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no sharp pullback allowed until decisive new high otherwise it'd be double top or lower high trend reversal. key time.
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Full court press overnight. China trade mission rumors and Fed rumors of backing off QT. All aided and abetted by the Wall Street Journal. By amazing coincidence I have the 76.4% retrace of Monday's sell off at ES 2662.41 and today's overnight high (just at the cash open) at ES 2662. While I may make occasional sarcastic comments about the PBoC's "National Team" manipulating their markets at least they are up front about it. Perhaps instead of Reagan's plunge protection team they should call it the New York Washington Old Boys Club.
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On Tuesday evil site had a big article featuring thought s of Nomura's cross-asset strategist, Charlie McElligott, aka the new boy wonder. Critical information for your calendar is Feb 6th when buybacks are likely to start moving the market as 75% of companies will be out of the reporting black out.
London/Frankfurt now at 20 point range for their day. Assuming 30 points possible works well with FT 71's upside target of es 2675 to 2676. But they will run out of time long before they hit that price at this pace. Need some big buy programs to kick in.