Indices

[Caseynotes]

Dow attempted to push higher and lower yesterday but supported at 28768 and capped at the recent and all time high. The deal signing today may provide a spur. Not much on the calendar other than the continued bank earnings and US PPI. Dax and Fstse waiting on S&P and Dow to move.

[dmedin]

The U.S. indices are all testing support this morning 😎

[Caseynotes]

21 minutes ago, dmedin said:

The U.S. indices are all testing support this morning 😎

as is often the case in an uptrend, an early check of support before an attempt to drive higher. The opposite is also often seen in a downtrend, a check of resistance before an attempt to continue lower.

[Caseynotes]

Trading Composure @TradingComposur

9m

 

It's hard putting a trade on knowing you could lose. Unfortunately, instead of embracing that possibility, most traders develop unhealthy coping mechanisms. They place the trade but convince themselves that they're right by overly focusing on details that confirm their views.

[dmedin]

What if the t*rd's 'amazing deal' is a great big nothingburger?   I don't really have the stomach for Trump-watching.  😵

[Caseynotes]

2 minutes ago, dmedin said:

What if the t*rd's 'amazing deal' is a great big nothingburger?   I don't really have the stomach for Trump-watching.  😵

the risk was that the Chinese would play the same game as last time when the presented a rewritten deal at the last minute reckoning the US would sign rather than have nothing but they didn't sign. still a lack of details this time round though.

[dmedin]

Zut alors, Samwise Gamgee 🐮

[Caseynotes]

Dow races straight up to R1 on the US open which is just a touch below the all time high.

H1 chart;

[cheviot]

 

Time and price on Dow and Sp 500 begining to tie up to forming a top , with top of channel (long term ) keeping a lid on these indx z,  Nb Dax FTSE  , not interested.....Also Oil (falling) and bonds ( rising ) tells you 2 things......The US and world economies are very slack.....Once they ve signed this deal.....Stocks will get dumped....😱

[dmedin]

16 minutes ago, cheviot said:

 

Time and price on Dow and Sp 500 begining to tie up to forming a top , with top of channel (long term ) keeping a lid on these indx z,  Nb Dax FTSE  , not interested.....Also Oil (falling) and bonds ( rising ) tells you 2 things......The US and world economies are very slack.....Once they ve signed this deal.....Stocks will get dumped....😱

FTSE 100 shallow 38% correction? 🤔

[cheviot]

Dow 30 in my view 

[dmedin]

🤔

[dmedin]

Dax is holding strong at 23.6%, implying there's a nice wave up to come

[cheviot]

7 minutes ago, dmedin said:

Dax is holding strong at 23.6%, implying there's a nice wave up to come

If and only If it can hold the first wave up to 13250, It looks more like a bear flag to me...But it may just be a series of ABC X corrections....It needs to break the tops line now formed to confirm that indeed its going to push higher....If it fails...Then down we go,.....

[cheviot]

17 minutes ago, dmedin said:

Dax is holding strong at 23.6%, implying there's a nice wave up to come

Its a 5 th wave triangle .....Your RSI is dropping its churning sideways.....Same as US markets....

It all come out in the wash !! 

[cheviot]

Feels like a nice day for a key day reversal on the Dow ....If I was a bull I d be pretty disappointed with the way the markets trading...Up yes...but no volume and no follow through...Its more than in the price....😕

[dmedin]

9 minutes ago, cheviot said:

Feels like a nice day for a key day reversal on the Dow ....If I was a bull I d be pretty disappointed with the way the markets trading...Up yes...but no volume and no follow through...Its more than in the price....😕

Lol there are 2.5 hours approx left ... don't call it a day yet

[cheviot]

2 minutes ago, dmedin said:

Lol there are 2.5 hours approx left ... don't call it a day yet

Key day...Is a technical reversal....New high.....with a daily close below the previous days low....For the Dow its 28782.....

[dmedin]

3 minutes ago, cheviot said:

Key day...Is a technical reversal....New high.....with a daily close below the previous days low....For the Dow its 28782.....

We'll see  

[AndrewS]

13 minutes ago, cheviot said:

Key day...Is a technical reversal....New high.....with a daily close below the previous days low....For the Dow its 28782.....

Friday was a high probability sell with the retracement back up to 29,000. Hoping for a close below 28782 today is not.

[cheviot]

8 minutes ago, AndrewS said:

Friday was a high probability sell with the retracement back up to 29,000. Hoping for a close below 28782 today is not.

Key day reversal....is ..... nothing fancy.....But is good indicator of trend reversal....

[Caseynotes]

Dow and S&P make new highs, Dax still trying to escape key resistance and Ftse though remains in touch with key resistance lacking drive.

[dmedin]

Watch the video - absolute cringe: https://uk.reuters.com/article/uk-usa-trade-china/china-u-s-sign-initial-trade-pact-but-doubts-and-tariffs-linger-idUKKBN1ZE0ID

 

Edited January 16, 2020 by dmedin

[Caseynotes]

2 minutes ago, dmedin said:

Watch the video - absolute cringe: https://uk.reuters.com/article/uk-usa-trade-china/china-u-s-sign-initial-trade-pact-but-doubts-and-tariffs-linger-idUKKBN1ZE0ID

 

not really a Reuters fan;

[dmedin]

35 minutes ago, Caseynotes said:

not really a Reuters fan

[Caseynotes]

3 minutes ago, dmedin said:

still waiting for someone to meme the pic above 🙂

[Caseynotes]

"Our call of the day from the founder and chief executive of Ciovacco Capital Management"

He said the bigger picture for stocks is now coming together. “A sound argument can be made that the stock market made a cyclical low in 2018 within the context of a secular trend,” Ciovacco said. He was alluding to that big equity drop in December 2018, while a secular trend refers to a rising or falling market trend. It can last from five to 25 years, peppered by smaller bear or bull markets, respectively.

https://www.marketwatch.com/story/years-of-stock-gains-are-ahead-but-also-scary-pullbacks-says-strategist-2020-01-16

 

 

[Caseynotes]

US data continues to improve, US core retail sales another beat.

[Caseynotes]

Bespoke @bespokeinvest

13 "golden crosses" across stocks and ETFs yesterday. Here are a few of them:

[dmedin]

4 hours ago, Caseynotes said:

not really a Reuters fan;

 

 

They did the same thing to Bernie Sanders, makes him look bad but doesn't tell the whole story (he offered to shake her her and she refused)

 

https://uk.reuters.com/article/us-usa-election-stock-options/investors-see-smoother-path-for-u-s-stocks-as-warrens-election-odds-slip-idUKKBN1ZF17Y