Dentalfloss
Legendary member
- Messages
- 63,404
- Likes
- 3,726
Trading with point and figure
- Thread starter Dentalfloss
- Start date
- Watchers 90
Dentalfloss
Legendary member
- Messages
- 63,404
- Likes
- 3,726
Dentalfloss
Legendary member
- Messages
- 63,404
- Likes
- 3,726
DBK rallied on Friday from 10.00 to 11.68......brought all index with it
closed today
closed today
Dentalfloss
Legendary member
- Messages
- 63,404
- Likes
- 3,726
DBK
Dentalfloss
Legendary member
- Messages
- 63,404
- Likes
- 3,726
Dentalfloss
Legendary member
- Messages
- 63,404
- Likes
- 3,726
ftse since 27/09
Dentalfloss
Legendary member
- Messages
- 63,404
- Likes
- 3,726
Dentalfloss
Legendary member
- Messages
- 63,404
- Likes
- 3,726
2173-2175 horizontal rez area
2171 trend res
2164-2166 supp area
2160-2163 supp area
then 2155 area
2171 trend res
2164-2166 supp area
2160-2163 supp area
then 2155 area
Dentalfloss
Legendary member
- Messages
- 63,404
- Likes
- 3,726
uptrend intact
Dentalfloss
Legendary member
- Messages
- 63,404
- Likes
- 3,726
dax in supp
Dentalfloss
Legendary member
- Messages
- 63,404
- Likes
- 3,726
posted at the weekendFtse on Friday
pivot area marked
Germany closed on Monday for beer and Deutsche bank
6894..excellent
Dentalfloss
Legendary member
- Messages
- 63,404
- Likes
- 3,726
finally goin down
Dentalfloss
Legendary member
- Messages
- 63,404
- Likes
- 3,726
finally...goin downgbpjpy
rez is 131.50...wrong annotation on chart
Dentalfloss
Legendary member
- Messages
- 63,404
- Likes
- 3,726
dumped at our marked rezcable in a pump or dump zone
excellent
Dentalfloss
Legendary member
- Messages
- 63,404
- Likes
- 3,726
ftse..excellent movement from our 6894 marked area
Dentalfloss
Legendary member
- Messages
- 63,404
- Likes
- 3,726
dax and ftse in the dog zone
above 6950 and 10550
above 6950 and 10550
Dentalfloss
Legendary member
- Messages
- 63,404
- Likes
- 3,726
6960 and above could be a dog
pound gettin hammered...might go higher
pound gettin hammered...might go higher
Dentalfloss
Legendary member
- Messages
- 63,404
- Likes
- 3,726
6960..pump or dump..in that zone now
p/b needs to saty above 6920 area
p/b needs to saty above 6920 area
Dentalfloss
Legendary member
- Messages
- 63,404
- Likes
- 3,726
- Manufacturing PMIs in focus along with US Auto Sales and Construction
Spending; UK Conservative party conference in focus as May sets deadline
for Article 50 trigger
- UK Manufacturing PMI: after July, August volatility, some stabilization
expected; Irish PMI hints at modest downside risks
- Eurozone PMIs: scope for upward revisions, following strong Ifo and
national surveys; focus on Spain and Italy
- US Manufacturing ISM: modest bounce expected after August slide,
anecdotal evidence suggests some upside risks
- US Construction Spending: set to eke out small gain, non-residential
drag expected to moderate
- Charts: various CFTC energy futures positioning
..........................................................................
