Support at 5955, resistance at 6050. Tight range and volatility continues

Support 5949 5946 5930 5914 5877 5832
Resistance 6004 6058 6073 6086 6100

Good morning.
Market Summary for Thursday
The oil price was up over 5% at one point after Russian officials decided to talk to Saudi Arabia and other OPEC countries about cutting output to boost prices. With no drag from ex-dividends the FT100 looked like it was going to power ahead from the open and soon breached 6000, however profit taking soon kicked when oil prices fell back and equities were further sold off on events at DisneyLand Paris which affected tourism related shares in particular.
The FT100 quickly fell 100 points to go below 5900 but managed to close around 5931. This shows how traders are still very nervous and any bad event sends them running for cover. It will probably take a few days or weeks of consolidation before a broad based rally can hold.
For our trades I had 6008 resistance and 5895 support – didn’t expect both levels to be taken but ended up being a rather good day.

US & Asia Overnight from Bloomberg

  • Friday is the busiest day of Japanese reporting season
  • U.S shares gained Thursday as investors digested earnings

Asian stocks climbed, extending a weekly gain, after U.S. equities rallied with oil and as investors awaited a Bank of Japan decision on monetary policy.

The MSCI Asia Pacific Index increased 0.2 percent to 119.80 as of 9:01 a.m. in Tokyo. While the regional gauge is heading for its first weekly advance in four weeks, it’s still poised for a 9.2 percent slump this month on concern about a slowdown in China and a rout in oil and other commodities. Speculation that central banks around the world will intervene to steady financial markets helped shore up investor confidence over the past week. The Fed left key U.S. interest rates unchanged and said officials were “closely monitoring” developments from China to Europe for any adverse impact on the economy.

“After the big selldown we’ve seen in the early part of January, we’re seeing a bit of stabilization,” Matthew Sherwood, head of investment strategy at Perpetual Ltd. in Sydney, which manages about $21 billion, said by phone. “Is this the calm before the next storm or is this a real opportunity to come in and start buying cheaper assets? I still think we’re in for a very tough year.”

Japan’s Topix index rose 0.7 percent. The BOJ meeting that will end with a policy announcement Friday is one of the most anticipated gatherings since Governor Haruhiko Kuroda’s debut decision in April 2013 to launch his monetary easing program. Only six of 42 economists surveyed by Bloomberg are predicting that Kuroda’s board will expand already-record stimulus.

Government data showed the nation’s core inflation increased 0.1 percent in December from a year earlier, in line with economist estimates, while industrial production fell more than expected.

Japan Earnings
Friday is also the busiest day of Japan’s earnings season, with 333 companies in the 1,934-member Topix scheduled to report. Of the firms in the benchmark gauge that have already posted results and for which Bloomberg has estimates, more than half missed analyst predictions for profit.

Japanese Economy Minister Akira Amari resigned after a week fending off allegations he received money in return for favors. Amari is the most influential minister to step down since Prime Minister Shinzo Abe took office in December 2012. He was Japan’s point man in the Trans-Pacific Partnership regional trade talks, and spearheaded Abe’s strategy to boost the nation’s competitiveness, known as “Abenomics.”

South Korea’s Kospi index lost 0.4 percent. Australia’s S&P/ASX 200 Index rose 0.3 percent. New Zealand’s benchmark gauge was little changed.

China Slump
Futures on the FTSE China A50 Index added 0.1 percent in most recent trading, while those for Hong Kong’s Hang Seng Index slipped 0.6 percent. The Shanghai Composite Index fell 2.9 percent on Thursday as concern that slumping commodity prices and a weakening economy will reduce corporate profits overshadowed the biggest cash injection into the financial markets in three years.

E-mini futures on the Standard & Poor’s 500 Index climbed 0.1 percent on Friday. The U.S. equity benchmark gauge gained 0.6 percent on Thursday as a rally in oil bolstered energy shares and investors digested earnings from Facebook Inc. to Under Armour Inc.

