Trading with point and figure

[Moneylender]

Picked up a virus this morning on my main pc, so going to be quiet today whilst I clean it up. still here though so keep charts coming 007!

 

[Dentalfloss]

oil/wti broke minor downtrend

 

[Dentalfloss]

a clearer picture

 

[Dentalfloss]

pump or dump 37.20 area

 

[Dentalfloss]

the easiest path of price is up..then let it drop if FOMC is hawkish
lets see what happens

nope...just dumped

 

[Dentalfloss]

a better fix on the dax
new upmove that started this morning..green

breakout is 9975-9982 area/aqua
trend supp in 9961 area
stack of overhead horizontal res looming 10010 then 10038 area

in our 9961 trend supp area

 

[Dentalfloss]

in our 9961 trend supp area

scalps in from that area
tight stop

 

[Dentalfloss]

scalps in from that area
tight stop

stopped out..decent points

why the tank ?

 

[Dentalfloss]

stopped out..decent points

why the tank ?

back in for a bit more
stop tightened

 

[Dentalfloss]

retest 9961
lets see what happens

 

[Moneylender]

stopped out..decent points

why the tank ?

chatter of a #UBS profit warning, doing the rounds....treat with caution

 

[Dentalfloss]

US CPI data continue to highlight growing pricing power

- Headline as expected -0.2% m/m 1.0% y/y (Jan Flat/1.4%)

- Core CPI 0.3% m/m 2.3% y/y above forecast 0.2% / 2.2% (Jan 2.2% y/y)

- Energy key drag on headline down a whopping 6.0% m/m -12.6% y/y, with Gasoline -13.0% m/m -20.7% y/y

BUT core CPI measure is clearly disconnecting, i.e. has the pass through from energy and gasoline gone 'missing in action'?

Apparently, yes:

a) Housing, as measured by OER (Owners' Equivalent Rent), up 0.3% m/m 3.7% y/y
b) Services also up 0.3% m/m for a 2.6% y/y reading
c) Airline Fares, which tracked energy for a long period, UP 0.1% m/m down just 1.8% y/y

If Ms Brainard wants evidence of a sustained pick-up in inflation, those items are a very clear flag.... expect FOMC statement to give clear signal APRIL is a live 'meeting'
from Marc Ostwald

 

[Dentalfloss]

seems to be a hawkish FED on the cards

 

[Moneylender]

seems to be a hawkish ED on the cards

That mean up?

 

[Dentalfloss]

That mean up?

ostwald saying that April rate hike is on the cards..not sure if it happens..but,defo on the cards
could be priced in...could no
those pivot supports we posted on Monday might be important

 

[Dentalfloss]

dax lookin reasonably bullish
data since Draghi

 

[Moneylender]

Dunno, its all being driven by FED at moment

 

[Dentalfloss]

spx.. updated chart
gave us an excellent signal to go short
break of trend and triple-bottom break
now in supp
lets see what happens

 

[Dentalfloss]

spx updated chart
price staying above the red downtrend..seems to be some strength there
lets see ..under an hour to go

 

[Dentalfloss]

dax
updated chart
horizontal supp held