********************
** EVENTS PREVIEW **
********************
The various holidays will see thinner trading conditions to kick off Q3, featuring the overnight Q3 Tankan from Japan (overall disappointing and implying sluggish outlook), the usual mix of Manufacturing PMIs, US Construction Spending and Auto Sales featuring on the statistical schedule, while the Tory party conference is the main item on the policy events agenda. The weekend announcement that Article 50 will be triggered by March 2017, and that there will be an omnibus bill to repeal EU laws and convert them into UK laws confirms that the 'phoney war' is now effectively over. In that context, yesterday's Hungarian (invalid) referendum rejecting the enforced quotas for refugees within the EU also underlines that the negotiations will be complex and messy, thanks to obvious and deep divisions in the EU. Ongoing speculation about Deutsche Bank will also continue to be a key feature, with an AFP story on Friday suggesting that the bank was close to a much lower $5.4 Bln settlement with the US DoJ, prompting a short squeeze to leave its stock up 6.4% on the session. While that story alleviated immediate concerns, the key point remains that concerns about the way the bank is run are not going to simply vanish, and the fact remains that it is under-capitalized (even if it clearly does not have an NPL problem), and by extension some form of action will have to be taken to restore confidence. The weekend news that Deustche Bank (along with MPS and Nomura) now faces a legal case over MPS' accounts in Italy, and sharp criticism of Deutsche from deputy Chancellor & SPD leader Gabriel only serves to underline the old maxim that "it never rains but it pours". The scope for political surprises continues to be a major feature of this year, with Hungary's radical PM Orban undone in his refugee quota referendum by the opposition abstaining, so as to ensure the voter participation rate was below the required 50% to make it binding in constitutional terms; while Colombians very narrowly rejected the President Santos peace settlement with the FARC rebels. Complacency about the US elections in November is per se dangerous.
** World - September Manufacturing PMIs **
- With China's PMIs largely unchanged versus August, and Asian PMIs showing a marginal improvement, the focus turns to Europe and the US. For the Eurozone, the Ifo and other national business surveys all point to an upward revision from the provisional reading of 52.6, with modest improvements forecast for Spain and Italy, which would imply still sluggish levels of output in both countries. For the UK, the sharp slide and bounce in July and August not only underlines how much the PMIs reflect sentiment perhaps more than the actual business flows that they purport to reflect, but also leaves open the question of where output will settle, with the weekend CBI indicator suggesting that the manufacturing is seeing a pick-up, though Services sales have slipped. Pride of place will however go to the US Manufacturing ISM, which is forecast to post a dead cat like bounce to 50.3 following a sharp drop to 49.4 in August from 52.6, with the New Orders Index having plummeted to 49.1 from July's 56.9. The anecdotal evidence from the Markit PMI and regional sector surveys suggest that August's 'collapse' was very aberrant, and stack the risks to the upside of the consensus, with commentators likely to focus on whether any rebound will leave the September reading above the Q2 average of 51.8.
** U.S.A. - August Construction Spending **
- While today's data point does not feed into the Atlanta Fed's GDPnowcast for Q3 (currently at 2.4% SAAR), it requires some attention in so far as the latter projects an 8.9% decline in Housing Investment, equivalent to drag of close to 0.4 ppt on GDP, which would be slightly larger than Q2's -0.3 ppt. The latter is predicated on the July and AUgust Housing Starts data, but obviously jars with the underlying strength in Home Sales, and today's sub-index for residential Construction Spending which is likely to be little changed from July's +0.4% m/m. The headline index is seen up 0.3% after a flat reading, with non-residential spending in focus. The latter has seen a protracted and unsurprising drag from the resources and manufacturing sectors, but the more surprising element has been the weakness in Education and Healthcare, along with drop in municipal spending (above all roads), which looks to have been more a function of a correction to strength in Q4 2015 and Q1 2016. The underlying sense that seasonal patterns in many sectors of the economy are breaking down, thanks in no small part to the 'technological revolution', continues to grow, thus advising caution in over-interpreting month to month changes.
from Marc Ostwald
Spending; UK Conservative party conference in focus as May sets deadline
for Article 50 trigger
- UK Manufacturing PMI: after July, August volatility, some stabilization
expected; Irish PMI hints at modest downside risks
- Eurozone PMIs: scope for upward revisions, following strong Ifo and
national surveys; focus on Spain and Italy
- US Manufacturing ISM: modest bounce expected after August slide,
anecdotal evidence suggests some upside risks
- US Construction Spending: set to eke out small gain, non-residential
drag expected to moderate
- Charts: various CFTC energy futures positioning
..........................................................................