Oil futures gained as much as 1.4 percent on Friday, extending Thursday’s 2.9 percent rally, after Russia’s Energy Minister Alexander Novak indicated he was willing to meet with OPEC next month to coordinate oil-output policy. OPEC delegates said they have no meeting planned with Russia. [Bloomberg]

FTSE Outlook and Prediction

FTSE 100 Prediction
FTSE 100 Prediction

We have had a decent overnight rise in the end with that 5895 long area from yesterday holding well. It was a hard one to know if banking or holding was the best option with the long from there last night. I went for banking it to have a more peaceful sleep! Anyway, for today I expect its to test the fib pivot at 6004 first thing this morning at which point we may well see a bit of a dip back down to the pivot at 5949. We also have R1 resistance at 6011 to content with first thing. If the bulls are able to build on the rise from 5895 then they might reappear at the pivot for a push up to the top of the 20 day Raff at 6055. We also have the daily coral at 6057. We actually spiked up to 6004 overnight also, on Asia news at 0330. As per usual on a Friday I expect it will be a bit odd, though we don’t have any major news out today. If the bears break the 5950 area then a trip back down to 5895 and 5835 where we have the bottom of the 10 day Bianca is likely. I am still expecting 6050/6100 as a toppy area for this rally from 5600, and yesterday oil hit that just below that $35 level I have mentioned ($34.80) so it will be interesting to see if we start dropping on that with the next leg down to $16.

195 Comments

          1. Yeah unlucky, I was anticipating a stop hunt exhaustion to 660 didn’t happen. This might push back to 800.

    2. Wow, a good entry. I wish I saw your post earlier, but eventually figured out that long will happen. I had earlier longs for scalps 690, 670 at mid 10-11am, got rid of them. Now had long, see below.

  7. Trying to build a base here, till 92 and 9700 break and hold, going nowhere.
    Quiet morning ahead? Looking forward to the DOW already, will they have another go at 250?

      1. Cash chart 235 is the recent high, so that’s first target, a fail then it’s back to 15900 support, a break could have the legs for ~420 is what I see fwiw.
        Friday, difficult though…

        Bulls need to get their act together and seize the moment PDQ, this bit of oil pressure release and random CB actions won’t last very long.
        Good oil analysis on IG by Evan Lucas today, I stick with my $37 Brent short on that one, and pressure back on equities.

        1. I’ve noticed that it peaks at 235 so far tmfp I think very soon it’s going to burst through I really do.One thing I have noticed whenever we get sucked into a feeling of false security at certain levels……….and we are pretty certain we have its range figured out……that’s when it pulls one of its famous Dow surprises…..got to be really nimble like you are.

          1. Not going to go off on a long boring one BUT, grasp this, TA is the practical application of the Einstein quote about madness and repeating stuff, the default assumption is that UNTIL it breaks, resistance is just that, resistance.
            If you want to try and second guess the future, that’s a different thing altogether.

          3. Just like to add tmfp that Nick is good with charts and he has resistance up at 6050 and you yourself suggested the possibility of 50 / 100 on Ftse and you did suggest the possibility of 420 dow if 235 does break to the upside…….am I wrong in thinking that if the Ftse hits Nicks 6050 it could push the Dow well North of 235 or am I missing something?

  8. Morning all
    Thanks to all for your comments yesterday.
    Told my wife about my brave deeds, expected an earfull on the phone but she was understanding and I slept like a baby. Infact made myself a fryup as well.

    1. If you have your wife behind you Paul that is fantastic,between you …..you should make a great team…I think she may have taken some profit on ydays trade….on the other hand though she might not have been in so deep….or possible not even traded…..it’s just a balancing act but I think she would have suggested you reign it in abit.Very best of Luck mate and good on your for having the balls to try.

      1. Oh I forgot to mention, she did ask me to jot down my trades and why I did what I did, so she can have a look.
        You know after I wrote it down, just comes down to, emotional blackmail on commonsense.
        How are you doing, are you up for the year.
        Any trades today?

