Dentalfloss
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DAX
Trading with point and figure
- Thread starter Dentalfloss
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Dentalfloss
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was a cup and handle...now father Xmas beard
Dentalfloss
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Mornin folks
Morning Sir Inzi
Morning Sir Inzi
Dentalfloss
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Do we buy the Indices..??
Dentalfloss
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Dow into the open
Dentalfloss
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25K....could be a real dog
Dentalfloss
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lining up
Dentalfloss
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DAxX into the open
Dentalfloss
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wrong chart above..ignore it
Old chart?
Dentalfloss
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DAX
Dentalfloss
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%LOG box gives a clearer veiw
Dentalfloss
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range is tight
Dentalfloss
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Ostwald, Marc
08:33 (10 minutes ago)
to Marc
- OPEC+ meeting contends for top billing with Brexit and Italy; digesting
as expected Oz Retail Sales and slightly better than forecast German
Orders; central bank speakers plentiful; US ADP Employment, Claims,
Non-manufacturing ISM and South Africa Current Account; France auction
- Canada: BoC pushes back hard on rate trajectory, Poloz speech awaited
- U.S.A.: ADP Employment seen posting another solid gain, Non-mfg ISM
expected to dip, but still very robust
- OPEC+ meeting: markets expecting minimum 1.0 mln bbls cut, but
OPEC+ members singing from different hymn sheets
- Charts; BoC rate probabilities, OPEC output
..........................................................................
********************
** EVENTS PREVIEW **
********************
The start of the OPEC+ meeting will garner plenty of attention, and doubtless generate plenty of speculative headlines, and compete with the seemingly interminable Brexit debate in the UK parliament, as well as the to and fro on the Italian budget. Elsewhere, there will be a lot of central bank speakers, including RBA's Debelle, ECB's de Guindos, Fed's Williams and Bostic and BoC governor Poloz. Statistically there are the Australian Trade and Retail Sales and German Factory Orders to digest ahead of South Africa's Q3 Current Account and a raft of US data including ADP Employment, the Non-manufacturing ISM, Factory Orders and the Trade Balance, which is also published in Canada. Of those speeches, it will likely be Poloz's speech that get most attention, after the BoC statement accompanying its expected no change decision yesterday took a decidedly dovish turn by hinting at cuts to its growth and inflation forecasts in its January meeting forecast update, thus casting considerable doubt on the rate hike that had previously been heavily anticipated. As for the OPEC+ meeting, there is a very palpable sense that the big producers (Saudi Arabia and Russia) are struggling to get on to the same page of the production hymnbook, with rising Iraqi output, and a good deal of exceptionalism coming from the likes of Nigeria and Libya only complicating the picture, along with the mandated cut in Alberta and the modestly lower output in Iran due to sanctions, as well as the ever dwindling supply from Venezuela, as its economy continues to implode. The consensus and the usual posturing from the various delegates suggest that a 1.0 Mln bpd production cut may be on the cards, rather weaker than the 1.4 Mln that many oil market participants have mooted, though noises late yesterday suggest a specific target may not be announced. Please also see the various attached OPEC+ graphics via Reuters' Amanda Cooper.
** U.S.A. - Nov ADP Employment / Non-Manufacturing ISM **
- While NY Fed's Williams was relatively sanguine on the labour market remaining tight for a few more years, and underlining that this is not generating much in the way of wage inflation, a strong labour market report this week would nevertheless push back on markets decidedly dovish take on Powell's comments 'just below the neutral range' last week, even if this is unlikely to unseat doubts about the China/US trade truce and the outlook for the global economy. Today's ADP is forecasts to post a solid 195K rise, as ever the same expectation as for Private Payrolls tomorrow, and despite considerable month to month divergence between the two series this year; weekly jobless claims will inevitably get a lot of attention, after rising in recent weeks, though last week's 234K was almost certainly a Thanksgiving effect, which is expected to be partly reversed to 225K. The Non-Manufacturing ISM is seen down from October's better than expected 60.4 to 59.0, in other words still signalling considerable strength, as was also indicated by yesterday's Beige Book.
