Trading with point and figure

dentist007 said:
a quick 400 points

156d94i.png
Click to expand...

luvin it
 
nearly 25K.....but some wild candles on 1 min
definitely would have been stopped
glad i stayed out after 23650
 
- Fed and ECB speak tops schedule as Japan wages data disgested on
otherwise modest day for data; US and German 10-yr bond auctions
accompany further rash of earnings; rate decisions in India,
Poland, Romania and Brazil

- Rates: Poland and India set to hold, Romania's BNR set to hike again,
Brazil's COPOM to cut rates once more and signal trough

- Charts: MBS 30 yr Mortgage Rate, USD IG, HY & EM Bond ETFs vs. equivalent OAS yield spreads

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

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

The day's schedule is dominated by Fed and ECB speakers, rate decisions in India, Poland, Romania and Brazil, with the statistical run unlikely to raise many eyebrows in the current market environment, though the Japan Wages data requires attention, and a watchful eye needs to be kept on the MBA's 30-yr Mortgage Rate (in the MBA weekly Mortgage Applications data), which is threatening to breach last year's high; German Industrial Production, French Trade and Chinese & Swiss FX Reserves may also merit a glance. Government bond supply comes via way of German and US 10-yr auctions, while among the day's corporate earnings reports GSK, Gas Natural SDG, Rio Tinto, Sanofi, Statoil, Unicredit, Humana and 2st century Fox will likely be among the headline grabbers. Whether yesterday's turnaround signals that the recent 'rout' in equities was no more than a correction, it remains noticeable that credit spreads of all varieties have been highly insensitive to the govt bond yield rise and equity market volatility, despite sector ETFs taking something of a proverbial bath. All of today's "EM" central bank meetings bear some scrutiny, the RBI meeting will (as already flagged) discuss government concerns about the 'surge' in India bond yields, and the potential for contagion for borrowing rates in the broader economy, as well as proposals for debt management in the new fiscal year, with the Finance Ministry suggesting that the RBI could start buying govt bonds as part of its Open Market Operations, to cap yield rises and improve liquidity, thought the final decision rests with the RBI. Poland's NBP has been about as resolute as Australia's RBA in seeing no need for official rates to rise this year, above all citing a lack of any core inflation pressures. By contrast Romania's BNR is expected to follow up on Jnauary's initial rate hike with a further 25bps hike to 2.25%, against a backdrop of very expansionary fiscal policy, rapid growth and a notable pick-up in inflation. Brazil's COPOM is expected to cut rates by a further 25 bps to 6.75%, with most forecasters expecting that it signal an end to, or at least a pause in the current rate cut cycle.


from Marc Ostwald
 
Mornin' y'all,

Still in my EG position - Longs at av .88735

Charts a bit bearish but trend support still there
 

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Morning all

Not around much today so no charts from me, will be monitoring from my phone and ready to hoover up any loose pips.

Sent from my Moto G (4) using Tapatalk
 
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