Trading with point and figure

[Atilla]

11616-11700 is big rez area...could be bumpy in there
otherwise 11520
11500
11450-11470..ish
could go into 11500 and below first ...fake

Good call Dentist.

I think all you guys are great.

 

[Dentalfloss]

Jdow just went a tad negative
20030 is a possible support

 

[Dentalfloss]

mornin folks

 

[Dentalfloss]

11616-11700 is big rez area...could be bumpy in there
otherwise 11520
11500
11450-11470..ish
could go into 11500 and below first ...fake

yes sir...11625 this morning

 

[Moneylender]

Morning boss

 

[Dentalfloss]

pulled back
if supp holds...we could test the trendline 11616 area
if it pullsback from that ..then reassess the pullback
bulls have got a foothold...lets see if they can take it higher
no guarantees...lol

lets see how it reacts

 

[Dentalfloss]

Morning boss

mornin Guvner

 

[Dentalfloss]

gbpjpy gonna pump or dump 140.60

pumped...missed it...lol

 

[Dentalfloss]

- Digesting Japan Orders, UK RICS House Prices, German Trade; awaiting US
Jobless Claims & Mexico CPI, Fed speak and Banco de Mexico rate decision;
UK and US 30-yr, Irish 5 & 9-yr auctions

- Japan Orders: better than expected, but still flat for Q4, surveys
justify optimism on Q1 outlook, but ....

- Germany Trade: 2016 record surplus to attract usual barrage of criticism;
weak Dec Exports probably due to same factors as Production slide

- Mexico CPI: Peso slide seen fuelling sharp rise in January, pipeline
pressures elevated

- Mexico rates: consensus looks for further 50 bps hike, market
discounting a 25 bps move


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

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

A much busier day for major statistics has the overnight UK RICS House Price Balance and Japan Machinery Orders, and just published German Trade and Norwegian Q4 GDP to digest ahead of weekly US jobless claims and Mexican CPI, the latter coming just ahead of an expected further rate hike from Banco de Mexico. There is Fed speak from Bullard and Evans, both previously associated with the very dovish end of the FOMC spectrum, though both have struck a rather more neutral to mildly hawkish tone in recent speeches, while in South Africa President Zuma delivers The State of the Nation Address, with few if any policy initiatives / proposals expected. Govt bond auctions are held in UK (30-yr), Ireland (5 & 9-yr) and the USA (30-yr). In respect of Japan's Machinery Orders, the 6.7% m/m and y/y increase was much better than the expected 3.1% m/m 4.6% y/y and points to better momentum going into Q1, however Orders were still marginally lower on the quarter (-0.2%), even if Q1 Orders are seen at 3.3% q/q. This may indeed all prove to be rather moot as attention turns to the meeting between Abe and Trump tomorrow, and the extent to which the latter criticizes Japan for manoeuvring the JPY lower, which appears to be something of a sine qua non given the latter's attacks on China and Germany, though joined up thinking does not appear to be in Trump's DNA. In that he is no different to most other modern politicians. As for the German Trade data, a smaller than expected surplus and largely as expected Current Account will doubtless attract the usual barrage of criticism, though the 3.3% m/m fall in Exports vs. a forecast of -1.3% m/m, and a flat m/m reading for Imports (forecast -1.1%) were the more notable feature. The export fall leaves exports up only modestly on the quarter, however as with the weak Industrial Production data earlier in the week, this 'weakness' may well owe a lot to poor weather and Christmas timing effects. This seems all the more likely in light of the upwardly revised DIHK forecast for 2017 exports (3.0% y/y vs. prior 2.0%) published earlier in the week.


** Mexico - January CPI / Banco de Mexico rate decision **
- While CPI has been steadily climbing in recent months, today's January CPI is forecast to show a major upward shift in trend terms with a headline rise of 1.68% m/m implying the y/y rate leaps from December's 3.36% to 4.67%, primarily paced by energy and food, but a 0.5% m/m rise in core CPI underlines rising evidence of second round effects, which is none too surprising given the scale of the MXN slide, and looks likely to be sustained for much of H1 2017. That being the case, the only question for today's Banco de Mexico policy meeting is whether to continue hiking rates at the recent 50 bps pace to 6.25% as the consensus expects, or to take the foot modestly off the peddle with a 25 bps, as is discounted by the MXN OIS curve, which would perhaps be justified by a slightly steadier MXN. However as the last year has more than amply demonstrated, that calm may prove to be nothing more than transient, and hostage to the next Trump rant.

from Marc Ostwald

 

[Dentalfloss]

53.00 oil
1244 gold
cable 1.2575
all pump or dump

 

[Dentalfloss]

1.0710 a pivot on eurusd
pump or dump it

 

[Dentalfloss]

audusd pulling back to .7600 supp area
lets see how it gets handled

 

[Dentalfloss]

dsax needs to hold Moneylenders 11550

 

[Dentalfloss]

nas 100
5200 area still around

 

[Dentalfloss]

usdjpy
pump or dump 112.50 area

 

[Dentalfloss]

took the bounce off Moneylenders 11550 earlier
excellent stuff

 

[Dentalfloss]

p/f pump or dump
you have to be ready to act at either orifice
that is where we trade from

 

[Dentalfloss]

p/f pump or dump
you have to be ready to act at either orifice
that is where we trade from

we want the movement from the orifice...lol

 

[Moneylender]

p/f pump or dump
you have to be ready to act at either orifice
that is where we trade from

Ooh er missus!

 

[Dentalfloss]

audusd pulling back to .7600 supp area
lets see how it gets handled

pumped...excellent