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aussiebear

World Stock Markets Trading Discussion - Encroaching ennui

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THE TAX CUT PUMP AND DUMP

When you think about it the corporate tax cut operated in a similar manner to a pump and dump scheme.

First the tax cut and repatriation of funds to pump the stocks.

Then the bond market realises that they have to fund the tax cut - leading to treasuries falling taking corporate bonds with them - rates rising.

Stock market suddenly realises that corporate bond rates will rise forcing corporates to cut back on borrowing and stock purchases - the dump part.

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All Ords 5-day chart

big.chart?nosettings=1&symb=AU:XAO&uf=0&

http://bigcharts.mar...com/default.asp

 

And so endeth another week ... All Ords closed +1% with Financials in the lead, +2.3% and REITS at the other end, -0.5%.

Over in Asia, China +0.4%, Hong Kong +0.1%, Japan -0.3%, India currently +1%.

UK/Europe starting out strongly: FTSE +1.3%, DAX and CAC +1.1%.

 

 

big.chart?nosettings=1&symb=UK%3AUKX&uf=

  

  

big.chart?nosettings=1&symb=DX%3ADAX&uf=

 

 

big.chart?nosettings=1&symb=FR%3APX1&uf=

  http://bigcharts.mar...com/default.asp

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Last trading day of the year for DAX and most other European indices.

Dow and SPX broke downtrend from Dec 1st high, NDX not yet. All three trade above their EMA200 hourly right now.

(I only use those 24hour CFD‘s, never use cash indeces for analysis. Traders follow ES, not SPX. To use hourly EMA on a cash index which trades only for 6 hours or so each day is due to the huge gaps basically senseless)

 

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TNX on the cusp of doing a  monthly moving average crossover to the downside. 

10 year JGB was negative today I hear. 

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1 hour ago, sandy beach said:

RUT tested the 200-day weekly from below and failed.

test.png

On that weekly chart the big two day pop does not look that impressive...no candlestick reversal that I know of.  I see a   A-B-C corrective wave structure in this rally on 5 min.  My system is a hair from pulling my shorts!  

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2565 would just be a perfect level for this monster to fizzle out and roll over again: Roughly 50 fibo of Dec high to low and a kiss from below of multiple former lows. 

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2 minutes ago, fxfox said:

2565 would just be a perfect level for this monster to fizzle out and roll over again: Roughly 50 fibo of Dec high to low and a kiss from below of multiple former lows. 

We were well on the way then Trump started tweeting he was going to totally close the Mexican border. Such a thing would be a wrecking ball to supply chains.  

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10 minutes ago, Jorma said:

We were well on the way then Trump started tweeting he was going to totally close the Mexican border. Such a thing would be a wrecking ball to supply chains.  

I start to believe that this guy is not real. It is a game, something like the Truman Show. Many things he does are so freaky, unreal and simply beyond comprehension. I think we are not far away from the point were people simply doesn‘t follow his orders anymore.

i‘m 100% sure that the US will find a way to get rid of him.

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