Day 17
Situation:
U.S. Markets: Firmed a bit on interest rate cut hopes … seemingly everybody already is sure about the outcome. Today morning prices higher on Texas Instruments raised outlook for Q4 , the possibility of Motorola being a take over target soon and lack of fresh bad news form the financial sector.
Asian Markets: Higher across the board, despite China inflation at an 11-year-high … 6,9%(!!!) … China talking about letting the Yuan appreciate more in 2008 as Paulson is in China … but correctly mention, that this won’t correct the problem by itself.
Commodities/Currencies : Euro strenghthens ahead of expected FED move … commodities rather flat …
Events: US … FED decision on rates, IDB/Tipp Economic optimism, wholesales inventories … Germany … ZEW
Ideas/Strategy: … Dax still technically strong … but on a Fed day … CAUTION RULES … As FESX still not has broken its important level … I wait for confirmation or divergence … would like to buy a move to test the downside … or sell a hourly reversal …
supports: 8025 … 7980 … 7960 … 7918 … 7880 … 7850
resists: 8080 … 8130 … 8230
Tags: China, daily outlook, FED, Motorola, Texas Instruments
