Trading with point and figure

[Dentalfloss]

spx

 

[Dentalfloss]

spx chart
do yu wanna short that ??
scalps..yes
no sign of any bears as yet

 

[Dentalfloss]

dax since 20th July

no real sign of any bears

 

[Dentalfloss]

all might get bearish...possibly
we watch the 1 minute for any bearish movement

 

[Dentalfloss]

ftse ..bears got rinsed

 

[Dentalfloss]

ftse

 

[Dentalfloss]

ftse..there aint no break of trend..

 

[swissy]

Morning all,

ftse - had 6890 and 6880 marked as sp. 6880 big one, then 6860.
Rez - 6903, 6912, 6922.
See where the flow is this am (maybe some profit/taking consolidation), could well change with the US open.

 

[Dentalfloss]

ftse is messing about in 6880 area...the big palooka is 6840 supp

6848...firts sign of trouble
a bad bounce from that area and shorts in for a kill

 

[swissy]

ftse - I've noticed bear trap zone has a habit of lurking around 60's - 80's, all depends on the context of course.
I held a short overnight from 6930 so not complaining if it goes to 6840!!

 

[Dentalfloss]

dax over last 48 hours
supp areas marked

 

[Dentalfloss]

- Flash PMIs dominate modest schedule of data, Canada CPI & Retail Sales,
central bank speakers also due, as quarter end 'reach for yield', 'dash for
trash' shreds pre-BoJ/Fed caution

- Eurozone PMIs: seen little changed, focus on manufacturing

- US Manufacturing PMI: will it belatedly follow ISM lower, or mimic
surge in KC Fed Manufacturing index?

- Charts: Charts: 5/30 yr spread, G7 Bonds at a Glance, JPM EMBI spread,
US HY ETF, WTI Oil, KC Fed Manufacturing

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

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

The week ends with something of a damp squib in terms of scheduled data and events. Flash PMIs in Japan, Eurozone and US, and Canadian CPI and Retail Sales will need to spring some substantial surprises to have more than a passing impact. There are a number of Fed and Riksbank speakers, but most are not scheduled to speak on the policy outlook, though they may answer policy related questions from audiences and/or any attending media. Per se the overriding influence will continue to be month/quarter portfolio adjustments, with a rush out of the defensive cash positions that had been established prior to this week's central bank 'event risks' all too evident post Fed - TINA rules OK (There Is No Alternative) would still appear to be the modus operandi of preference for many money managers. As the assembled collection of charts attest, the rush back into every asset class reverses much of the curve steepening, as well as any widening in credit spreads.

** Japan, Eurozone, USA - September 'flash' PMIs **
- While the lessons from the UK PMI's roller coaster ride is very clearly that PMIs are heavily sentiment influenced, and are not per reliable gauges of business activity and flows, this will not stop the usual flow of over-interpretations of even marginal misses relative to expectations. The Japan PMI overnight again highlights how actual orders data has been rather better than surveys have suggested, with the index crawling back above 50.0 after a boost from export orders. As for the Eurozone readings: German Services are expected to edge up after a run of weaker readings, while the Manufacturing PMI is seen catching up with the previous month's Ifo Current Conditions setback, though at 53.1 vs 53.6 still indicating a solid pace of expansion, but still echoing the Finance Ministry's warning that growth will be slower in H2 2016 than H1. The key questions for the French PMIs are whether last month's quite sharp Services rebound to 52.3 (highest since June 2015) has been sustained, and whether yesterday's jump in the national Manufacturing Confidence survey (above all the production outlook indicators) implies an unexpected rebound in the PMI, with the two surveys being not well correlated, above all in month to month terms. As for the US Manufacturing PMI, there was a very sharp divergence between this and the more closely followed ISM reading last month, with forecasters seeing no change at 52.0, despite the ISM falling to 49.4 in August from 52.6 in July. On the basis that yesterday's Sept KC Fed Manufacturing Index jumped to +6 from -4 (see chart), its highest level since December 2014, in a region which has quite a high proportion of energy and agricultural equipment makers, the risks look to be to the upside (though more for the Manufacturing ISM perhaps than today's PMI).

from Marc Ostwald

 

[Dentalfloss]

dax
10625-10633..should be supp there
then 10610-10618

 

[Dentalfloss]

turns a bit nasty if 10662-10670 is rez
if 10600 breaks ..then 10571-10583 supp area

 

[Dentalfloss]

ftes
pivot area marked

 

[Dentalfloss]

turns a bit nasty if 10662-10670 is rez
if 10600 breaks ..then 10571-10583 supp area

bounce into our rez..from our 10640 marked supp area
excellent
stops tightened

 

[Dentalfloss]

dax
10625-10633..should be supp there
then 10610-10618

10640 break..excellent
stops tight

 

[Dentalfloss]

our 10633 area workin well

 

[Dentalfloss]

turns a bit nasty if 10662-10670 is rez
if 10600 breaks ..then 10571-10583 supp area

10662-10670 rez area workin well
excellent
6900 on ftse

 

[Dentalfloss]

morning 007 - another pip filled day for you on the cards?

seems so..rangebound...who cares