These are some of the headlines presenting themselves at the moment on my news page
I was particularly taken aback by the extreme bearishness of the Rutland Herald who detail a compelling argument for EU disaster using various topics in their article such as; Ukraine/Russia crisis restricting the natural gas supply to EU over the winter, falling retail sales, negative outlook among EU members regarding the future of the European project and Germany’s perceived lack of desire for QE instead preferring to take the damaging austerity path. A stunningly negative outlook from those guys, perhaps not lacking some merit in their case, but I don’t see these full effects until mid November at the earliest.
There are also two sides to all arguments right? The bullish argument has been ranted over for the last week, vindicated by an epic response to Friday’s BoJ decision, and yet again the USDJPY gap’d open tonight suggesting further upside, perhaps the DAX follows this.
I believe we are going to see some DAX downside early this week while the markets digest the information over the last week, I suspect there will be some profit taking too, otherwise we continue to see the market pulling north towards the mid 9xxx levels. The lower oil prices may not last forever, but they are currently keeping costs down and boosting profits. Money is flowing around with lots of QE happening and it’s likely that ECB will eventually crumble and purchase bonds themselves.
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| KEY LEVELS | |
| Daily R2 | 9467 |
| 200 Day MA | 9364 |
| Value High | 9331 |
| Naked VPOC | 9298 |
| 24hr VWAP | 9289 |
| Value Low | 9272 |
| Daily Pivot | 9271 |
| Daily S2 | 9075 |
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My Dax Prediction and trade set up from 1/11/14
