78 replies to this topic

[12SPX]

starting my new short build at 15910....looks like it'll be rinse and repeat kinda day....

[redfoliage2]

Likely we are going to see the range-bound moves to continue till the Fed day, Dec 13th.  So, dips will get bought and bounces sold .................. ........................................ 

Edited by redfoliage2, 05 December 2023 - 10:55 AM.

[12SPX]

I think that's what I said red lol, rinse and repeat.  Good news is average short 15925 and last post as I'm going for a walk, yesterday's was huge lol!! 

[12SPX]

profit stop 15890 once again

[redfoliage2]

Likely we are going to see the range-bound moves to continue till the Fed day, Dec 13th.  So, dips will get bought and bounces sold .................. ........................................

But let's see if SPX 4600 to be tested before the week ends .......................

Edited by redfoliage2, 05 December 2023 - 12:10 PM.

[12SPX]

Out at 15880 for a 45 point profit, hopefully get 15,900 again sometime today, now I'm outta here lol!!  

[redfoliage2]

BTW, today's job data from Labor Dept bolstered well for the trend that the job market is loosening, and I'd expect Friday's data to confirm this trend  The 10Y bond rate looks agreeing as it dropped nearly 3% today .................

Edited by redfoliage2, 05 December 2023 - 03:02 PM.

[redfoliage2]

Let's see if bears will come back again attacking on the index futures tonight ...................

Edited by redfoliage2, 05 December 2023 - 04:05 PM.

[dTraderB]

China rating alarm still ringing

Falling rates and bond yields may not be enough to brighten sentiment in Asia though, after Moody's lowered the 'outlook' on China's A1 debt rating to "negative".

According to Moody's, the amount of money Beijing likely needs to provide to support debt-laden local governments and state firms poses "broad downside risks to China's fiscal, economic and institutional strength."



Rival ratings agency S&P Global warned that growth could slow to below 3% next year if the country's property crisis deepens further.



Growth that low in China is in many ways difficult to fathom. But if it is indeed on the looming horizon, it helps explain why foreign investors in China are pulling money out, and why those not already in China are reluctant to put their cash in.
Here are key developments that could provide more direction to markets on Wednesday:
Australia GDP (Q3)
Japan tankan surveys (December)
Taiwan inflation (November)

[dTraderB]

Extremely busy & tiring ASIAN SESSION last night & now the US ...
Key developments that should provide more direction to U.S. markets later on Wednesday:
November ADP national employment survey
October international trade