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World Stock Markets Trading Discussion - Wavering waltz

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All Ords 5-day chart




All Ords finished flat with sectors ranging from Telecomms +2.3%, IT +1% down to Healthcare -1.5%.

Over in Asia, China -2.9%, Hong Kong flat, Japan -0.8%, India closed.

UK/Europe rising in unison: FTSE +0.2%, DAX +0.3%, CAC +0.2%.











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Taiwan Semiconductor Manufacturing beats by NT$0.02, beats on revenue: Taiwan Semicondutcor (NYSE:TSM) topped estimates in its Q3 report overnight, but the Q4 revenue outlook for $9.35B-$9.45B was shy of hopes for $9.55B (Prev was 9.21 bill). Q4 gross margin is seen at 47-49% vs. estimates of 49.2%. Expects high revenue from high end cell phones but drop off in low end phone; Trade war is not an issue.


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Stick save. The 5 day uptrend remains intact. Need an hourly close below 2788 to break it.  A breakout above 2804 in the next 15 minutes would be bad news for the bears. 

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The pattern of opening weak until 10:30, then rallying, is classic bullish action. They could break that by failing to clear minor resistance at 2805 and then taking out the 10:30 AM low. But a move above 2817 would set off a bull stampede.  

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