#GOLD #DOW Today, we were late issuing our lunchtime futures! No excuse was given, primarily due to it being utterly ridiculous. The problem started while examining the DAX, attempting to decide whether the growth projection generated had any visual justification. When a large wasp settled on the right hand monitor, it triggered a classic “flight” instinct which saw the glass office door firmly closed with what dignity remained.
Mrs T&T, the official wasp exterminator, was out walking the dogs and left no option other than to slightly open the door, fill the office with a killer fragrance any wasp will die for, and go make coffee while awaiting the monsters death within 15 minutes. At least, that’s what it said on the label.
Approaching the office door, I was greeted with an horrid sight. One of our unwanted cats (long story), both of which are banned from the office, was curled up on a chair, absently watching the wasp patrolling the sky above it. Spraying insecticide into a closed room with an animal was a big “no no”, resulting in the absurd situation of waiting until the dogs returned before regaining control of the office. Futures, along with a (successful) projection against Germany, were produced an hour late. But on the bright side, the wasp was successfully squished with a disappointing lack of drama.
A look at Germany from a Big Picture perspective appears justified as something is happening apparently. It appears weakness now below 11,930 point should generate traffic downward to an initial 11,786 points. While not a particularly impressive ambition, there’s some quite dangerous potentials if 11,786 breaks.
Such a scenario allows travel down to 11,321 points. While the visuals indicate some sort of bounce is probable at such a level, we suspect it will prove short lived as realistically the index will be trading in a region where a longer term bottom is at 10,192 points. This will break the uptrend since 2011, leaving the market open to some quite extreme behaviour if market conditions get really negative.
The Blue downtrend appears to be presenting a sacred line the market is afraid to cross. At present, the DAX needs above 12,475 to exceed this trend, launching into a region where 13,650 calculates as possible.
For now, we lack optimism.
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
10:11:02PM |
BRENT |
57.97 |
‘cess | ||||||||
|
10:14:30PM |
GOLD |
1506.17 |
1488 |
1482.71 |
1470.42 |
1498 |
1510 |
1516.75 |
1521 |
1494 | |
|
10:18:20PM |
FTSE |
7145.65 |
‘cess | ||||||||
|
10:23:42PM |
FRANCE |
5457.7 | |||||||||
|
10:25:42PM |
GERMANY |
11974 |
‘cess | ||||||||
|
10:36:39PM |
US500 |
2894 |
‘cess | ||||||||
|
10:42:07PM |
DOW |
26186 |
26152 |
26120.5 |
25941 |
26335 |
26383 |
26435.5 |
26536 |
26232 |
Success |
|
10:48:35PM |
NASDAQ |
7613 |
Success | ||||||||
|
10:50:45PM |
JAPAN |
21330 |
‘cess |