Trading with point and figure

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blue or green..??

 

[cantagril]

Taken a punt on EasyJet at 1410 on the basis of sizeable support around 1400. No TP atm but thinking of 1450 possibly.

Now 28ish. Stop to +1

 

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Oil in a pivot area

 

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gettin a tad overbought

 

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Good Morning: The Long & the Short of it and The Bigger Picture - 27 January 2020 - ADM ISI

Inbox

x

Ostwald, Marc

08:36 (53 minutes ago)

to Marc

- Escalating Coronavirus spread dominates; German Ifo, US New Home Sales
& Dallas Fed Manufacturing top modest data run amid LNY Australia Day
holidays; digesting Italy regional elections, also awaiting ECB's Mersch;
US to sell 2 & 5-yr

- From greed to fear, Coronavirus a sharp reality check for financial markets

- Germany Ifo: further recovery expected, paced by expectations recovery

- US New Home Sales: further gain expected, boost from low existing home
inventories

- Audio preview:
https://www.mixcloud.com/MOstwaldADM/adm-isi-morning-call-27-january-2020/

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

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

As the news on the escalating spread of the Coronavirus dominates, and with much of East Asia and Australia closed for public holidays, it will be a very subdued start to the week. In the Euro area, it gets under way with Germany's Ifo survey, with a further recovery expected to 97.0 from December's 96.3, paced largely by Expectations (94.9 vs. Dec 93.8), and doubtless some hope of an upside surprise given the better than expected PMIs, even if the usual warning about the 'read across' on a month to month basis being unreliable. There is also Sunday's election result in Italy's Emilia Romagna region to digest, which saw PD clinging onto power thanks to a near total collapse in support for M5S, and despite a surge in votes for Lega, which score a thumping in in the traditionally right leaning region of Calabria. The result at least staves off any immediate prospect of a general election, though it hardly bodes well for the functioning of the PD/M5S governing coalition. The ZAR will also be in focus as local weekend media reports (timeslive.co.za) that "the ANC is proposing a dramatic change to a constitutional amendment allowing expropriation of land without compensation, in a move that effectively cuts out the courts and gives a "land tsar" almost unlimited powers." Ahead lie US New Home Sales which are forecast to follow November's 1.3% gain with a 1.5% m/m, doubtless benefitting from the low level of Existing Home Sales inventories, and continuing to underline a very solid activity profile for the US Housing Sector. By contrast the Dallas Fed Manufacturing Activity is seen registering a fourth consecutive month in negative territory at -1.6 vs. Dec -3.2, with the general manufacturing malaise combining with teh struggles of smaller and medium sized shale oil producers and service providers. Testimony from EC officials to the European parliament may attract some attention given the debate around the financing and funding of climate change initiatives, as well as some national and the 2021-2017 EU budget; there is also some ECB speak from Mersch, and the US kicks off this week's refinancing with 2 and 5 yr T-Note sales.

FYI - Coronavirus tracker map: https://gisanddata.maps.arcgis.com/apps/opsdashboard/index.html#/bda7594740fd40299423467b48e9ecf6

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+++ On a separate note, stuck for something to do on Monday night? +++
This may be of interest (with my participation):
"The 'N@ked Short Club' features discussion about alternative investments, markets, the economy, with heady music and poetry. Live from El Muro Del Presidente Loco in El Casillero Del Diablo in Texas border country on Monday, January 27 from 9-10pm on Resonance FM: 104.4FM within London, on Digital/ DAB in London, Brighton and the English South Coast and also accessible worldwide via www.resonancefm.com . Downloads are available on MixCloud."

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virus tracker map

 

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Dax
1 month of data

 

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gettin a tad oversold

 

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Now 28ish. Stop to +1

...and stopped out for +1
Now 1410. Missed 1400. Will get in again if we revisit.

...and also got stopped on my STOXX -70

 

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