2017-01-11 World Indices Transcript & Video

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Welcome to the World Indices SPEED Webinar for Wednesday, 11 January 2017

I am on Skype tonight at 8 o’clock channel 602 and repetitions around Australia

I’ll also be in Newcastle on Saturday doing some talking.

If you want to find out about that go to ATAA.com.au and look under the Newcastle  meeting agenda think it’s that the Kahibah Bowling Club, if you are holidaying in the area

Dow Jones Transportation Average

Drank Dow transports are still giving us nothing taking us nowhere stop loss is at 8986, if you are long it’s put itself long but it swing is down so that’s confusing u needs to lift above 9200 2 D confuse us and it will decompress below 8986

Dow Jones Industrial Average

The Dow had an outside day reversal on higher volume yesterday.

Now I outside they reversals do not mean anything within a range however most of the averages are tipping  slightly to the downside so you would think about 19,691 as the target area if anybody woke up.

Now the next wake-up call we are told is the reporting season in the US, this is where they see that a company is trading at $100  and earning $0.20.

Which would mean it would take 500 years to pay back that $100 now that’s just something I’ve plucked out of the air as the examples you want to see a these companies justifying the high prices that they are now out in terms of earnings.

If they are friends of Donald Trump’s or even relatives of Donald Trump’s they probably justify that level because under the Donald Trump land people who do the right thing by Donald will do well  and people who don’t will be cut off.

I saw something on the television in the middle of the night while I was killing flies and it was a marvelous thing  it had Hillary Clinton saying  “now loses $1,000,000,000 in just a year what sort of an idiot is that?”  And was very aggressive and then it showed how much her  electoral campaign for the presidency cost and it was $1.2 billion down the toilet, that is pretty ironic

Anyway a week or so ago I said every top takes time every good top takes time the Dow does like to top in this fashion I did say we needed a little spike up which we got on 6 January before it might come down it got the new high and it’s not dead yet start to suspected below 19,800 is going to roll down to 10,691

No were not taking talking huge ranges here in the best I would think at the moment would be 19,191 if sit 19,600 gives way

S&P 500 Cash Index

Another outside reversal day an attempt at the old hi failed balls are getting a little bit tired. So a wash back down to 2246 or 2238 would be acceptable.

We had been dreaming of 2285 got as high as 2282 that may be as much as it could do this point I still think it will find some support around 20 to 60.

NASDAQ

The NASDAQ has been the clear outperform for whatever reason  and at the moment a wash back below 4990 would be the problem for the market at the moment I don’t know if that’s going to happen don’t quote me that would be more negative below 4952

Volatility Index VIX

This is not showing a real fear of the earnings reports as of yet I thought it might have spiked up a little bit more things get more exciting above 12.5 but there in a value area where you might want to buy some volatility rather than sell it.

E-mini S&P Floor Session Internals

I must say that the sellers seem to have more conviction and we see a 3 wave structure is the upside no 5 wave structure so I must admit to being confused in this pattern things get better for it above 2268 expect 22 7 if it breaks up.

BHP.US

This is a very strong garb up on heavy volume so we must be heading towards $40.34 I had hoped it would get down a little bit lower to 3468 that was not to be the case so if you did get long on a break up or you wanting to get long you might try and buy a wash back down to about $37.80 with a stoploss below $37.20 hoping $40.34 seems as if the game is on for some reason in the stock stop

RIO.US

Rio has probably the better looking 4th Wave pattern to this on a chart that I saw on the television this morning by the sage Craig James when he was speaking with seen the breakout on good strength and on good volume so if you are contemplating buying you could run a stoploss below $39.14 and dream of $44.32

GDX J Vanek vectors Jr Goldminers ETF

We are long and I don’t see any reason to change our orders just yet

German Dax

Buy  break above 11,635 iif you believe in 11,788 and close proximity to 12,000.

At the moment it’s a little bit overbought so your stoploss would need to be below 11,513.

And if you wanted to go short you would sell it on a break below 11,513 with a stoploss above 11,635.

If that sell order is triggered expect 11,262 to 11,165

DJ Euro Stocs 50

A little bit shyer than it’s older brother for Big Brother or big sister 3346 would be a nice target if it broke above 33 19th annual buy it stop loss below 3292 or you would sell it if it broke below 3292 with a stop loss above 3330.

The downside target 3200

 

My preference is for a little bit of the downside dump at the moment because Christmas was good Donald Trump was great and the positions are fairly large and 3200 would be the nice area and normal area for buying this if it was good in the longer run.

 

UK FTSE

the FTSE just keeps on paying and in look at that trend we now find it’s getting a free trade agreement with the US funnily enough I believe that Donald Trump doesn’t like free trade agreements somehow with England things are different

So then we might be getting exports from Mexico finding the way into the UK and being re badged as made in England, where there’s a will there’s a way

 

After all I believe Ford owns jaguar or does it or is it Indian I don’t know but they seem to have jaguar seems to have forward engines in at night sort of stuff so there’s always cross pollination of parts and Mexico might just pump through England.

That would be good free trade agreement.

In the end the UK is rock ‘n’ roll and if you are long 7180 is the stop loss

Italian MIB

19,854 is the was the target it’s coming from there so if it breaks 19,900 go with it go long see where it can end up if it and if you buy that then have a stop loss below 19,000 to 50 it breaks 19,000 to 50 expect a pullback down to 18,370

so this point it’s kind of doing that similar topping pattern to the other things Mondays trading was quite disturbing for the balls but resettled yesterday.

Shanghai a Shares Index

It’s hit into the fat controller and it stalled at the moment is a bit of it expanding triangle which would indicate because the manipulation that goes on in the Chinese market that is probably going higher.

Now I’m not sure when they lift there short selling bandoleer ban on selling stocks that would be interesting to watch because it will probably go up when that man is lifted.

A close below 3300 would be a little bit  disappointing for this and see a pullback down to 30 to 79.

Hong Kong Hang Seng

still cooking with gas blowing through some levels 22,000 926 target stop loss 22,420 or 22300

Japanese Nikkei

We had a try at selling less it popped up and we are still short, but only just leave the stop where it is.

BP.US

We were looking to sell a breakdown below $37.80 which unfortunately did not happen until it it broke down and we got filled at $37.58 market on open target would be $36.47

Dow Jones Industrial Average

We are still looking for that breakdown trade

 

Australian Share Price Index Futures SPI

The strong pull back down into support didn’t put itself short a break below 5700 would put it short at the moment we have a bit of an even stacking signal popping up a bit of an overbought situation and I would expect a pullback maybe it’s a chance to sell into one more push up today

but commodity prices will dominate the index today.

Australian Share Price Index Futures Internals

 

Largely a 3 wave structure in this move so were going into confusion it appears 5 wave is on the upside on the last move up but there just rubbish I think we’ll just find it floating around maybe it’s 5770 or something like that for a proper shorting event

It was nice to see it heading onto support there I did think that each people should hold there positions there or at least lower there stop losses so the moment we’ll wait is was still waiting for confirmation of a decent size short.

If you are short just manage it with your stops if you feel like can take some profit on a dip you might buy some part some on the dip and then resell at if you’re looking to get short again

 

 

Int. Indices PHGTrades

11/01/2017 9:30 See Transcript for more details on PHGtrades ©2016 David Hunt