        1. I’m still recovering from my Paris Disaster.i have been at this for nearly 2.5 yrs.The first year I made a lot of money then blew the bloody lot.i made it all back again and was trading with my winnings…..I just got cocky and overconfident and was placing trades that well I’m not going to talk about the sizes I was trading……it was bloody stupid……I could have lost EVERYTHING…..but I wasn’t fully aware of the risks,I was more interested in the bloody Aston Martin showroom like a complete Idiot.Anyway needless to say I blew the bloody lot again because I was taking on way too much risk. I got it back xmas 2014 in an open trade but didn’t close it and slipped back again..I got most of it back by the Greek crisis and then it was downhill to the Paris event……In a nutshell I could make a long long series of medium size gains then get overexposed and then take a big loss…My biggest failure by far,,,,,,was going in too deep. I didn’t relate the numbers in my P and L to real money .Im different now….I have an old green pound note near my computer to remind me what ONE POUND is,and I know that it will buy me a 4pt bottle of milk for my tea. I’m slooooowly regaining my account to the level I was at before my Paris disaster. Day before yday I made £124.50 been making small bits here an there….I did what was to my mind my best trading yet a couple of weeks ago…..I did 7 losing trades and 25 winning ones in a day and made 4x more than I lost doing this hedging thing I’m playing with…that was a good day and I was in the zone. Anyway I have probably made pretty much all the mistakes hopefully now I’m trying to put that hard earned knowledge to good use…..If I can pay the bills while I continue learning that will do me…..I have no illusions of grandeour anymore.i just trying to learn something new every day…………Bloody Hell I’m a boring sod going to have another cup of tea Good Luck and no surrender :0)

          2. I have three positions on Ftse all long from 55 -63 -79 and a Dax that’s in the red by a chunk.dont mind running red ink but only small size.

          3. Yes I think some honest talking is what is needed….i think a lot of people hide behind a facade of bravado and only tell us how much they have made but conveniently forget to mention what they have lost…..a lot of it comes down to an inferiority complex I reckon..I think if we cock up we have to openly admit it…..evaluate what has happened….and then incorporate what we have learnt into our future trading…..after all we had paid for the knowledge that we have gained…..I have made the same mistakes multiple times though before I realise I need to change the areas that don’t work.Its very very very hard to take all the knock backs but it’s the ones that fight on through that will become successful I reckon.

  9. 92+ and 9700 rejected again, if this tight range is going to break, downside looks favourite, esp DAX, <9960 = another 30 pt leg down.

    1. Agreed, specially with oil pulling back. Will keep my order in at 54 and see what happens.
      Will be a blind trading day for me. Going in a bit to play some pool with the gf and theres no signal anywhere near, then off to London Bridge for some boogey.
      May wake up on Saturday alot poorer with a banging headache.

  11. A bit of FTSE only strength out of the range, DAX still languishing, 6010 next target probably worth a short

  12. Collected 31 points today right now on Dax. Uff, this long really worn me out, longs seem to be tough these days, so as shorts. 9680-9708

      1. Just checked my records, this month from 1Jan16 total appeared to be 220 points of my full stake. I know it’s not much but I was actually quite surprised. I traded occasionally. But I think it’s quite useful to have someone in the house as it makes you choose trades carefully. And stop losses of course.
        One day, yesterday, when I was left alone, I nearly blew it all up. So, it just gave me some thoughts…

      1. There’s no substitute for experience,as usual you nailed it tmfp,time for another cup of tea for me:0)

          1. So you put your stop loss at the highest point of the three previous candles tmfp…….is that right?

        2. Thanks, a nice ‘normal’ rsi scalping day after all the antics, pleasantly surprised at the + column so far.

  15. Morning all, sitting on the sidelines again today as have no idea what is going to happen next.
    Unlucky yesterday Paul, but the old adage “you never make a loss by taking a profit” comes to mind! Anstel’s pound note is a good idea, personally, I pay myself each month, like a business, any left over means bigger bets, any shortfall means less deposit. Therefore, if for instance I see a month’s worth of profit on a trade I’ll take it whether it has more to run or not. As tmfp says TIAAT!
    Cheers

    1. I have running targets to pay myself,same thing as you,but I have a countdown target too,working on a bigger time frame,adding losses to it and subtracting profits.I find that really useful/motivational.

