Hi folks,
My take on today’s run for XPE combined with Macro economics….only MHO here…
All this at between 14:30pm – 15:35pm to decision…..
I did buy in before the market close… my moto was only indicators… market indicators….
Gold was still strong, so I flicked to another indicator: the US dollar which was higher… so both here staying strong means markets are no good folks… it’s in defensive mode….
Next, looking at the EURO.. it was high… so. It is showing signs of optimism…. Tick up here… I like it….
Next, our local 4 banks… from totally smashed town(some at over 2% down) to a reasonable comeback…. Mind you, ANZ has almost $1 billion in bad debts….
Next, local markets…. Our XAO from -1% coming back to 0.5% in about 20-25 minutes…. From about ….say 15:20ish……
Asia Pacific markets main JPN, HK, CHN……. Nikkei got smashed… but it did erased some good loses at the same time our 4 banks did it too…. Hang Seng did also rise at the same time as our 4 banks… and surprisingly, Shanghai did the best finishing in green at 3.017 up a tiny 0.36%...which was rising at the time I was studying it….
Next, European markets, FTSE, DAX, CAC are my barometers…. Which were all -0.xx at the time…. At the moment at around 19:40pm, it’s dropping big time… a disappointing start…..
And lastly, North American markets…. S&P500, Dow and NQD…. All at similar levels as Europe… around -0.xx levels….. now… increasing bearishness as Europe dives to where is the printing money Draghi…..
So, here is my open decision to take a position on XPE at 7.6c…….
My TA’s said, maybe… my FA’s said sure….. and my biggest battle…the world economics said maybe a window of opportunity?
I’m losing the battle at the moment as I see it…..But, the battle is not lost just yet….. we could still hear from ECB which my bring some sense to all this banking desperation… and that’s what it is in a nutshell……
The USA, has plenty of fire power…… Janet Yellen is only watching it with her team… and probably laughing at all of us… telling her team that they will be the ones coming to the rescue with a big package of QE cheap money…… we’ve got the FOMC meeting this afternoon in the US… so some hints and possible moto for alleviative measures to help the markets might come afloat….
And we have XPED board… that could still bring some possible update or news to the market…. Which could somehow calm the sell off we’ve been seeing lately…..
Gold is rising even stronger right now around 20:25pm Sydney time….. at 1374… just amazing….
Something might give…. and a Central Banker might just announce some measures to rescue the markets… or is it too early for them?... whoever is taking advantage of the game and shorting it hard…..
Daily chart: I've tried to choose some indicators that will not compromise with the bullish and rosy glasses holders and also with the bearish and realistic economics...... came up with pretty much similar thoughts as Macs.... obviously, it's only TA talk... Macro Economics comes at a different price....
Interesting night ahead….
Cheers
T10
(20min delay)