========================== ** THE DAY AHEAD ** ================
08:33 (10 minutes ago)
to Marc
- OPEC+ meeting contends for top billing with Brexit and Italy; digesting
as expected Oz Retail Sales and slightly better than forecast German
Orders; central bank speakers plentiful; US ADP Employment, Claims,
Non-manufacturing ISM and South Africa Current Account; France auction
- Canada: BoC pushes back hard on rate trajectory, Poloz speech awaited
- U.S.A.: ADP Employment seen posting another solid gain, Non-mfg ISM
expected to dip, but still very robust
- OPEC+ meeting: markets expecting minimum 1.0 mln bbls cut, but
OPEC+ members singing from different hymn sheets
- Charts; BoC rate probabilities, OPEC output
..........................................................................
********************
** EVENTS PREVIEW **
********************
The start of the OPEC+ meeting will garner plenty of attention, and doubtless generate plenty of speculative headlines, and compete with the seemingly interminable Brexit debate in the UK parliament, as well as the to and fro on the Italian budget. Elsewhere, there will be a lot of central bank speakers, including RBA's Debelle, ECB's de Guindos, Fed's Williams and Bostic and BoC governor Poloz. Statistically there are the Australian Trade and Retail Sales and German Factory Orders to digest ahead of South Africa's Q3 Current Account and a raft of US data including ADP Employment, the Non-manufacturing ISM, Factory Orders and the Trade Balance, which is also published in Canada. Of those speeches, it will likely be Poloz's speech that get most attention, after the BoC statement accompanying its expected no change decision yesterday took a decidedly dovish turn by hinting at cuts to its growth and inflation forecasts in its January meeting forecast update, thus casting considerable doubt on the rate hike that had previously been heavily anticipated. As for the OPEC+ meeting, there is a very palpable sense that the big producers (Saudi Arabia and Russia) are struggling to get on to the same page of the production hymnbook, with rising Iraqi output, and a good deal of exceptionalism coming from the likes of Nigeria and Libya only complicating the picture, along with the mandated cut in Alberta and the modestly lower output in Iran due to sanctions, as well as the ever dwindling supply from Venezuela, as its economy continues to implode. The consensus and the usual posturing from the various delegates suggest that a 1.0 Mln bpd production cut may be on the cards, rather weaker than the 1.4 Mln that many oil market participants have mooted, though noises late yesterday suggest a specific target may not be announced. Please also see the various attached OPEC+ graphics via Reuters' Amanda Cooper.
** U.S.A. - Nov ADP Employment / Non-Manufacturing ISM **
- While NY Fed's Williams was relatively sanguine on the labour market remaining tight for a few more years, and underlining that this is not generating much in the way of wage inflation, a strong labour market report this week would nevertheless push back on markets decidedly dovish take on Powell's comments 'just below the neutral range' last week, even if this is unlikely to unseat doubts about the China/US trade truce and the outlook for the global economy. Today's ADP is forecasts to post a solid 195K rise, as ever the same expectation as for Private Payrolls tomorrow, and despite considerable month to month divergence between the two series this year; weekly jobless claims will inevitably get a lot of attention, after rising in recent weeks, though last week's 234K was almost certainly a Thanksgiving effect, which is expected to be partly reversed to 225K. The Non-Manufacturing ISM is seen down from October's better than expected 60.4 to 59.0, in other words still signalling considerable strength, as was also indicated by yesterday's Beige Book.
========================== ** THE DAY AHEAD ** ================
Dentalfloss
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in support
will it hold..??
will it hold..??
Dentalfloss
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INZI
24750
maybe 24700.?
24750
maybe 24700.?
Dentalfloss
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in my mind you are going about the wrong way
PnF is more about price action
i think you are relying too much on calling supp/rez