    2. That’s a good idea chippy….”if I see a months worth of profit on a trade I’ll take it whether it has more to run or not” thanks for that.

    3. I trade to live too, treat it as points when I’m doing it, have a monthly standing withdrawal from trading account, I thought that was really tempting fate when I set it up lol, but it’s nice to see it covered early in the month, then I’m more amenable to taking bigger punts.

        1. lol very modestly actually mate, like my motorbikes and regular sunshine though.
          Anstel was talking about Aston Martins earlier, I nearly bought a Ford GT40 when I was 19, but was a grand short so settled for a BMW 3.0 CS for 5 grand cash from Park Lane. It got nicked from Heathrow short stay never saw it again.

          2. That was before the M series Nick, gold with polished alloy wheel arches, no back spoiler. SRK 7N reg, looked like a shark too.

          7. Proper cars…. With proper metal bumpers…… Points and capacitors…..a pair of DCOE s on the four cylinder stuff….No ecu’s…..no catalytic converters……. And the same road tax no matter how big the motor was………..Not like that now…….The Fun Police have ruined it.

  16. Bagged 80 points for today. Thinking of calling it a day or perhaps offer 40 of them up for a few orders.
    Good luck all

        1. I don’t follow any news Haives. I only follow the charts. For me that was a stop hunting on the longs which I was anticipating and duly long order taken. Will see how it goes expecting 7800.

          1. Thanks, can see it Dax 9800 and FTSE 6020. Dont think the bulls have it in them today, but its Friday, so you never know…
            Gl

  18. Just hoping the poor earnings season Stateside to kick in. The markets have been remarkably resolute the last few days.

    1. Anton can I ask you something? some of your recent comments make me think you may be holding a short on the Dow from the sub 15600 level?

      1. No, I’m not. I am holding shorts on the FTSE from around here. The FTSE tends to move in sympathy with the U.S. markets. So big falls in the US very often translates into the same here. I did short Dow at 16170 and closed it for some profits earlier this week, or was it late last?

        Anyway, if you think about it, I know the markets generally tend to get a boost from central banks cutting rates, but we’ve been here for the last few years now. Any further cuts mean they are showing desperation. Also, earnings stateside have been pretty weak, notably Apple with its weaker than expected forward guidance and Amazon missing forecasted earnings yesterday by a big margin.

        1. Oh I’m glad Anton…..I nearly mentioned it the other day but thought I best mind my own business.i had been playing around down sub 700s with these hedges I’m playing with but I was well aware I could get stuck in a bear trap. I’m not even thinking of considering shorting the Dow until above 300 minimum.

          1. I think if you keep your eye on oil and China ……..don’t think the fed is going to do a great deal with rates.i reckon they only put them up to save face…….

          2. It’s best you use stop losses. Sometimes, the price might go one way and not potentially return for years. For example, five years ago if you had shorted at 4000 as a hedge you wouldn’t have seen the price return to those level for a long time, if ever.

            You need to be very careful with hedging. Hedging works well as a defence mechanism, but usually using different instruments, not the same one.

          3. Yes hedgeing is dangerous for sure,I’m just experimenting with small stakes……I think it’s got potential ……maybe I will try it on the ASX
            Like WSF mentioned the other day.he said minimum size is about 24p so it’s not to bad.

          1. Thanks Havies, This is what I replied to tmfp. Probably also my last trade of the day.

            tmfp says:
            January 29, 2016 at 12:15 pm
            Looks like it’s broken out now the other way unlucky. Stops a bit tight with hindsight. 🙁

            Reply
            RJ says:
            January 29, 2016 at 12:53 pm
            Yeah unlucky, I was anticipating a stop hunt exhaustion to 660 didn’t happen. This might push back to 800.

  20. Just looking at that nice big green candle on the 2 min Dow up to 186…….I wonder if that’s a big pension or investment company placing a number of large orders in anticipation of some strong rises…….Just thinking out loud….if I’m talking rubbish and I’m a mile off I apologise. Any thoughts?

