Jiming Huang / Blog
Pivot (invalidation): 113.55 Our preference Long positions above 113.55 with targets at 113.95 & 114.25 in extension. Alternative scenario Below 113.55 look for further downside with 113.30 & 113.00 as targets...
Pivot (invalidation): 1.3090 Our preference Long positions above 1.3090 with targets at 1.3135 & 1.3155 in extension. Alternative scenario Below 1.3090 look for further downside with 1.3060 & 1.3030 as targets...
Pivot (invalidation): 1.1500 Our preference Long positions above 1.1500 with targets at 1.1540 & 1.1555 in extension. Alternative scenario Below 1.1500 look for further downside with 1.1480 & 1.1460 as targets...
Markets expect the USA unemployment rate to have eased to 3.8% in September. Non-Farm payrolls should have eased to 185,000 from 204,000 in the previous month. Average hourly earnings are expected to have edged down to 2.8% from 2.9% in August. All indicators have been on green in the job market...
Analysts are attributing the increase to a strong US economy, hawkish Fed comments, technical factors or even possible demand for return premia. Yet, significant corporate issuance, higher dollar funding basis and even mortgage convexity hedging issues could all have pushed the curve...
Pivot (invalidation): 75.40 Our preference Short positions below 75.40 with targets at 73.90 & 73.35 in extension. Alternative scenario Above 75.40 look for further upside with 75.95 & 76.45 as targets...
Pivot (invalidation): 14.7000 Our preference Short positions below 14.7000 with targets at 14.4200 & 14.3400 in extension. Alternative scenario Above 14.7000 look for further upside with 14.8000 & 14.9100 as targets...
Pivot (invalidation): 1205.50 Our preference Short positions below 1205.50 with targets at 1195.50 & 1189.50 in extension. Alternative scenario Above 1205.50 look for further upside with 1208.50 & 1211.00 as targets...
Pivot (invalidation): 2912.00 Our preference Short positions below 2912.00 with targets at 2893.00 & 2883.50 in extension. Alternative scenario Above 2912.00 look for further upside with 2917.75 & 2931.00 as targets...