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watch out, Trump just responded and has upped the stakes, if you have an open indices position you might want to think about looking to the weekend markets for a hedge.

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President ****-for-brains is out of control and needs to be impeached ...

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1 minute ago, dmedin said:

President ****-for-brains is out of control and needs to be impeached ...

so that you can buy these great new very cheap cars from China, but they look vaguely familiar for some reason¬†ūüôĄ

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Indices continuing to bounce within the recent range, Dow currently midway back up. US GDP on Thursday (prelim) expected at 2% (annualised) could provide the push either way for a break.

Ftse sagging under the weight of Brexit uncertainty. 

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Pause day candle for Dow yesterday, tried higher and lower and didn't like either so will be waiting for signs of direction. Ftse perched on the weekly chart key support (red) while Dax looks keen to check the top of the recent range. Not much news wise on the calendar today so will just have to wait for a Trump tweet¬†ūüôā¬†

So far a pretty good week for the S&P but the US GDP figures tomorrow will decide it.

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It's all about the US GDP (q/q) today 1:30pm and anything outside of expectations could break this recent range, 2% is the forecast.

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Something for the contrarians, latest investor sentiment data; bearish sentiment is up over 42% while bullish sentiment is down to 26%. Barron's and Bloomberg data.

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Kip Herriage¬†@KHerriage. AAII Sentiment Survey: 26% bulls, 42% bears w mkts just 4% below ATH. Stunning readings. As a contrarian, nothing is more bullish. ‚ÄúIt is wise to be fearful when others are greedy and greedy when others are fearful.‚ÄĚ Warren Buffett

 

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Dax and Dow currently testing the range highs, US GDP came in as expected at 2%, consumer spending is up, 10 year yield back up to 1.5% so trade war not affecting the US economy too much while in China exporters are praying the  weaker yuan will save them from Donald Trump’s higher trade war tariffs.

Should be interesting tomorrow though month end flows and Monday is a US bank holiday which might dampen things.   

https://www.scmp.com/economy/china-economy/article/3024557/china-exporters-praying-weaker-yuan-will-save-them-donald

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Sat at range highs except Ftse which continues to struggle. Month end today so watch out for the risk manager tapping you on the shoulder and ordering you to close down all those losing positions¬†ūüôā

China release footage of large numbers of armed police training close to Hong Kong and Huawei face new allegations of technology theft by US prosecutors.

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Out of hours breakout higher of the month long range, can the US market open push it higher?

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A drop on the hour trading on Sunday but should be an interesting day as price levels still at the recent range highs and a reversal bar on the S&P weekly. This week sees US PMIs tues, Cad rate statement wed,  and US Non Farm Payroll on Friday, also on Friday is Fed chair Powell's economic outlook speech. 

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If the GBP is tanking and FTSE rising then somebody is loving British exports.......But I would say inflation is a big issue Britain imports so much we cant have a weak pound for too long now

Edited by Zoryana

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2 minutes ago, Zoryana said:

If the GBP is tanking and FTSE rising then somebody is loving British exports.......But I would say inflation is a big issue Britain imports so much we cant have a weak pound for too long now

yes the pound is suffering as a no deal Brexit looks increasingly likely and could yet retest the lows that came after the referendum back in 2016 (when everyone thought Brexit meant no deal anyway). We have the quarterly UK inflation report this Wednesday should be interesting though it's been fairly low and steady around 2% for this year so far.

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IGSquawk 

GBPUSD options for 01 NOV 1(day after Brexit deadline) are now live. Prices currently implying 600 pt move.

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Pause candle for Dow yesterday, still at recent range high so anticipating a test of Friday's high 26550 otherwise will need to find support. Ftse caught up with the others yesterday and sits at recent resistance while Dax hangs onto the small gain it made on Friday.

S&P sits just below range high needs a spur for one direction or the other, must be about time for a Trump tweet.

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55 minutes ago, Caseynotes said:

 

S&P sits just below range high needs a spur for one direction or the other, must be about time for a Trump tweet.

 

 

 

President Bone Spurs to the rescue :D

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Seeing people drawing attention to the US indices A/D line as in the pic below and also the NYSE A/D line are all making new highs.

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The Indices are pushing up strong this morning after yesterday's disappointment at the US manu PMI, non-manu PMI coming up tomorrow expected at 54 should be interesting. Ger PMI at8:55am and EU PMI at 9am today.

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You must know something that I don't, I tried trading Wall St yesterday and got bent over a barrel.  Maybe you're just clever enough to know that analysis is easier than actual trading :D

 

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3 minutes ago, dmedin said:

You must know something that I don't, I tried trading Wall St yesterday and got bent over a barrel.  Maybe you're just clever enough to know that analysis is easier than actual trading :D

 

don't trade when high impact news is about to come out, why do you think i bother to look them up and even post them every morning, apart from that it's just a case of tracking price though the levels. 

going back to level 2 data there was another vid which explained quite well using l2 to find support and resistance levels, real orders get clustered at specific zones (coinciding with obvious chart support/resistance levels) , once price breaks through them there is relatively little standing in it's way until the next level. if instead price is rejected at a level it turns and heads back looking for more support (buyers or sellers) if it's to have another go, i have mentioned all this dozens of times before but you know how it is. 

 

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L2 data 'n' stuff ... yikes.  Can't I just get away with a quick Fibo? :D

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2 minutes ago, dmedin said:

L2 data 'n' stuff ... yikes.  Can't I just get away with a quick Fibo? :D

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fibs are used by some big traders who can move markets sure but nothing like the number who use obvious chart based support and resistance levels which, as mentioned above, also correlate with order clusters on the L2 and also with options futures positioning.

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Should have gone long on Thursday 29th August and kept holding on to this very day, my bonnie wee bairns.

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3 minutes ago, dmedin said:

Should have gone long on Thursday 29th August and kept holding on to this very day, my bonnie wee bairns.

ah, I can see where you're going wrong, you might be Chinese perhaps but we read the charts Left to Right, not right to left, easy mistake to make. 

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33 minutes ago, Caseynotes said:

ah, I can see where you're going wrong, you might be Chinese perhaps but we read the charts Left to Right, not right to left, easy mistake to make. 

What?

I'm doing 'market analysis'.

It's easy!

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6 minutes ago, dmedin said:

What?

I'm doing 'market analysis'.

It's easy!

ah right sorry, i thought you were just trying to predict¬†the past.¬†you'd get even better results if you used higher time frames¬†ūü§ł‚Äć‚ôÄÔłŹ

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