    1. DOW’s not open yet, index was just mimicking FTSE and DAX, don’t know what it was about though, prolly a minor algo stop hunt like RJ says.
      Proper traders don’t use index platforms much, only us oiks 🙂

      1. Target tmfp? 6020 seems to be a bit of a ceiling and wonder whether I might have a bit of punt at 6020 that it wont get through.

        1. I still think the bulls will want a try at 235+ and weit could run away to 6050 ish today pm possibly.
          Although 20’s prev high there is the possibility that this is the upside breakout starting, poor R/R. On the other hand, sell into strength……..
          I’m knackered and watching for the rest of the sesh.

    1. I think we’ll take that random top pick out at b/e while the yanks go sideways

      LOL I can see anstel’s grin from here 🙂
      Well done matey, dare I, who know nothing, suggest considering taking a bit of profit soon?

      1. Thanks Paul closed a bit early but I remember The Thief in the Night…a bird in the hand Etc Etc.

      1. If you can’t beat em join em lol ……….oh god I hate shorts……..if I hide my tin hat I will feel better lol :0)

          2. Dumped them for +1 on the 48.5 and + 6 on the 42……….secret weapon fully armed :0)…… God I hate shorts……I can hold losing positions no worries but SHORTS Jesus I’m scared to bloody death of em LOL……..ohhhhh I need a cup of tea :0)

          1. Bit cautious, bit knackered but yeah, 50’s enough for today
            “Move along ladies and gentlemen…”

        2. Look at that, it has just dropped 10 points, eat your heart out Warren Buffett!!! Meanwhile, I just checked single stocks portfolio (that has been a bit of a mission over the last few days) and I’m showing a profit today….of…..wait for it…..£34.80.

      1. nice bit of trading Paul
        yesterday’s a long way away now isn’t it? 😉
        Recommend sitting on hands now and re running your trades mentally.

  28. ok not waiting for 7800 as its a friday. Closed my Long at 780 for a very nice 120 points 🙂 Have a good weekend everyone !!

  29. Got in at 38 x2 and 49 x1, all on trailing stops now.
    Have a good weekend, off to paint the town red

    1. Oh that’s pretty cool I seem to have two longs one at 19 and one at 18….. I didn’t think the 19 had been placed.

    2. Make a note of that action on DOW anstel.
      Broke 235 resistance went yeehaa till overbought (@ your 16300), has now revisited the previous resistance area, which is now support and bounced.
      Common formation, the strength of this bounce now indicates how much more upside in short term.

      1. It didn’t want to push past 300 this time did it tmfp.i think my next trade may be a small Dow short from 300 then if it gets there,do you think it has much chance of pushing North of 300 tmfp……. I think it could do myself?

        1. As I said earlier, a clean break of prev hi 235 and a run on till overbought, pull back to support, bounce, then next real resistance is 400’s technically. 300’s just a number no TA significance other than a temp over bought high.
          Doesn’t want to go under 150 now though or momentum’s gone short term meaning possible fake breakout. Possible long entry if other indicators confirm. Or “feelings” 🙂

          1. Ok thanks tmfp I think I will just watch the Dow then and see if by any chance it can approach 400… I don’t have any other feelings or ideas at this time.It seems to be gaining strength though the Dow lets see how high it can get. Just checked I have bagged 241 points in total today if you add up the points made separately on each trade if you get me……I’m pleased with that….mind you I did hold two Ftse trades for two days….. My Dax long is down about 22 at the moment though.

        2. I really need to learn how to handle holding shorts…..it’s because I got very badly burned on them once and the memory won’t go away…..I will keep trying though….

          1. Getting a good entry is essential, 85+ 3min rsi you rarely get badly burned, bang on a b/e stop and play it, basically like today.

          2. Right thanks tmfp…..the 3 min chart yeah…. and wait till RSI 10 hits 85 gotcha I’m goin to try it again at some point

          3. Oh yes and the break even stop yeah great….that takes the pressure off…..that’s just what I need cheers.

    1. Out for nothing.
      A brilliant day, looks like smiles all round.
      Now a couple of hours kip and a 300 mile drive.
      Good weekend all, catch you Monday.

