China PMI

    Posted by matt on 29th of Feb 2020 at 11:25 am

    China PMI numbers came out on Friday WOW, came in a record low even far below 2008 lows.  shows you that China is basically shut down

    do you think that will

    Posted by money786 on 29th of Feb 2020 at 12:04 pm

    do you think that will cause the market to go down? or is it already priced in since everyone knew that China was shutdown.

    it came out well after

    Posted by matt on 29th of Feb 2020 at 12:19 pm

    it came out well after Friday's close.  It was expected to be low but yeah that's really really low.  I also was wondering if it would have any effect on the our markets.  We'll know come Sunday at 6 pm, but like you said also it's widely known that China is basically shut down too, so I'm not sure if our market will react to it or not.

    I do think Friday has a good  chance to be a short term bottom capitulation and price could start some wave B retracement.  I think even if our market sold off again it would be short lived and then put in a tradeable low so worst I see is a sell off Monday then maybe bottom Tuesday then we finally start some 38 - 50% wave B retracement

    I don't think it matters

    Posted by loujjj on 29th of Feb 2020 at 12:13 pm

    I don't think it matters ,,,technical s are what they are ,,,,sometimes the market totaly ignores bad news and up it goes other times we get good news 

    and it falls ,,,,,play the patterns or wave counts ,,,trade those candle patterns our fearless leaders put out ,,very simple and effective

    When were those numbers released

    Posted by loujjj on 29th of Feb 2020 at 12:07 pm

    When were those numbers released ,,,after fridays close ?

    This lack of economic activity

    Posted by loujjj on 29th of Feb 2020 at 11:55 am

    This lack of economic activity is going to cause carbon emissions to drop  substantially ,,,,then the bankers won't make money on trading of carbon credits.

    What's good for the environment? a recession,,,,Great a depression,,,,,fantastic,,mass extinction,,,,,,,,,,,so why does the government care about a slow down ?

    It should be considered good ,,, maybe it's tax revenues they're worried about ...think of the taxes they'll lose ,,,they may go broke or print more

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