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All 4 indices will be looking to top Sunday's high today having not managed it on a slow day yesterday, failing that probably due a pullback. If resistance can't be beat price always has to look for support, and visa-versa. 

Trump complaining the Fed didn't listen to him re- not raising rates, chances of a rate cut in July now up over 80%. He is right, the Fed never understood his gaming of the Chinese by using market tops as timing for turning the screw tighter. As we are closing in on the highs again and the G20 at the end of the month will he do it a 4th time?

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Another day of indecision for Dow, not able to push on but not pulling back yet either. Times like these usually bring out the doomsters to tell us Armageddon is coming and who knows, one day they might actually be right, but I wouldn't bet on it.

You hear lots of talk about national debt and the abandonment of the gold standard and the Bretton Woods agreement etc but they are all forgetting the list of rules drawn up in the 1930's that still hold true to this day, especially Rule 11 (see below). 

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Looking like a day of searching for support, not much on the calendar, EU indy prod m/m at 10am expected to be -0.4 might rock the Dax.

Dow will be trying to hold at S2 25878 while resistance is up at 26087.

Dax trying to hold above 12065 and has resistance overhead at 12133.

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Interesting daily candle on the S&P heading into the US market open;

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Strange week really for the indices. just loitering around so far, not willing to push on but not wanting to pull back either.

Asia markets down overnight while Europe and American markets up slightly. On the calendar today is US retail sales at 1:30 and US consumer sentiment at 3pm.

FOMC next week with a surveyed 20% chance of a rate cut while the end of July FOMC meet is 80% (FOMC meet 8 times a year) and in between is the G20 at the end of this month so plenty of market moving events just round the corner 🙂

 

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Overview, haven't quite got this dashboard sorted yet, seems to be a delay on the US numbers;

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20 minutes ago, Caseynotes said:

Overview, haven't quite got this dashboard sorted yet, seems to be a delay on the US numbers;

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What dashboard are you using as it looks good so far.

Can you explain the setup if possible; thanks.

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Posted (edited)
10 minutes ago, FFS_Daytrader said:

What dashboard are you using as it looks good so far.

Can you explain the setup if possible; thanks.

Sure, it's does look good doesn't it, new site found just recently but it looks like some prices are delayed unless you sign up for a pay for package. Might go back to the IG platform and see if I can build something similar 🙂.

The setup is as per this page;

https://www.teletrader.com/markets/overview

Edited by Caseynotes
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38 minutes ago, Caseynotes said:

Sure, it's does look good doesn't it, new site found just recently but it looks like some prices are delayed unless you sign up for a pay for package. Might go back to the IG platform and see if I can build something similar 🙂.

The setup is as per this page;

https://www.teletrader.com/markets/overview

I will try this and also look at getting IG setup better. If you get a good IG setup, [please share; thanks

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17 hours ago, FFS_Daytrader said:

I will try this and also look at getting IG setup better. If you get a good IG setup, [please share; thanks

@FFS_Daytrader, re; dashboard, the only thing I can't get on is a brief econ calendar news events of the day, what do you think?

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18 minutes ago, Caseynotes said:

@FFS_Daytrader, re; dashboard, the only thing I can't get on is a brief econ calendar news events of the day, what do you think?

or perhaps this with a couple of 'charts of the day'.

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It was indeed 'strange'.  Trading sideways.  Lots of opportunity to lose money. ;)

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8 hours ago, dmedin said:

It was indeed 'strange'.  Trading sideways.  Lots of opportunity to lose money. ;)

Yes, something of a trial last week with a weekly chart doji all round though volume remained high but a big week coming up with rate decisions and mon pol statements for Japan, US and GB (see Econ Calendar thread).

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Hi casy I believe we should restrain our selves for now from DAX or FTSE as its in a bit of danger zone from here anything can happen hence better to wait until they go out of consolidation phase am i right?

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11 minutes ago, mykig said:

Hi casy I believe we should restrain our selves for now from DAX or FTSE as its in a bit of danger zone from here anything can happen hence better to wait until they go out of consolidation phase am i right?

@mykig, you are right that things are a bit congested at the mo but even within zones of consolidation price will continue to test boundaries so I'll be looking at the intraday pivots. Dax is sitting the the pivot point trying to decide whether to test R1 or S1 while Ftse looks to be heading down to retest the pivot point, will wait for the London open for a clearer indication of the aim of the morning session and once direction is clear look for a pullback on the smaller time frame to join, but because of the consolidation the targets are not big.

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Dow continues to lurk just below resistance at 26250 in a bull flag just waiting for a reason to break. Dax looks like retesting support at 12047, Ger and EU econ sentiment data coming in at 10am.

Nikkei is testing support at 20919 while Ftse is sitting mid range at 7362.

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Big break upward yesterday on news ECB worried about low inflation, slowing econ and talking up rate cuts and then news of extended meeting confirmed at the G20 between US and China.

FOMC data today at 7pm with presser to follow at 7:30pm.

Dow, Dax and Ftse all eyeing up big targets dead ahead.

Daily charts;

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Markets already pulling away now that FOMC is out of the way. Dow reaching for resistance at 26708 while Dax has 12463 just ahead. Ftse is a bit out of shape with Boris looking the likely winner in the tory contest.

Daily charts;

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Trump pulls back from starting air strikes on Iran after Congress gave the go ahead. Revealed that US and China negotiators are unprepared and scrambling to come up with something to agree on for next weeks G20 meeting.

Dow pulls back under 26708.

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"IT'S TOO MUCH, TOO FAST!" $SPX is up +25.9% within the past 125 trading sessions so I put together a chart showing every time that happened since electronic trading began in 1983. It's not bearish unless you squint and lie to yourself.

 

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A look at the monthly charts and what a great month so far for Dow working it's way back up to be toeing the line of the all time high just in time for the G20 starting Friday. Any news concerning China US trade likely to be out during next weekend so things may be a bit cautious til then.

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US indices just hangin around below the highs, Average True Range 5 period just bouncing along the floor. Thinking just waiting for the G20 to produce nothing, so then increased tariffs and then a move back down to find support.

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Guest making

Dax was down due to few companies expected growth figures were reduced don't you think casey it might push upwards today if not much

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hi casey don't you think dax might move up today 

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21 minutes ago, mykig said:

hi casey don't you think dax might move up today 

I flippin well hope so, any direction will do, I fell asleep yesterday afternoon;

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yes exactly it was down cose of few companies specially mercedes growth down from expected but lets hope for good today as its new day and new dawn lol

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All the indices pulling back yesterday, should find support fairly close while waiting for the G20 meet and US/China talks starting on Friday.

US Durable goods data today, have remained poor all year so far, expected at 0.1%, the real tester on the current state of the economy will be US GDP data tomorrow.

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