      Aw shit, ok, short 62

          1. hi there NICK.
            i have been following your site and reading the lovely comments for a while now.
            just wondering how the sb firms can influence the market?
            you say they are trying to squeeze people out of their shorts; i just don’t understand how.
            if you don’t mind answering

  33. I am quitting well I’m ahead. After starting spread betting a few months ago I have decided I will call it quits while I am stillahead. I am up about 400% to on original deposit. But latterly,I’m have noticed that stock market behaves irrationally, meaning it often involves second guessing it. Successful spread betting is really all about money management. Although good technical analysis works, particularly with equities, it only works quite well, not much. But to be honest, you can literally enter a long or a short at any random price and it all then comes to money management. Even Zak Mir, a professional chartist, suggests the same. You enter into a trade and then it’s a matter of it going in your favour by a small distance and you then bring the stop loss to break even. If it goes a bit more (letting profits run) you bank the profits, or let it come back to hit your stop, which by now is either at break even or showing only small loss. Good technical analysis will help you give you a slight edge.

    But I have decided that eventually luck will run out, and I should quit while ahead. Then there are the spread betting firms. Absolute jokes they are. They are scammy. They must have completely dishonourable people working for them, knowing it’s their job to basically to rob their their clients.

    This is not to discourage anyone else, it’s just my feelings from watching price movements and the platform you have to work with. You are not only battiling price movements but also the spread bet firms.

    1. It is possible to win of course. Its just harder than most people think, and as you say, its not a level playing field.

      Good luck Anton

    2. Good luck Anton, not many people can get up and leave the table with a profit.
      The rest of your comments +100%.

      1. Yes there’s a definite slope on the playing field,I think your appraisal is very sound…..Good Luck.

        1. Most people cant do it and a big part of the motivation to keep going long enough to be able to get consistent is not having another option in my opinion.You definitely dont need it if the worse people you have ever come up against are U.K financial services types and if you have a life experience that otherwise supports a belief in luck and fairness,all the best.

  34. The Dax seems a bit lethargic compared to Ftse and Dow at the moment……if anyone’s still in the office?

      1. Oh hi WSF how you doin?…well Ftse at 6109 to buy……Dow 16337…….Dax looks a possible buy,I have long on Dax that is up about +30 but don’t really want to do much on a Friday night……what are your thoughts?

          2. I,dont like this to be honest not many levels left and too much space between them,Dow,I think tmfp tipped us the key earlier his mth close no. of 16284,allowing for a Fri sell off to the close think this run up is just to guarantee an end of day above tmfp’s no (havent checked it,but sure he is right).I wouldnt be surprised to see it touch 400,but would rather scalp short here when it turns.Haventdone much for the last hr,all cash.Had a really good week to be honest,took some losses Thurs,but back at my high for the week,so pretty pleased with that,reducing the damage from losses is my goal at the moment,more than increasing the win rate I mean.How was your week?looked like it was good.

          4. Yes I’ve had a pretty good week to be honest…..nothing yesterday +124 points weds.on one trade ,..today I have gained on different trades as follows +53 +73 + 80 +1 +6 +12 and +13 I have a Dax that’s open and showing +20 but that could change…Added on to that I made a few points hedging the Dow last Sunday night and some other bits on Ftse mon and tues haven’t got a precise record without checking my trade history but yes it’s been a good week I’m pleased.

          5. Oh that’s good,well done 🙂 I think ending the week with that feeling of improving makes it worth while,mind you the money is nice too 🙂

          6. Thanks WSF I have a goal…..that’s to regain the account size I had when I had that Paris disaster……in closed profits I have got nearly half of it back to far. This has been one of the hardest months in trading I think I have. I’m giving it everything I have to be honest……pretty much 24 / 5 ……maximum commitment.and living as economically as I can so I can focus on trading.

          7. Know what you mean,my target is all withdrawl based at the moment,got to clear a situation I slept my way into,hopefully this year,then I want a couple of months off,trying not to focus on all that though,just putting the hours in.

