25 Dec 12252018 Closed for Christmas
12252018 Closed for Christmas
Terminology (partially made up by yours truly)
- PA = Price Action
- BO = Break Out
- BD = Break Down
- CAR = Confirm As Resistance
- CAS = Confirm As Support
- UKC = Upper Keltner Channel
- LKC = Lower Keltner Channel
- TV = Tick Volume
- WPP = Weekly Pivot Point
- DPP = Daily Pivot Point
- DR = Daily Resistance (pivot)
- DS = Daily Support (pivot)
- WR = Weekly Resistance (pivot)
- WS = Weekly Support (pivot)
- HL = Higher Low
- HH = Higher High
- LH = Lower High
- LL = Lower Low
- SD = Standard Deviation
- VWAP = Volume Weighted Average Price
- AS = Asian Session
- LS = London Session (EU)
- NY = New York Session (US)
|5 positive 1 negative||Fri||Sat||Sun||Mon||Tue|
|Beers night before||6||10||2||10||0|
|Coffees today||1 espresso real quick||2 espresso real quick||1 espresso spread over 1.5 hours||0||1 espresso spread over 2 hours|
|Water 2.2L bottles||1||1||2||1||2|
|Time bed yesterday||03:00||03:00||02:00||02:30||10:30|
Health review (for the past week)
- How would you describe your overall health?
- I am feeling full all the time since I have been eating a lot. I am giving myself a break from being to critical on this point since I know that I will get back on track next week. Although that doesn’t mean I should not pay attention to it at all.
- How do you feel?
- I feel better. Still not too sharp since I had to catch up on sleep a bit but then I feel groggy because I slept longer than I should. I think it’ll be better tomorrow though.
- How would you rate it (1–5)?
The Big Picture (daily)
- What happened yesterday?
- Yesterday before the London session started we had a swing reversal during the AS that bounced off the 46.25 level and we then ducked underneath the 30M VWAP mean and 50MA. Which then set the tone for the rest of the session ie. downtrend.
- We ended the day just above the DS2 47.174 level at 44.363
- Geopolitics and the headlines of today?
- Mnuchin’s Bizarre Statement Rattles Markets
- Over the weekend, U.S. Treasury Secretary Steven Mnuchin issued a statement saying that he “conducted a series of calls today with the CEOS of the nations six largest banks,” which included Bank of America, Citi, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo, and the bank executives “confirmed that they have ample liquidity available” for consumer and business lending operations. To which, the collective response from the whole world seemed to be: “Wait, who said anything about not having ample liquidity?”
- Mnuchin also said that the major banks “have not experienced any clearance or margin issues and that the markets continue to function properly.” Again, since few expected otherwise, the “clarification” from Mnuchin only seemed to sow more fear and confusion.
- Argus Remains Bullish On Oil As Prices Plunge Below $45
- Although the oil market will remain oversupplied in the first quarter of 2019, the OPEC+ producer cuts will start to work in the second quarter and gradually rebalance the market to the point of Brent Crude hitting $80 a barrel in Q4 2019, according to energy information provider Argus Media.
- The Battle For Syria’s Oil Region
- The Syrian Civil War has gone through several phases over the course of seven years and it now appears to be entering another one. Government forces have regained control over much of Syria with Russian air support and Iranian ground forces. Only Idlib and the territories east of the Euphrates river remain out of the hands of President Assad’s regime. With the U.S. planning an imminent withdrawal from Syria, things could soon shift again.
- Trump calls Fed ‘only problem’ in U.S. economy; markets slump
- WASHINGTON (Reuters) — President Donald Trump blasted the Federal Reserve on Monday, describing it as the “only problem” for the U.S. economy, as top officials convened to discuss the growing rout in stock markets caused in part by the president’s attacks on the central bank.
- Gold Up 1% , Boosted by US Govt Shutdown, Mnuchin Move on Banks
- Investing.com — The partial U.S. government shutdown and growing worries of a global recession seem to be taking gold slowly but more surely toward the $1,300 per ounce level targeted by precious metals bulls.
- ExxonMobil Faces Off With Venezuela’s Navy
- Exxon has suspended exploration activities in the western part of the Stabroek block offshore Guyana after the Venezuelan Navy intercepted this weekend two exploratory vessels in what Caracas claimed was Venezuelan waters, Reuters reports, citing Guyana’s Foreign Ministry.
- Trump, Democrats spar over shutdown with no deal in sight
- WASHINGTON (Reuters) — President Donald Trump and top Democrats in Congress sparred over the partial shutdown of the U.S. government on Monday, with no sign of tangible efforts to reopen agencies closed by a political impasse over Trump’s demand for border wall funds.
- Mnuchin’s Bizarre Statement Rattles Markets
- Additional OPEC news
- OPEC Prepared To Call ‘Extraordinary Meeting’ As Oil Falls
Any questions or feedback you might have please feel free to leave a comment or contact me directly.