Trading with point and figure

[Dentalfloss]

2130 dump
took ftse with it
excellent
dax..our 10404 became rez

 

[Dentalfloss]

2130 dump
took ftse with it
excellent
dax..our 10404 became rez

retest 2130 excellent

 

[swissy]

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Please go away!

Thank you.

 

[Dentalfloss]

6720 rez area on ftse worked well-
and our 2130 spx

 

[Dentalfloss]

2127 is now a rez

 

[Dentalfloss]

2136 a dog

 

[Dentalfloss]

2136 a dog

2130 area still a dog
excellent
could get taken out

 

[Dentalfloss]

spx

 

[Dentalfloss]

For all that this data appeared to disappoint, and will certainly have the FOMC doves 'cooing', there are a number of aspects to take on board:

- Seasonal adjustment looks to be struggling with unseasonal patterns, which in the technological era area are rather more fluid in calendar terms than in days of yore

- Retail Sales - these were weak on Autos (known), gasoline (price), Internet sales, Furniture and Building/Garden Equipment, but there was strength in Clothing (after protracted weakness) and Restaurants, Hotels & Leisure - tending to suggest a holiday pattern effect

- Industrial Production / Manufacturing Output - weakness across the board, with the exception of Mining, Autos and to a lesser extent High tech; all of this following strength in July, again implying a holiday, seasonal shutdown effect

- PPI - as was to be expected after the Import and Export Price readings yesterday, there was a big drag from Food, Energy and to a certain extent Trade Services, however core PPI (ex Food, Energy & Trade) was robust at 0.3% m/m, jumping up to 1.2% y/y from 0.8%; Ex-Trade, Transport, Warehousing +0.5% m/m 1.8% y/y

- NY and Philly Fed surveys - NY roughly as expected, while the Philly Fed headline (which is not a composite) jumped smartly, with a recovery in Orders and Employment sub-indices

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

Marc Ostwald
Strategist
ADM Investor Services International

 

[Dentalfloss]

oil/wti

43.80-44.00 rez area looming

 

[Dentalfloss]

ftse not happy

our 6680 rez area became supp

 

[Dentalfloss]

dax
if supp holds that internal trendline could break
ftse also

10428 and 10476 possibly
lets see

 

[Dentalfloss]

spx needs to pump that 2136 and p/b above 2130

 

[Dentalfloss]

dax
if supp holds that internal trendline could break
ftse also

10428 and 10476 possibly
lets see

we got 10450
excellent

 

[Dentalfloss]

spx

nailed the 2146 area
excellent

 

[Dentalfloss]

p/b to our 2136 rez area
then pump

 

[Dentalfloss]

2150...the big one

 

[Dentalfloss]

dax
if supp holds that internal trendline could break
ftse also

10428 and 10476 possibly
lets see

nailed 10466 good enough for me

 

[swissy]

Morning all.

FTSE looking at my charts; Support areas 6720, 6710 (minor), 6700, 6800. Rez 6760 (big one), 6780, 6800.

Interesting start I think; See if we can get a bounce into rez. Options expiry - how will that affect?

Pre-market holding sp @6720 ish

 

[Dentalfloss]

mornin
nearly the weekend to go and spend pips
spend them...dont keep them in your account