          8. Yes well like Tom Hougaard says its just a question of repetition and hard work……..he said in one of his videos on you tube he was living off beans on toast in the early days.I think to get something out of trading you really have to put the hours in and learn by your mistakes,a lot of the top traders have blown up multiple accounts before they found consistency…..if I have learnt one thing it’s if you try to rush you go backwards so it’s slow and steady for me now.When I regain my account size I can trade slightly bigger but none of the crazy stuff I did when I started that’s for sure!

          9. Yes,sounds right,looking for a point where the track record takes over.Paul Tudor Jones said something about how his stakes climbed over time and the size of trades didnt matter,he had no emotion about more and more.I definitely feel that lately,that you can trust your average over time to bail you out and make you money.It’s made a massive difference watching tmfp’s consistency,really appreciate that opportunity.

          10. tmfp has been a real inspiration I agree,I’d like to buy him a drink one day,he has certainly taught me a few things, I think we all learn things off each other on here, it’s really good to be able to share ideas……and everyone has got something to bring to the table…..

  35. Evening Chaps,
    Doing one of my disappearing acts again.
    ( Was out yesterday and being the last couple of days of the month busy tidying up. )
    FTSE 6106 –
    Wonder if it will get to 6140 tonight ?
    That’s the level that was on the chart the other day.
    http://i.imgur.com/MCKdev9.png
    This also ties in with GAP in that area 6123 – 6136.
    I don’t think this “GAP” has anything to do with this move higher – just interesting lines in the sand.
    http://td.md.it-finance.com/ProRealTime_V10_2/display_chartimage.phtml?name=ezenfzbr2zcg8j4fz692diycl&type=png&purpose=file
    Next week – RDSB earnings on 4th Feb. Whilst the preliminaries have already been outlined, the reaction always seems to be repeated on official results. Just an observation and something I’m bearing in mind.

    2. Just saw a figure of $33.44 on cnbc…….cnbc said Iran won’t agree to supply cuts…….What was it ,something to do with Shakespeare ……He protesteth too much……ummmmn….this negative interest rate move from Japan may be what’s pushing things up as well…..I have no idea what so ever where this is goin from here……just goin to watch for a bit.see if my Dax long can gain anything.

        1. I read something earlier in the week on what would stop Oil hitting 60 + short to medium term on the prod cuts that will appear just from rigs coming off line etc etc at these prices and basically the opinion was it would take a cut in demand which would only happen with a Recession.
          Read about Argyle’s Centre of Excellence too 🙂 in Paignton ??? 🙂

        2. Hi Anstel WSF Argyle
          I’ll pretend that I know what I’m talking about ! 🙂
          To my mind & just thinking this through ..
          Japan cut interest rates
          Creates $ strength – Just look at $/Yen Chart wwwweeee!
          Any thoughts of the Fed raising in March have been reduced.
          Transient mood change – support for equities.
          But strengthening $ will keep a lid on Oil and Commodities.
          So really – not alot has changed once all the dust settles..
          That’s my take on it but happy to be set straight on anything..

          3. “Cutting the oil Supply”
            That’s the issue with having sovereign oil producers – if they cut production it reduces the country’s revenues.
            I think I’m correct in thinking that they’ve actually increased production to cover the reduced income.

          4. Don’t really think they need the revenue from WTI I think it’s more of a QE replacement as I have mentioned before….hey who knows its just a thought that’s all……Have a great weekend Hugh.

    1. Just wondering whether to short the Dow over weekend,it doesn’t feel right to me though for some reason?

      1. Yes always another trade and so on,I’m leaving it until Sunday night, think that will give enough of an advantage on any move,also I just opened a Guiness,so no more trading for me 🙂 Have a good weekend everyone.I’ll look for Tom Hougaard on You Tube,remember his website had him scalping with large stakes and so on,thanks anstel.

    1. Thanks for posting that WSF…….yes I think we are on the right tracks here.Enjoy your Sunday Matey.

  41. Evening all,FWIW I think 5100 is on the cards for ASX 200 at the moment,no idea about the Chinese releases at 01.00 and 01.45,so wont wait that long,despite logic re Australia and its Economy I’m looking at the bull side above 4995 and certainly above 5058. That last dip looked like Gap closing to me 🙂 and put in a higher low anyway.

Comments are closed.