Trading with point and figure

[Dentalfloss]

trendline should get hit in 13200 area
a decent bull test there

 

[Dentalfloss]

cos......
trend is down
the move from 12730....is that a dead cat bounce..??
bulls need to show some muscle.....lol

 

[Dentalfloss]

lower rez is 13115-13129 area

 

[Dentalfloss]

13065 first supp area after 13085

 

[Dentalfloss]

dow

24900 poss in for a hammerin

 

[Moneylender]

lower rez is 13115-13129 area


Looks like it was 13110 is the real dog!

 

[Dentalfloss]

pivot areas come up

 

[Dentalfloss]

24925 is a cluster area
first supp

 

[Dentalfloss]

- Digesting 'hawkish tilt' to FOMC minutes and solid Asia PMIs, awaiting
Europe / US Services PMIs, US ADP Employment and jobless Claims, and
Fed speak from Bullard; latest China leverage clampdown measures and
US 'big freeze' offer further talking points

- US ADP Employment: consensus once again rather agnostic, array of surveys
imply modest upside risks

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

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

Services PMIs, UK lending data and the US ADP Private Employment estimate provide the focal point in terms of today's schedule of data, as a marginally hawkish tilt to the Dec FOMC minutes (given the discussion about the tax cut imparting upside risks to the FOMC rate trajectory), and a clearly robust profile to global growth is being largely ignored by markets, which continue to display a hunger for 'risk assets', borne on the wings of years of central bank dictated 'financial repression'. Asian PMIs, above all the Services readings from China and India, confirm a solid momentum going into 2018, though market 'chatterati' will probably focus more in terms of China on the latest move to clamp down on leverage in the local bond market, and the 'strict ban' on any increase in steel capacity, along with the 'big freeze' in the USA. There will also be some Fed speak from the very dovish Bullard (a non-voter this year), and the Treasury will announce the size of its bill sales and 3, 10 & 3-yr auctions next week, while France (EUR 9-10 Bln total) and Spain (EUR 3.5 - 5.0 Bln total) kick off their 2018 funding programmes with multi-maturity auctions. UK lending data are expected to see little change in either the pace of Consumer Credit (£1.5 bln) and Mortgage Lending (£3.4 Bln) relative to October, thus continuing to underline that while credit growth has slowed marginally, it remains on a pace (just below 10% y/y) that is clearly not sustainable relative to negative real wage growth, even when accounting for the high level of overall employment.

** U.S.A. - Dec ADP Employment **
- While the usual caveats apply in terms of the read across from the ADP estimate to tomorrow's official Payrolls data, it is worth noting that the ADP report has proved to be quite reliable in recent years as a guide to Payrolls, with the 'miss' generally below 15K. That said the consensus for a 190K rise looks to be agnostic, being both the mode estimate in non-hurricane impacted months, as well as in line with the average outturn over the past 6 months. If the run of regional and national activity surveys are any guide, then the risks would appear to be very modestly to the upside of expectations. Weekly jobless claims are also due and are expected to dip marginally to 242K from last week's 245k.


from Marc Ostwald

 

[Moneylender]

lower rez is 13115-13129 area


Looks like it was 13110 is the real dog!

Stop in place now

 

[Dentalfloss]

oil

 

[Moneylender]

Stop in place now

First test is 13085

 

[Dentalfloss]

Cable
1.3500 area looks important

 

[Dentalfloss]

OY..... i hear you say


this is supposed to be a point and figure charting thread....


but

first look...easiest way is bar chart
break it down into bullish and bearish sections using trendlines
much easier than playing with p/f inputs

Cable
1.3500 area looks important

 

[Dentalfloss]

dow sellers gettin toasted

repeat after me.....scalp shorts only
we have been saying that for a heck of a long time

 

[Moneylender]

dow sellers gettin toasted

repeat after me.....scalp shorts only
we have been saying that for a heck of a long time

Needs to drop less than 24950 before shorts imo

 

[Moneylender]

First test is 13085

Missed my first TP by a pip or two!!!

 

[cantagril]

Morning all,

Today as per yesterday:

Long EG at .8882 - just one lot this morning. Target .8910

 

[Moneylender]

Morning all,

Today as per yesterday:

Long EG at .8882 - just one lot this morning. Target .8910

Morning Canta

First test hit @ 13085, third off the table there!

 

[Moneylender]

Long bets still the safer option I think on DAX, DOW is care, we must be near the top and EG has just turned negative 0.8890 imo, so care there.