Trading with point and figure

[Dentalfloss]

as we said a week ago.....above 7100 was fake

 

[Dentalfloss]

FTSE into the open

 

[Dentalfloss]

pump or dump from the chart
7100 might get taken out
a bit more detail
7050-7070 big supp area
7039-7050 trend supp
7070 -7081 breakout point/aqua horizontal
7030 ..swissy supp area from yesterday
looks pretty bullish
7100/round/rez
7113-7124 pump or dump area

 

[Dentalfloss]

dax
1 month of data

 

[Dentalfloss]

dax...bull flag we marked played out well

 

[Dentalfloss]

dax over the last week

 

[Dentalfloss]

- Digesting UK BRC Sales, Putin comments on Russia joining OPEC production
agreement, awaiting IEA oil market report, German ZEW and US NFIB Small
Business Optimism; Saudi to launch jumbo USD offering; bond auctions
in Netherlands, Austria and Germany

- Oil: IEA monthly report eyed for assessment post OPEC 'agreement' and
following bearish September outlook

- ZEW: seen rebounding on better economic data, Deutsche concerns may
weigh

- Charts: WTI Oil, UK 5 & 30-yr breakeven inflation rates, UK 30-yr
breakeven inflation Rate vs GBP

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

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

A slightly busier day in terms of economic data, though largely of the second division variety, with the overnight BRC Retail Sales and Japan Economy Watchers Survey to digest ahead of Swedish CPI, and the German ZEW and US NFIB Small Business Optimism surveys. Policywise, BoE MPC 'new boy' Saunders testifies to Treasury Select Committee, the ever dovish Chicago Fed president Evans offered no surprises in his overnight comments, with the non-Voting Mr Kashkari speaking later, while EU Finance Ministers hold a regular EcoFin meeting. On the government auction side, the Netherlands, Austria and Germany feature, but the Q3 earnings season kick off via way of Alcoa will likely be more of a point of focus, as will the World Energy Congress in Istanbul, even much of the rhetoric looks to be of the 'talking the talk' not 'walking the walk' variety, but clearly taking a leaf out of the Draghi book of 'this is how you do rhetoric'. Putin' suggestion that Russia is willing to joining the OPEC Oil production cap will underpin prices, and it will be interesting to see how the IEA monthly Oil Market Report pitches the outlook for the market post OPEC agreement, having painted a rather bearish picture in its previous report. While the ZEW survey is a very poor proxy for German economic activity, with a strong record in predicting booms and busts which never materialized; it is nevertheless market sensitive. Having troughed at -6.8 in July, a bounce to +4.0 from Aug/Sep readings of -0.5 is seen on the Expectations index; the far more reliable ZEW Current Conditions is seen little changed at 55.5 (Sept 55.1), with incoming official data suggesting some upside risks, though the concerns surrounding Deutsche Bank may acta as a counterweight. As for the US NFIB Small Business Optimism, the consensus looks for a 95.0 reading, essentially little changed from a run of 94.4, 94.6 and 94.5 in preceding months. The Saudi dollar bond offering mooted to be minimum $10 Bln, and perhaps as much as $15 Bln will also be closely watched in both in terms of pricing (likely to be tight) and book size. We would also remind readers that UK breakeven inflation reports continue to soar (see charts), which will increasingly raise questions about the BoE's current policy settings and expectations.


from Marc Ostwald

 

[swissy]

Cable seems to be making ftse gyrate to its tune... add oil...looks bullish

 

[Dentalfloss]

spx over last 2 weeks

 

[Dentalfloss]

Cable seems to be making ftse gyrate to its tune... add oil...looks bullish

3 box vertical count gives 7167-7178 area

 

[Dentalfloss]

cable in supp
1.2272 area
there now
oil in rez

 

[Dentalfloss]

7113-7124 area is rez
as we said earlier

 

[Dentalfloss]

cable

 

[Dentalfloss]

oil...overbought

 

[Dentalfloss]

poss scenario
oil overbought
cable in supp
dax and spx and ftse in rez

 

[swissy]

7113-7124 area is rez
as we said earlier

Yes.. also thinking it might go rez 7130 (that's an opinion btw:cheesy

 

[Dentalfloss]

gbpjpy..a bit rangebound

 

[Dentalfloss]

above 7120 area might be fake..lets seee

 

[swissy]

above 7120 area might be fake..lets seee

Thanks, If it makes it that's ok.... I've been tightening me stops..

 

[swissy]

Thanks, If it makes it that's ok.... I've been tightening me stops..

Closed 2/3 @7120 and stopped out on final 1/3. not a bad run.

Oil coming down a bit... and cable - a bit..could drift down 7100, if it don't bounce off my MA (50) 1M chart.