Those numbers out of China look great; and of course we can trust them as being 100% accurate and reliable.
Germany? Ahhh. Who cares. DAX up 1.5%. Let the good times roll! Germany's manufacturing recession worsens: PMI 3 Min Read BERLIN (Reuters) - A weakening global economy, risks linked to Britain’s possible departure from the European Union without a deal and trade disputes pushed activity in Germany’s manufacturing sector to contract at its fastest rate since July 2012, a survey showed on Monday. FILE PHOTO: A worker at German manufacturer of silos and liquid tankers, Feldbinder Special Vehicles, moves rolls of aluminium at the company's plant in Winsen, Germany, July 10, 2018. Picture taken July 10, 2018. REUTERS/Fabian Bimmer Markit’s Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about a fifth of the economy, fell to an 80-month low reading of 44.1, down from 47.6 in February and lower than the flash reading of 44.7. It was the third successive month that the index was below the 50.0 mark that separates growth from contraction. “Both total new orders and export sales are now falling at rates not seen since the global financial crisis, with more and more firms reporting lower demand linked to Brexit, trade uncertainty, troubles in the automotive industry and generally softer global demand,” said IHS Markit’s Phil Smith. New orders posted their steepest drop since April 2009. Weakening exports have translated into a slowdown in Europe’s biggest economy, which posted its lowest growth rate in five years last year. The economy has been relying on consumption for growth. A robust labour market, rising wages and low interest rates have been supporting the consumption-driven cycle. “Manufacturing output fell markedly and at the fastest rate since 2012, with the consumer goods sector joining intermediate and capital goods producers in contraction,” said Smith. He added: “The sustained solid growth in employment prior to March had been the sector’s one remaining bright spot, but the latest survey indicated a fall in jobs for the first time in three years amid reports from a number of firms that some temporary contracts weren’t being renewed.”
If we get a pullback today, we can come down to 2840.00, And I would still position myself long, have been long, continue long.
Lets break 2860, then I anticipate we can break 2934, and still anticipate higher prices along the way...3200. I am always ready to midcourse correct, things change.
Remember fellas (and ladies) ... it is not the news that matters. It is the market's reaction to the news. The Money who moves the market couldn't care a rat's arse about your opinion of the news Looks like a good number, I'm targeting 2929 myself. It's got some work to do ... let's hope The Money sees it out way
Long 57.75, stop 56 EDIT: If this survives the opening gyrations, then I'll be scaling out a bit at 60 and 67-68, but otherwise holding for a professional gap and go that closes at whatever the HOD is going to be, MOC on the trails. If it does not survive between now and the open, then back to business as usual awaiting the Sign of the Bear
The news doesn't matter, but the anticipation of news does methinks in this case. I think it breaks today, but it is waiting on the "all important" blah blah blah numbers due out at 10 AM EDT.