
Outside China, stocks are quite boisterous here in Asia leading to good buy signals for the northern hemisphere as we close the trading week out. The USD is coming back against Yen, while risk proxies Kiwi and Aussie bounced a little higher today but are lacking any signs of real momentum.
Chinese stocks are still under pressure with the Shanghai Composite playing catchup to fall over 0.6% to close the week out below 2900 points while the Hang Seng Index finally stopped falling, gapping higher at the open but holding on with a minor 0.1% gain into the close to 26366 points. Price remains well below previous trailing ATR support and the previous resistance zone so a continued retracement down to 25000 points is still on the cards here:

Japanese share markets flipped from selloff mode to all hands on the buy button with the Nikkei 225 closing 0.7% higher to 23303 points. Yen buying abated somewhat with a sizable bouncbeack in the USDJPY pair after being considerably oversold overnight. This is not yet over however and definitely not a buy signal due to the lack of a crossover in negative momentum:

The ASX200 rebounded again, closing only a few points shy of the 6800 level, up nearly 0.9% despite a slightly higher Aussie dollar. The Pacific Peso rebounded late last night but has failed to hold at or above the 68 handle here going into the City open, as this swing looks almost out of puff before it starts:

Both S&P and Eurostoxx futures are up 0.6% or so with the S&P500 four hourly chart showing price breaking out above overhead resistance at the 3100 points level, suggesting a good finish to the week here:

