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World Stock Markets Trading Discussion - Manicured motion


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All Ords 5-day chart

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

 

All Ords came off the highs to finish +0.4%.  Sectors ranged from Utilities +2.4%, REITS +2.2% down to Miners -1.1%.

Over in Asia, China -1.2%, Hong Kong +0.3%, Japan flat, India currently -1.2%.

UK/Europe on a run: FTSE +0.6%, DAX +0.4%, CAC +0.6%.

 

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

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PBOC did a big open market operation overnight which goosed ES futures around 15 points. ECB meets today.  The  'experts' have settled on their story.  Ease but no big surprise. Just  a little surprise in easier terms for the new   TLTRO III

Still, be ready for a surprise. It's central banks on the march now.

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5 day cycle oscillator turns down from the highest level since March 12. Then, market had a slight pullback and rally resumed for another week before another somewhat larger pullback.  Normally a massive thrust like the past 2 days will generate residual upside momentum for a few weeks.  5  day cycle projection remains 2838,  but 3 day 2831 is done. Bet on a 5 day cycle high here.  

Intraday trend support lines, now 2823 rising to  2833 at 1 PM, and 2818 rising to 2827 at 1 PM. 

Get longer term projections, support and resistance, along with suggested SPY put and call trades at Lee Adler's Liquidity Trader- Technical Trader. 

 

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For the record.

An academic paper written for the conference concluded that the Fed should initiate much larger asset purchases earlier to have a faster impact on unemployment.

https://www.marketwatch.com/discover?url=https%3A%2F%2Fwww.marketwatch.com%2Famp%2Fstory%2Fguid%2F3587196c-878c-11e9-b5bc-b448d8ae8ed6&link=sfmw_tw#https://www.marketwatch.com/amp/story/guid/3587196c-878c-11e9-b5bc-b448d8ae8ed6?mod=dist_amp_social

One oddity is they are now selling the myth that QE is unpopular with GOP politicians.  ROTFL.  Oh sure, there is a  pro forma sort of hard money thing some will blabber to the rubes.

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