Caseynotes

ha yes, therein lies the nub. you pay your money and take your chances. subjectivity is at the heart of all indicators, there is no right and wrong way, just your way.

Dax pausing at the weekly R1 and Dow within striking distance of it's all time high. H1 charts;

Yes, may well have found bottom at last. Impressive Tues candle, will be interesting what happens on the open today.

That's correct, with a variable spread system you need to keep an eye out. It all depends on the current availability of prices from liquidity providers and a spike in the spread may last just a couple of seconds or a raised spread may be longer for planned news events etc. The advantages of the variable system are a lower spread overall.

I wouldn't be in a rush to short that, you can see why it's been held up from continuing higher but the bulls may just be just catching breath and gathering for another push up.

It's not sure what to do having just completed that fill of the gap from Oct 2018. May look to test support or may just drive on through. Weekly chart;

Indices up, Bonds and Oil down. Gold and USD up. Ger manu PMI at 8:55. UK manu PMI at 9:30. US jobs data at 1:30pm. US manu PMI 2:45pm. Note these are the Markit PMI's not the more important ISM PMI's out tomorrow.

Dax and Dow continue to push up after the dip down on Mon and Tues. Ftse looking to follow back up to the monthly chart resistance (purple). Daily chart support levels in orange.

The bulls wait for the last hour of the last session before the end of year bank holiday to storm it. Happy New Year!

Top performing stocks in the S&P 500 2019; and the winner is ... 1. $AMD: +146% 2. $LRCX: +114% 3. $KLAC: +99% 4. $TGT: +95% 5. $CMG: +93% 6. $QRVO: +91% 7. $CPRT: +90% 8. $XRX: +86% 9. $AMAT: +86% 10. $AAPL: +84% 11. $ARNC: +83% 12. $SWKS: +80% 13. $ANSS: +79% 14. $MKTX: +77% 15. $GPN: +75% Investing.com

Commodity returns for 2019. and the winner is ... Palladium: +57% - WTI Oil: +34% - Coffee: +30% - Gasoline: +29% - Rice: +28% - Soybean Oil: +27% - Brent Oil: +23% - Platinum: +22% - Lumber: +21% - Heating Oil: +20% - Gold: +18% - Lean Hogs: +17% - Silver: +14% - Sugar: +12% - Wheat: +11% Investing.com

All markets are linked be they FX or whatever. Fundamentals are the drivers and give markets direction and targets where equilibrium might be re-established while technical analysis tries to forecast the drunken route price will take to get there. Order of Importance; 1/ FOMC mtg rate decision 8x a year. US interest rate changes are the most forceful market movers. 2/ US Non Farm Payroll, monthly is a big influencer on the FOMC mtg's. 3/ US services PMIs, a leading 'state of the economy' indicator. 4/ US manufacturing PMI's, as above. 5/ US CPI, inflation. Not so important lately as there hasn't been any. All the other first world economies take their lead off the US economy (US sneezes rest of world catches a cold)

didn't think you liked millionaires being head of state? 🙊

Tiho Brkan @TihoBrkan 4h "I think this chart by @MacroOps is THE most simple yet most useful. These gurus who go on a “Recession Watch” every year are trying to randomly pick one of those black candles. Seriously? This is what you’re going to do with your money? And they charge for this “research”?"

Added the latest betting odds;

The Dems having claimed urgency and speeding through the impeachment process then decided to sit and wait before presenting it for a vote by the whole house, almost like they got the guilty verdict and now need to wait for the crime, or perhaps this ... Interesting tweet from Trump just now; Donald J. Trump @realDonaldTrump 4m "The Democrats will do anything to avoid a trial in the Senate in order to protect Sleepy Joe Biden, and expose the millions and millions of dollars that “Where’s” Hunter, & possibly Joe, were paid by companies and countries for doing NOTHING. Joe wants no part of this mess!" Another tweet from Drudge from last week ...

Good little vid from Rayner Teo looking at the differences, pros and cons of Day Trading, Swing Trading, Position Trading and Transition Trading.

There are a few online sites touting for webinar sign up for the US nfp normally held on the first Friday of the month but don't bother as it's on the 10th of Jan this time round instead. The upcoming Friday though sees not only the ISM US manu PMI at 3pm but also the minutes of the last FOMC mtg are released at 7pm and can also move markets.

Another free excel trade journal download link here (see the 2012 update, includes column chart insert); https://www.earnforex.com/blog/advanced-forex-trade-journal/ download zip, open the excel file, click 'File' > save as > right click on file > Attributes > uncheck 'Read Only' > rename and save. see the original journal's description here; https://www.earnforex.com/blog/organize-your-forex-trading-with-trade-journal/

Good chance gold is rising because it's being bought up as a hedge for the increase in positioning of institutional traders in US equities (see repeated chart below from a previous post above) Also, people are talking about USD scarcity (in spite of printing) in the face of up coming emerging markets debt maturity which will need to be serviced in USD.

Dax looking to push up off 13107 and try to clear overnight resistance 13137 then target the PP. The next support level below 13107 is the daily pivot S1 at 13054. H1 chart;

A dip down to check last weeks lows for Dow and S&P, will it be enough? China PMI's overnight look stable at just above the 50 mark (slight expansion). Graph below shows how effective Trump's trade war has been in stifling China's exports to the US and why China must get a move on to resolve the dispute. Talk is that the hard work has been done, China officials have been invited to Washington for deal signing and that phase 2 is not expected to take so long as phase 1 to complete.

Nope, went straight on for another test support, currently resting on the weekly S1. H1 chart;

Having checked support this morning Dow should be looking for a test of resistance next.

Hi, not sure if it's still the case but the Beeks VPN IG provided was free if you maintained an account balance over £5000, otherwise a £50/month charge was applied. A quick call to the helpdesk will clarify.