The economic calendar finishes the week with US retail sales figures for October. Have a safe weekend and good trading!
Latest posts by Chris Becker (see all)
- Macro Afternoon - December 12, 2019
- Macro Morning - December 12, 2019
- Macro Afternoon - December 11, 2019
beer number 3.
Ditto. Queensland just won a cracker of a game at the MCG.
Still nothing to compare to the long form of the game.
Keep us in the loop on this fcken.
Aslo the guy at the studio I practice at is wants me to do the (simple) setups on his lender/hire guitars.
He saw one of my refrets and setups and thought it was OK.
What it does mean is my setup tools would be tax deductible. So harry would spend a month’s real income at Stew Mac and Australian Luthiers supplies
I’ll let you know if it works out fcvken.
And remember last week I was making a nut for the Emperador? I did it, it was about 70% OK, I ended up buying a Dremel workstation which is actually pretty good (drill press and can rotate it to hold like a mini drum sander).
I used some nut files I bought off Ebay, and I realise I need good ones from stewmac.
It was difficult to keep the slots straight as you cut them. Difficult to polish such a small thing.
And bone stinks when you grind it! You wouldn’t believe how persistent the smell is in the throat too. FCKEN!
But look at the difference in price between the TUSQ blanks and the unbleached bone blanks fckn
https://luthiersupplies.com.au/luthier-materials/guitar-nuts-saddles/guitar-nuts
@Nikola Savour that one, the third beer is always the best beer.
that’s about the right dose to be a Pool Legend.
This has previously been the focus of intense personal scientific study.
From distant memory, it was seven. Possibly six. But one or the other.
Just enough to let the astigmatism defocus without affecting performance.
Pints btw.
There’s a bar in Indianapolis I was lucky to leave alive after one of those performances.
Yeah, but the holes are bigger in Indianapolis.
Could someone please advise of the appropriate emoticons to use for [golf-clap] and [giggle]. Thank you.
Weirdly, I was told, quite unsolicited, very much the same thing before I left for that trip. That was 25 years ago.
You must have watched quite a lot of corn in that time.
FYI New hook Norris on scene, but still at the honeymoon stage, which I don’t mind. Feeling like a regular daniel boon at the moment, fn relocation program in full effect. Up to 4 goannas, 1 bush turkey, one possum. The trap is in my house so I don’t feel to bad about the whole thing. It has been a nice respite, I get to hang out with the king parrots and crazy coloured wrens and finches without focusing on those horrible cnts. Don’t get me wrong, I offer share plates for the nice beings. Old nana banana made a small fortune out of breeding exotic parrots. No one could figure out how she got so many eggs, so many times. Usually there is a standard egg lay and amount of times they will lay in a year. Not at Nanas love shack though.
the birds are something special ay
Looks like RIM got sweet FA on those first holes aye.
they don’t have money to proper drill the area. Drills are too shallow but in 2-3 (from memory) they did pick traces of Au and Cu – and that is the aim of the Air Core drilling when chasing porphyry deposits. In order to be able to hit the such target (in most cases for such deposits) you need RC and Diamond drills to go much deeper.
Interesting that they did not find to source of the high grade gold that has been mined in that area many many years ago.
btw – I did sell half when they doubled at 0.006 and sold rest at 0.003.
DEV and ALK are hot favored to make discoveries in that area. I hold 100k in DEV and 10k in ALK. Had lot more in ALK but sold on Thursday to collect some profit.
beer number 7
Easy tiger. I’m on 5 and still good for it
You’re slowing down. Sad.
How do you say Suntory vodka number 7 in Japanese.
They are really quite good btw. Afterglow is like a good martini without the fuss. Or the olive. Now that gives me an idea…
Why is every person associated with Angus Taylor a worthless piece of sh!t?
https://mobile.twitter.com/jommy_tee/status/1195074513974611968
Oh that cvnt. I remember reading that story when it came out and thought “what a cvnt”.
Because birds of a feather something something.
Stralia. Rotten to the core.
The thing that is most apparent about him is that he thinks the way he behaves is perfectly acceptable / normal. Extraordinary lack of self awareness.
Every time he has to apologise for yet another misdemeanour it’s because an advisor has suggested he do so.
Oh? he says ..
Tubbut is Seriously steep country! Eagles do what they do! Poisoning’s a bloody cruel way to go though……! This Angus cancer is growing to encompass people & places I knew well in my youf….. I don’t feel the need to reacquaint!
Just avin a go
https://mobile.abc.net.au/news/2019-11-15/outrage-over-department-of-communities-executive-fraud-charge/11707556?pfmredir=sm
Surprised they are not “skilled” immigrants.
Skilled candidates from out of state being sought for the role?
Looking forward to seeing who applies.
George from Masterchef?
Mines Minister (ex) from Qld?
Barry O’Farrell?
Any MP who’s ever been a Minister of Water? (sorry but I’ve genuinely lost track of that one… so many…)
That nice councilor who spent all that money on his wedding and videos of his cars?
Ah, no, sounds like the perfect gig for Mr Quadruped.
I’d be fairly happy with that actually.
I don’t know if anyone has seen this one yet?:
A Sydney real estate agency that used doctored photos to advertise a property where a man had lain dead for weeks is being investigated by NSW Fair Trading.
https://abc.net.au/news/2019-11-14/sydney-real-estate-agency-investigated-over-inaccurate-listing/11703152
I’ve seen a few stories like that lately. Someone needs to do something.
Maybe start a forum or comment group, on the daily mail? That will sort it surely?
Pfft…kid stuff.
What we need here is a sternly worded letter to the editor. That’ll do the trick.
I think you’ve done enough.
https://www.smh.com.au/politics/federal/we-roll-over-like-a-dog-jacqui-lambie-slams-approval-of-bellamy-s-sale-20191115-p53az0.html
We sure do Jacqui …
…
Yes, I know what you mean. Everything in triplicate.
Baaarrrrfffff~~~~~
https://www.independent.co.uk/voices/hillary-clinton-julia-gillard-gender-equality-women-work-equal-pay-success-a9200791.html
[email protected], murderers, pedos, unjust wars, poverty, starvation, riots, political oppression and ‘gender equality victories’.
Shoot me now.
Before reading Gillard, first achieve peace of mind… (to paraphrase)
This …. if anyone has ever thought why what I post seems maybe a bit negative …
thanks Skip … baaaaaaarf is the only response …
Not really related to anything. But interesting that an Australian/Chinese sniper in WW1 was a famous sharp shooter.
https://www.youtube.com/watch?v=HLd0nYN9Bwg
Ok boomer! Haha.
https://www.morningstar.com.au/smsf/article/ok-boomer-fessing-up-that-weve-had-it-good/197271
They’ve got theirs – have you got yours??
Looser
Can we please open our pr program for Swedish, Finnish, Japanese and Austrians? If we are going to have heaps of folk here, may as well get babes.
Pretty sure they are just trying to make sure there are enough carers for our inverted age distribution thingo, If we are goung to get sponge bathed and spoonfed we really need to think about Inga.
what have you got against Belorussians?
Aye, I’m just saying. More of this flavour, less of that. We all got our own favourites
I would have thought Banana man would love a bit of yellow skin?
And estonians!
“The judge took into account “compelling” statements from referees who described her as an “excellent mother” with a strong work ethic, trained in multiple fields including massage and farming “……..Dontcha love “skills shortages” …yeh massage and farming to be sure …………..wonder if M’lud lives in Newtown …… anyway good on her for banging away this parasite for 8 years …
http://www.abc.net.au/news/2019-11-15/woman-jailed-for-blackmailing-thai-nationals-in-sex-slavery-case/11708452
Life will still be better in a strayan prison than it would back home – and her ill-gotten loot will be awaiting her.
Great doco on China and the last one fitty years. Probably the best i’ve seen of late.
https://www.youtube.com/watch?v=boPkMCJSYSs
ta
thanks BM … interesting though to see the undercurrent of ‘Chinese exceptionalism’ that is implicit in much of the Chinese commentary … not surprising really. Those of us who have had exposure to Chinese on their own stamping grounds know we are absolutely inferior ….
Australia lets chyna buy Bellamy’s and in return chyyyna blocks two Australian senators from visiting the shythole lol
Very good point.
Just like real estate. Are Aussies allowed to buy houses in Beijing? Probably not – but they can buy anything here.
Hope one of you good folk are getting a cladding dismantling outfit going. License to print money.
Flat pack it and send it to me, I love it. As long as it is not installed higher than an international standard fire ladder she sweet.
We could get an MB team together. Fund it through the MB Fund. Wouldn’t that be some poetic justice!
Know why I love it? I hate painting. Takes 3 coats. This stuff is 1.2mm ally with some 0.8pe core. Burns like sht but no painting. Comes in 1.5 x 4.5 sheets too
I’m in.
Hows your new years res going? Psychedelic clouds everywhere?
Can tell you how to uninstall it, easy. Flat bade screw driver for the backing rod and a 5/8 impactor. Dry hire scissor lift and 2x blokes per crew
Working in it now.
noice
I think the MB meme would be more towards the recycling end of the product lifecycle. Firelighters would seem a safe bet. Recycled as firelighters.
Well, I’m after a job. Does this require a capital injection as well?
Can we call it Mr Fluffy?
Miss Sparkles.
Meanwhile, over in a magical land where resources are bountiful, the environment is un-degradable and infrastructure is endlessly plentiful, blue-birds sing (and there may be a few corporate kickbacks for growth based businesses but ahem).
https://twitter.com/DrDemography/status/1195123253758398464
Is there a way to take her batteries out?
She’s addicted to the vibrancy……
Corelogic sydney house price growth 6.75% in the quarter vs REA saying 0.8%.
See https://www.youtube.com/watch?v=HlQL_jmaDz4 @14:30
For me, Corelogic’s price action is not credible.
What do you think?