Just some random notes I've been jotting down and adding to for trades/ideas next week.
Hopefully of some benefit and/or others have something to add..?
- US have a public holiday Monday, (so maybe there isn't anyone to hold up their index)
- China & Korea have GDP Monday as well as China’s industrial production, they should all come in low. (bearish/shorting op)
- China recently said they have downgraded their growth estimates to 6.5-6%.
These should give us great shorting opportunities after a likely opening spike of ASX.
Next week US reported earnings (mainly financials)
- 4 DOW components.
JPM reporting earnings premarket Tuesday (most closely watched for an economy perspective)
Citi Group - Monday
Wells Fargo - Tuesday pre market
United Airlines - Tuesday Pre Market
Bank of America - Wednesday Pre market
Goldman Sachs - Wednesday
Netflix - Thursday after market close
Morgan Stanley - Thursday
American Express - Thursday.
Some other quick notes I was writing at the end of this week,
Any new/economic data that has been released since the bounce hasn't been sold into heavily... WHY?
If it was the previous 2 months it would of been smashed...
Bearish Catalyst suddenly have no impact on the market... WHY..?
- Major tech companies putting out statements of massive profit guidance downgrades.
- A nothing statement/meeting when China and the US met earlier this week (that the market was supposedly riding on.)
- The Fed is still committed to running off it's balance sheet. (QT)
- Longest government shutdown in history.
- Massive retail revenue down grades..
- Airline companies announcing profit downgrades.
- France and Germany (4th biggest market in the world) looking highly likely to be recession candidates. (economic data strongly supports this!
Apple now lowering price of its products in China, are they continuing to struggle/pushing to meet lower revenue guidance figures??
It appears anything that relates/has trading/business with China will be impacted the most so look for shorts in this space.
Traders at their lowest levels of net long positions on the S&P 500 (FXstreet), who is buying the bounce...?
Currently, I can't find any real fundamental or technical reason for the markets to be continuing their bounce..
There are soo many bearish reasons for it to go lower, struggling to find 'bullish' reasons to go higher..
(Earnings seasons will give a bit clearer picture and for forward guidance.)
Best I can come up with is Plunge Protection Team/funny money propping up the stock market??
Orrr manipulating/suppressing the VIX to hold off volatility... but for how long...?
I also notice that markets will get somewhat sold off throughout the day/night until about 30-45mins into the US session.
Markets usually reversal from intel first big spike or following 15 min spike..
Majority of markets are heavily overbought, easy trades shorting trades are when all markets appear in overbought 1day, 4hr, 1hr, 5min.
(20min delay)
