez...there now

 

[Dentalfloss]

lined up

 

[Dentalfloss]

11520-11538 could be rez area
otherwise 11574-11592 ..ish

11574 hit

 

[Dentalfloss]

Dow into the open
a poke into mega rez
and on a poss fake

in our rez area now
will it hold..??

 

[Dentalfloss]

lined up

updated
our line became support

 

[Dentalfloss]

11574 hit

worked well
stops tight now

 

[inzimam]

worked well
stops tight now

looks like it might head back o 11500