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Euroland helps Dow ooh above 18000 for my initial short entry.
I do not expect fireworks until FMOC and it could get a bit
tough to trade with large swings etc.Never give up, never surrender.
Dow 18040 on offer which is a tad below my favoured 18050 but
none the less gives good odds for a profit before FMOC.Never give up, never surrender.
Dow 18040 on offer which is a tad below my favoured 18050 but
none the less gives good odds for a profit before FMOC.Yep, profits on tap.
Never give up, never surrender.
Holding profits and staying flat now until FMOC and maybe
even until BOJ (the desperate Dan’s of central banking).Never give up, never surrender.
ASX 200 @ Fri 22 Apr 16
Reconciling US stock price action with earnings is challenging at present.Total earnings for all S&P 500 components topped at US$105.96 in the September 2014 quarter and have fallen every quarter since at an accelerating rate. The December 2015 quarter’s US$86.53 earnings were down 18.3% from the peak and 4.6% from the previous quarter.
Yet this week’s S&P 500 high was just 1% below its all-time-high, an unsustainable level if earnings continue to fall.
So what are the implications for the ASX 200 if the overbought 3 month rally in the US markets rolls over and follows deteriorating earnings down?
The ASX 200 has fallen 12.7% since its March 2015 top, more closely tracking its own total earnings decline. Although last week’s update showed a count projecting a rally top around 5800 there is an equally valid bearish count shown on the attached DAILY chart that projects a bottom around 3160.
It’s just too difficult to call at this point. An earnings turnaround would favour the upside move; further earnings deterioration would favour the downside.
I will let the Fed and BoJ reaction work through world markets
and see where the US closes tonight before trading again.Never give up, never surrender.
US markets spiked near the close and I took a
short Dow 17800It is possible we have started the drop I expected
but what pattern we get remains a mystery.Never give up, never surrender.
finally a bit of downside,nice to see my wayward 2060 short dip into profit,if only for a while lol.still holding that and looking to re enter another add on short tuesday rth sometime,which i think will be best last chance to get short from these overblown levels,hoping for 2081 spx but still short regardless if it falls away over the weekend.
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