Trading with point and figure

FTSE into the open
got a tad bullish
cannot tell if its a new uptrend or a dead cat bounce

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Good Morning: The Long & the Short of it and The Bigger Picture - 10 December 2018 - ADM ISI


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Ostwald, Marc
07:57 (21 minutes ago)

to Marc





- Busy statistical and event schedule gets busy week replete with risk
events: digesting poor Japan Q3 GDP revision, improving German Trade;
awaiting UK monthly GDP and raft of activity data, US JOLTS Job Openings;
numerous central banks speakers and EU/US meeting on tech sector

- UK data totally subordinate to Brexit saga, but modest monthly GDP gain
to emphasize very weak momentum and broad based sluggishness

- Week Ahead: 'no peace for the wicked': Brexit, Italy budget, ECB meeting
top event schedule; raft of Inflation, Retail Sales, Trade and Output
on hand in major economies; US tops govt bond auction run

- Charts: US Financial Conditions; USD, EUR & GBP Investment Grade and
High Yield average spread; JPM EMBI EM Bond average spread

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

The week starts as it means to go on with a deluge of scheduled data and events, even if the unscheduled headlines may prove to be the market movers, above all anything related to Brexit, and of course the Italian Budget (which will find its main headlines via Salvini's press conference), and trade tensions. There are the China Trade & Inflation, revised Japan Q4 GDP (much worse than the provisional and expected) and German trade data (better than forecast at 0.7% Exports & 1.3% m/m Imports, with Sept revised up to -0.4% & flat) to digest, while ahead lie UK monthly GDP and other activity data (see week ahead preview below) along with US JOLTS Job Openings. There are plenty of G-10 central bank speakers, and the tech sector will be watching the EU/US meeting on data privacy, taxation and regulation of digital companies very closely. Eminently the poor dynamics of the equity markets will be a key talking point, for which the meltdown in credit that we have been flagging as likely for much of this year has been a very major contributor.
 
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