frugi
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Well we're still in the 10300 - 10500 range and still need to break through 10485 - 500 to support a real rally. If we can convincingly break through then there could be a retest of 10600 again for the first time in 4 weeks. If we could then break through 10640 it could go on to scale 10700 or even 10800 !
However funny things can happen on FOMC days. A 25pt basis hike is already factored into the market but word games can often produce unexpected reactions. Caveat Emptor :!:
However funny things can happen on FOMC days. A 25pt basis hike is already factored into the market but word games can often produce unexpected reactions. Caveat Emptor :!:
Racer
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CHICAGO (Reuters) - Procter & Gamble Co. (NYSE
G - News), the maker of Crest toothpaste and Tide laundry detergent, posted a 4 percent rise in quarterly profit on Tuesday, as strong sales of health and beauty items offset rising raw material costs and the impact of hurricanes on its coffee business.
P&G, which acquired Gillette Co. earlier this month, said earnings rose to $2.03 billion, or 77 cents per share, in its fiscal first quarter ended September 30, from $1.94 billion, or 70 cents a share, a year earlier.
Analysts, on average, expected Cincinnati-based P&G to earn 76 cents per share, according to Reuters Estimates.
G - News), the maker of Crest toothpaste and Tide laundry detergent, posted a 4 percent rise in quarterly profit on Tuesday, as strong sales of health and beauty items offset rising raw material costs and the impact of hurricanes on its coffee business.P&G, which acquired Gillette Co. earlier this month, said earnings rose to $2.03 billion, or 77 cents per share, in its fiscal first quarter ended September 30, from $1.94 billion, or 70 cents a share, a year earlier.
Analysts, on average, expected Cincinnati-based P&G to earn 76 cents per share, according to Reuters Estimates.
User
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Expect fluctuations, expect volatility.
10480-90 is a very dangerous area in terms of upward progression in relation to the weekly chart.
A break of 10400 today could lead to a triple digit decline which then could lead us to test 10200 again.
A weekly close above the 10500 could mean that the market may be poised to reach the highs of this year.
Short is the trend and short is the direction that favours long at this moment in time......
Good Luck all
End of year rally? Well that’s the expectation.......
In reality, we may not get one......
10480-90 is a very dangerous area in terms of upward progression in relation to the weekly chart.
A break of 10400 today could lead to a triple digit decline which then could lead us to test 10200 again.
A weekly close above the 10500 could mean that the market may be poised to reach the highs of this year.
Short is the trend and short is the direction that favours long at this moment in time......
Good Luck all
End of year rally? Well that’s the expectation.......
In reality, we may not get one......
Racer
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WASHINGTON (MarketWatch) -- Factory activity in the United States slowed a bit in October after a strong increase in the previous month, the Institute for Supply Management reported Tuesday. The ISM index inched lower to 59.1% in October from 59.4% in September. The decline was not as steep as expected. The consensus forecast of estimates collected by Marketwatch was for the index to slip to 57.2%. The index had jumped from 53.6 in August. Readings above 50 indicate expansion. New orders fell to 61.7% in October from 63.8% in September. The employment index rose to 55% from 53.1%. The price index soared to 84% from 78%. This is the highest price level since May 2004.
User
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I think the 1 hour chart might be of relevance for the remainder of today's session.
Seems like a fake up move, although 10400 held having said that it was never really tested.
Still favouring downside.....
Good Luck
10450 is now the problem area with more trouble at 10480-90-500
Upside should still be sold or shorted not bought not yet anyway......
Seems like a fake up move, although 10400 held having said that it was never really tested.
Still favouring downside.....
Good Luck
10450 is now the problem area with more trouble at 10480-90-500
Upside should still be sold or shorted not bought not yet anyway......
