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FiringSquad13

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FTSE 100 and S&P get a good bounce off the Yellen testimony (text) released 1:30 pm, presented in person 3:00 pm.

FTSE breaking to the upside from start of month range.

USD up initially, now falling to fresh lows on decreasing expectation of Sep/Dec rate hike.

 

4hr charts.

 

FTSE100(£)H4.png1207.pngSPX500(£)H4.png1207.png

 

 

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That's OK but can you actually project a target? You sound like a sports commentator who comments on the game without being able to predict the next move nor the outcome.

Of course, we all know that it won't be reasonable to demand otherwise.

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Quite right ,  prediction is impossible, the only indicator of any real use would be one that warned us that a very large order was being executed, a kind of 'insider dealing' indicator.

So the next best thing to prediction is reaction, as we know price moves sideways until there is a buyer/seller imbalance when price moves to retest a level above or below. No one can watch all markets all the time so a friendly heads up that a certain market is moving or has reach a significant level some may find useful.

 

We have all seen predictors on forums and they are usually more often wrong than right and tend to do a lot of damage to the accounts of newbie followers who don't know to take it all with a pinch of salt.

 

I see FTSE 100 has broken down this morning to retest Friday's low and may go on to retest 7345.

 

FTSE100(£)M15.png

 

 

 

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Very well said that predictors on forums cause a lot of damage.

We are all like football fans watching a game. All excited and dissapointed at various times. At times it looks like we can identify paterns and strategy and looks like it's about to pan exactly as we expected and sometimes it does but more often it goes belly up.

The commentators are nonethewiser. They see just as much as everyone else. The difference is that that have a microphone and are paid to comment (think about the so called market analysts, lol). When was it ever that a commentator would announce from the start how many goals on each side at what time and that Team X will win the game ?

Mind you,the stock market is ever harder to predict than a football match.

 

Good luck to you!

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