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Up then down: FED asked to even "Chinese rate advantage"


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#1 dTraderB

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Posted 14 May 2019 - 07:54 AM

BUSY, got up early to trade the European session (not their indices but NQ & Euro), and it has been non-stop action.

 

it is getting silly, really crazy out there, example:

 

Even one of the main Chinese official unofficial voice on Twitter got into it:

 

Hu Xijin 胡锡进 @HuXijin_GT
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China’s decision to raise tariffs and US stocks' fall have inspired Chinese society. Being tough on the US, achieving peace through fighting are consensus of majority Chinese. The US is planning new tariffs. China-US confrontation has reached a peak since the trade war started.

 

....and this:

 

Donald J. TrumpVerified account @realDonaldTrump
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China will be pumping money into their system and probably reducing interest rates, as always, in order to make up for the business they are, and will be, losing. If the Federal Reserve ever did a “match,” it would be game over, we win! In any event, China wants a deal!

Hu Xijin 胡锡进 @HuXijin_GT
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Bloomberg can comment on my tweet freely. But no Bloomberg reporter interviewed me before it published this article. I think Bloomberg, as an influential media company, shouldn’t tolerate falsifying interview.

 

 



#2 dTraderB

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Posted 14 May 2019 - 07:57 AM

Impossible to try to chart a path for the market in this environment but with extreme sentiment yesterday (90 % stocks down etc) a possible path is UP then DONW 

and finally another attempt to rally. Of course, a lower daily close is extremely bearish while a daily close (SPX) above the 50 ma is very bullish.

 

Even finishing up on the day today is bullish.



#3 dTraderB

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Posted 14 May 2019 - 07:59 AM

They also have problems across the pond:

 

Euro Slides, Italian Yields Climb As Salvini Says Italy Willing To Break EU Budget Rules

2019.05.14eurusd.png

 

and this:

 

zerohedge @zerohedge
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Import Prices 0.2%, Exp. 0.7%, Last 0.6% Export prices -0.6%, Exp. 0.2%, Last 0.2%



#4 dTraderB

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Posted 14 May 2019 - 08:01 AM

Helene Meisler @hmeisler
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Helene Meisler Retweeted Luke Kawa

I believe that's called heading toward an ovesold condition. Which is exactly what I wrote about in this morning's column. https://realmoney.thestreet.com/investing/stocks/now-we-know-why-14958323 

Helene Meisler added,

D6hf6jJWAAE4ZmB.jpg
Luke Kawa @LJKawa
Yesterday caused some pretty massive internal technical damage in just one session: Share of S&P 500 and Nasdaq 100 constituents trading above…
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4:15 AM - 14 May 2019


#5 redfoliage2

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Posted 14 May 2019 - 12:34 PM

The market going up today on the delusional hype that Trump and Xi may reach a deal in June at the G20 Summit meeting. I see there wont be a deal this year.

#6 typicalbear

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Posted 14 May 2019 - 01:55 PM

The market going up today on the delusional hype that Trump and Xi may reach a deal in June at the G20 Summit meeting. I see there wont be a deal this year.

 

Trump made that story up.  Xi will be there but he doesn't talk or negotiate trade.  Just another lie to goose the market.