Trading with point and figure

[Dentalfloss]

into chronics 9700 area..excellent

 

[Dentalfloss]

into chronics 9700 area..excellent

and dump

 

[Dentalfloss]

into our 2085 rez
and dump

 

[Dentalfloss]

gbp crosses...dump
marked earlier

 

[Dentalfloss]

Carney..hint of a rate cut next month
Ostwald saying ..more QE first

Well if Mr Carney was vociferous in warning about economic risks before the referendum,, he has nailed his colours to the post with this speech. One should take some care in assuming that there will be a rate cut immediately, the MPC might rather opt for more QE to accompany the move to have weekly rather than monthly term repo operations, but clearly it is a possibility. It is worth noting his observation that if interest rates go too low, this will hit bank profits and potentially constrict credit availability. The massive criticism of the UK body politic “plan beats no plan” is withering, and there was a clear warning on messing with fiscal sustainability and the BoE’s mandate. It was also interesting to note that he questions “boost from weaker GBP” for exports due to uncertainty. But these comments look to be a case of pouring oil on the fire of the Leave vote, and can hardly be termed as reassuring.

While some markets may rejoice at the prospect of more “easing” (aka stimulus), there will be a lot of criticism that he has undermined confidence even more with his comments, above all GBP, when he should be looking to soothe investors, particularly after another shambolic display of the current state of UK politics. I would not be surprised of there may be even some politicians who call for him to be sacked – that would be a stupid idea, especially given there are no hands on the tiller of government, but….
from Marc Ostwald

 

[Dentalfloss]

dax finally caught FTSE

 

[MichaelJohnFX]

Money, Was looking more for this. Breaks in to Fake capital, for Swing failures. This is obviously combined with other analysis though.

Straight into fake capital. Will decide tomorrow whether it's time to go short.

 

[Dentalfloss]

bull flag on dxy workin well

 

[Dentalfloss]

spx

 

[Dentalfloss]

2094 area is rez
market has regained nearly all of its dump

 

[Dentalfloss]

spx
might hit that rez area very soon

 

[Dentalfloss]

2107-2114 area

 

[Dentalfloss]

Mornin folks
Independence day weekend......not for UK......the USA

 

[Dentalfloss]

dax 1 minute data over last 48 hours

 

[Dentalfloss]

goin either way
mega supp area at 9584
possibly bulls need to get tested first..lets see

 

[Dentalfloss]

spx 1 min data over last 48 hours

should be 2086 on chart

 

[Dentalfloss]

2100 rez and 2107..then 2114
could be on the cards
not a screamin short
should be lots of volatility for us

 

[Dentalfloss]

bounce from our 9712....excellent
stop tightened
2093 area is horizontal supp on chart posted/not marked

 

[Dentalfloss]

DXY/dollar index

 

[Dentalfloss]

only thing i can think of...dollar gets more bullish..risk off..index down
any thoughts ??
we shall see if dxy pops that purple horizontal...96.36...it is also a prev supp area on chart