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Feb 12, 2018 Why would a Bull buy before the China Data Monday Night?

February 12th, 2018

At the Europe Open we see Futures up .60% after it rallied off the 200 MA SPX on Friday. Japan is closed for holiday tonight and Abe used the holiday to announce that he will be asking Kuroda to stay for a Second Term. China will be closed on Wednesday, Thursday and Friday…MANY Chinese already started their Vacation so Volume was only about 70% 0f the average at about 15.33 billion shares. Friday was 25.64 billion. FWIW,  Shanghai stock index is below its 50-day moving average and below its 200-day moving average. Monday night we get China’s Money Supply, Loans and Foreign Investments out of China..if China Government is true to their word it should miss estimates. Shanghai Futures were down heading into holiday. US Session T/A’s have a lot of Stops and Bids around the SPX 200 MA so we will have to let it shake out. Not much Econ Data today. Ray Dialo’s short position and GS coming out saying “sell the rallies and don’t buy the dips.” Test of the 200 MA should happen in the Afternoon Session after all the Retail Investors buy the Earning Stories at the Open.

Feb 2018, Uncategorized