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Yes already

Yes already! What can i say. Economic data from Japan has sparked risk appetite and again we see a weak dollar and SPX knocking on ” ceiling” 1100. As a consequence of the weak dollar, both copper and oil are decently positive. It is worth noting, what is the BDIY index, which has been forgotten recently again showing growth in the last couple of weeks.
Don't forget, that the week is expiratory and volatility surges are possible on any day. As I said earlier, awaiting the permission of this formation to 20 november. Either a negative TOP will still be drawn, or we get a new local high. I find it difficult to predict anything before 20 november. I will trade with “list”.
I also want to note, that usually TOP is not formed in one “day”.

Interesting!!!!

Interesting, and what do you suggest Chinese comrades? Me too for a strong dollar, but my arms are short to influence the situation

Today 09:25am EST / 02:25pm GMT
(CH) China’s top bank regulator: the weak U.S. dollar and Fed pledge to keep interest rates low are a threat to economic recovery – Liu Mingkang, chairman of the China Banking Regulatory Commission…..

China’s chief banking regulator said Sunday that persistently low US interest rates and a declining U.S. dollar are leading to new global economic risks.

The U.S. government’s promise to keep interest rates low for an extended period is encouraging a U.S. dollar carry trade and leading to massive speculation, Liu Mingkang, Chairman of the China Banking Regulatory Commission, said at a financial forum.

Such conditions “are seriously impacting global asset prices and encouraging speculation in stock and property markets,” he said.

The declining US dollar poses risks to the global economic recovery, especially for emerging economies, he said.

News update

The trade balance increased and this was reflected in the weakening of the dollar. Then you already know the reaction of all other markets.. The question remains to what extent this will give the bulls strength after a technical hit.
MIchigan Consumer Confidence Ahead, so volatility is ensured!

Intraday comment

Something bulls are shy today! To be afraid or something, what will get " under the knife" on Friday 13?!:)))
Or maybe in cahoots with bears?

Oil looks, as if aiming at 75 and below, to the area 70-75.

Intrade comment

A more obvious negative will be the situation of absorption by the ES mark 1085, which will swallow the DOJI of the day before yesterday.

SPX projection

Looking at the daily SPX chart, with the new dynamics of the index, you can potentially see the level 1125-1135 to 20 November.
In case of closing above 1120-1122, we can say, that SPX has broken the bearish line, passing from 1500 Level.
Such a breakdown will be noticed and some can proclaim the beginning of a bull market..

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