********************
** EVENTS PREVIEW **
********************
The various holidays will see thinner trading conditions to kick off Q3, featuring the overnight Q3 Tankan from Japan (overall disappointing and implying sluggish outlook), the usual mix of Manufacturing PMIs, US Construction Spending and Auto Sales featuring on the statistical schedule, while the Tory party conference is the main item on the policy events agenda. The weekend announcement that Article 50 will be triggered by March 2017, and that there will be an omnibus bill to repeal EU laws and convert them into UK laws confirms that the 'phoney war' is now effectively over. In that context, yesterday's Hungarian (invalid) referendum rejecting the enforced quotas for refugees within the EU also underlines that the negotiations will be complex and messy, thanks to obvious and deep divisions in the EU. Ongoing speculation about Deutsche Bank will also continue to be a key feature, with an AFP story on Friday suggesting that the bank was close to a much lower $5.4 Bln settlement with the US DoJ, prompting a short squeeze to leave its stock up 6.4% on the session. While that story alleviated immediate concerns, the key point remains that concerns about the way the bank is run are not going to simply vanish, and the fact remains that it is under-capitalized (even if it clearly does not have an NPL problem), and by extension some form of action will have to be taken to restore confidence. The weekend news that Deustche Bank (along with MPS and Nomura) now faces a legal case over MPS' accounts in Italy, and sharp criticism of Deutsche from deputy Chancellor & SPD leader Gabriel only serves to underline the old maxim that "it never rains but it pours". The scope for political surprises continues to be a major feature of this year, with Hungary's radical PM Orban undone in his refugee quota referendum by the opposition abstaining, so as to ensure the voter participation rate was below the required 50% to make it binding in constitutional terms; while Colombians very narrowly rejected the President Santos peace settlement with the FARC rebels. Complacency about the US elections in November is per se dangerous.
** World - September Manufacturing PMIs **
- With China's PMIs largely unchanged versus August, and Asian PMIs showing a marginal improvement, the focus turns to Europe and the US. For the Eurozone, the Ifo and other national business surveys all point to an upward revision from the provisional reading of 52.6, with modest improvements forecast for Spain and Italy, which would imply still sluggish levels of output in both countries. For the UK, the sharp slide and bounce in July and August not only underlines how much the PMIs reflect sentiment perhaps more than the actual business flows that they purport to reflect, but also leaves open the question of where output will settle, with the weekend CBI indicator suggesting that the manufacturing is seeing a pick-up, though Services sales have slipped. Pride of place will however go to the US Manufacturing ISM, which is forecast to post a dead cat like bounce to 50.3 following a sharp drop to 49.4 in August from 52.6, with the New Orders Index having plummeted to 49.1 from July's 56.9. The anecdotal evidence from the Markit PMI and regional sector surveys suggest that August's 'collapse' was very aberrant, and stack the risks to the upside of the consensus, with commentators likely to focus on whether any rebound will leave the September reading above the Q2 average of 51.8.
** U.S.A. - August Construction Spending **
- While today's data point does not feed into the Atlanta Fed's GDPnowcast for Q3 (currently at 2.4% SAAR), it requires some attention in so far as the latter projects an 8.9% decline in Housing Investment, equivalent to drag of close to 0.4 ppt on GDP, which would be slightly larger than Q2's -0.3 ppt. The latter is predicated on the July and AUgust Housing Starts data, but obviously jars with the underlying strength in Home Sales, and today's sub-index for residential Construction Spending which is likely to be little changed from July's +0.4% m/m. The headline index is seen up 0.3% after a flat reading, with non-residential spending in focus. The latter has seen a protracted and unsurprising drag from the resources and manufacturing sectors, but the more surprising element has been the weakness in Education and Healthcare, along with drop in municipal spending (above all roads), which looks to have been more a function of a correction to strength in Q4 2015 and Q1 2016. The underlying sense that seasonal patterns in many sectors of the economy are breaking down, thanks in no small part to the 'technological revolution', continues to grow, thus advising caution in over-interpreting month to month changes.
from Marc Ostwald
Dentalfloss
Legendary member
- Messages
- 63,404
- Likes
- 3,726
pumped....never call levels...ie short from 6960...no signal
dax into our 10550 rez
