Anyone scalping the FTSE Futures??

[barjon]

I think the FTSe got way ahead of itself on Thursday and hence the imbalance..may take a couple of days for the indexes to rebalance..

Here's the cumulative strength/weakness of FTSE vs DOW since January - currently FTSE should be around 400 higher if it had kept pace with DOW from January.

Also here's the daily strength/weakness in October. You'll see that a couple of strong days last Tuesday and Wednesday were followed by a couple of weak days Thursday and Friday. I'll be anticipating a bit of strength next, but whether that's associated with the markets rising or falling I dunno.

jon

 

[Mornington Crescent]

FTSE Cash Bullish Percent is now at 94%
and also back up to resistance area

watch out for a lower high on the hourly

 

[DaddyJohn]

you might be right dj maybe the big 600 still has some pulling power

i used to have pulling power

You never lose it Dick... it is just sometimes harder to find

 

[dc2000]

Capitulation thats my new word

even Soros knows the game is up

 

[Dick Lexic]

just an observation but quite often when i'm thinking short i'm always wary of the time period 8.40/9am. i think they use this period to test the market for the day. i'm always glad to see the first hour out of the way

 

[ordinaryguy76]

Capitulation thats my new word

even Soros knows the game is up

yea, what's the sentiment today ?
I'm very bearish and put my money on it (but will get refund from SB company if I lose )
Anyway, 5750 hit twice (Thu, Fri) and held. 5649 current resistance area.

 

[Dick Lexic]

halloween but the markets don't seem to spooked at the mo

 

[DaddyJohn]

just an observation but quite often when i'm thinking short i'm always wary of the time period 8.40/9am. i think they use this period to test the market for the day. i'm always glad to see the first hour out of the way

I dont like the first hour.. there is no real volume usually and so easy for algos to manipulate..

 

[DaddyJohn]

Capitulation thats my new word

even Soros knows the game is up

is he on this thread DC?? maybe this is where he gets all his ideas !!:cheesy:

 

[DaddyJohn]

5592 area looks like a reasonable buying area today

 

[MartinC-J]

Nothing to do with scalping really, but I just panned back on the Net Lending to Individuals number from today to 2005. Gives you an idea as to why our economy has ground to a halt. We are nowhere near the lending figures from 6 years ago. The banks have no money to lend, and the whole system has more or less shut down. Amazed our economy is growing at all. We should just print about 10 billion and give it to the banks to lend out.


As for this mornings trading. I was fine for the first 30 mins then gave it all back on this mincy price action. I am currently long for the reason that it tested 5603 three times and held. I am not completely sure where it is headed. I was convinced earlier that we would see 5596 and possibly even 5585, but it didn't happen in an orderly fashion. I should probably just sit on my hands until some conviction returns to the market, but I will let the single lot run for now.

 

[MartinC-J]

Where has all the volume gone!!

Looks like the ES has everyone confused. It did its 161.8% extension early leaving the FTSE without any friends to help it make a new low. I closed my long at 11:11am, and am now short. At least I was until a second ago, when my 8pt target was hit. I will probably reload short again on a pullback, but I am not at all convinced by the price action.

 

[MartinC-J]

Again FTSE pushing down, ES wants to go up!!! ES has done 38% retracement from thursday's high. FTSE has not made it to 127% or 161.8% extensions from two different time frames. The market clearly wants a decent pullback to buy into, but people keep jumping the gun early, so price action is uneven. Wouldn't be surprised if we bounce off the 20EMA on the 5mc and retest the lows.

 

[MartinC-J]

I think this market has bought a dodgy pack of viagra. Each time it tries to go up, it seems to run out of steam!

 

[DaddyJohn]

Lovely trend resistance coming up at 5575 /85 level.. previous hits supported by a lot of volume ..

 

[Dick Lexic]

I think this market has bought a dodgy pack of viagra. Each time it tries to go up, it seems to run out of steam!

i wonder what any new visitors to this thread think when we go on about pulling power and viagra

 

[MartinC-J]

Well, we are back to a FTSE going down, and an ES going up. The volume has increased, but the price action is still crap.

 

[ordinaryguy76]

Anyway, 5750 hit twice (Thu, Fri) and held.

Double top playing out nicely.
I'm out of my trades for today with +35 pips.

 

[MartinC-J]

Amazingly the ES still hasn't gone lower than the 38% retracement level at 1261.50. This MF GLobal thing has neutered the US markets this afternoon. We have a range of 5.5 ES points since the open.

The FTSE on the other hand is doing the dying swan lake manoeuvre. It is dragging out the last scene for full effect as it thinks everyone is watching it. It may make it to 5555 which is my next target, but it sure is boring watching it get there. The 20 EMA on the 5 minute chart has held all afternoon. So a clear move above it with maybe two 5mc closes minimum, is a sign for the longs to come out from behind the sofa.

 

[Dick Lexic]

looks like the market is dressed up as a butcher for halloween
i'm of for my nuts.