FTSE

[FiringSquad13]

FTSE chart not looking good.  A break below 6250 could see a big drop.  This is the 4 hourly chart.  If Wall Street closes down tonight I would be watching this to move down tomorrow.  Bearish on this one at the moment.

 

[Welshman]

Nice one. We broke 6250 today and, like you, I see a large downside move after a pullback from current levels (6182) to around 6370's. I'm waiting to see if that analysis proves correct before taking the plunge

[FiringSquad13]

 What is really frustrating is that I could see it happening but didnt put the trade on.  Actually ended up having to close a few trades today that went against me.  

[FiringSquad13]

Things not looking good for the FTSE. If 6030 goes I would expect a drop back below 6000.

 

[Welshman]

Hi Firing squad,

well..... I'm still watching and waiting:) currently looking at 6282 level (61.8% retrace) if we breach that I anticipate drop to below 6000. Patiently waiting for entry.......

 

what do you think?

[Welshman]

Hi Firing squad,

well..... I'm still watching and waiting:) currently looking at 6282 level (61.8% retrace) if we breach that I anticipate drop to below 6000. Patiently waiting for entry.......

 

what do you think?

[FiringSquad13]

I think the rally of the last 2 days will be short lived.  Still bearish on the FTSE.

 

One to watch for now ....

[Caseynotes]

Trying to put in a big opening 1 hour bull bar after pulling back from the high yesterday afternoon. Large opening bars can be indicative of the morning session and may see a test of the high. The prospect of tomorrows NFP may weigh come the afternoon session.

 

 

 

[Caseynotes]

FTSE trying for another big 1 hour opening bar off support at 7500.

 

[Caseynotes]

BBC Business reporting FTSE opening slide but beware, fast approaching long term support at range bottom.

 

 

 

[Caseynotes]

FTSE makes a high volume plunge to break the bottom of range.

 

[Caseynotes]

FTSE retests support turned resistance and continues down to new low into close of day. Will be interesting to see where futures take it out of hours to start tomorrow. Next support level around 7300.

 

 

 

[Caseynotes]

FTSE 100 was looking to put in a big mid day reversal till got hit by an uncooperative S&P 500.

 

Both 30 min charts.

 

 

 

[Caseynotes]

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.

 

 

 

[Tri]

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.

[Caseynotes]

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.

 

 

 

 

[Tri]

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!

[Caseynotes]

Large opening 1 hour bull bar shows intent to target 7600. Dax moves in same direction trying to break out of a month long range.

 

[Caseynotes]

FTSE remains instep with the S&P 500 resting at recent high. The 8 am opening bar could be a breakout.

 

1 hour charts.