Anyone scalping the FTSE Futures??

dan1986ccfc said:
Hi Martin,

Just briefly, where have you taken this extension from?
Click to expand...

Dan

Remember I use FTSE futures for prices, which can be a bit confusing as some people here use the cash price from a spreadbetting firm.

For the extensions I usually try to use a high (or low) from the previous day and a low (or high) from the current morning session. But they can sometimes come from the same day if there has been a big reversal during the day.

Yesterdays high was 5496.0. I took the low of 5372.5 from this mornings 7 o'clock hourly candle. I still don't use levels from between 9pm and 7am. I know DJ uses 24 hours, and I am not sure about DC.
 

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5089 safe as houses

DJ quivering
thats all the news we need

seriously this weeks three pattern is complete if a little weak

FTSE has produced one upward target but has several outstanding to down side and depending on price action before end of week the next target produced could be 4670 area, a new 52 week low before christmas then ya santa rally??
 
Its on, its off, its on, its off, hes, going, hes staying blah blah blah

Too tricky for me. Vote tomorrow at 10pm and NFP tomorrow too.
Out for now.
 
Not done too bad today.. 74 pts up. but it has been hard.

the outlier for me today is does Draghi announce he is turning on the printing press???

if he does - then Woolworths may get the shop window back:sneaky:
 
FDAX is at 161.8% extension at 6125.4.

FTSE having a think about it and might make a mad rush for 5529 on the jobs data at 12:30 or the ECB announcement at 12:45pm.
 
And one more. ES is at 127% extension at 1245.50.

Papandreou resigning should be bad news for Greece and the euro, because it raises the likelihood of Greece pulling out of the euro, but I bet the markets go up on the news.
 
I wonder if someone knew that the ECB would drop rates which explains the full on buying all morning. If that is the case then maybe they would start selling now.
 
For FTSEZ1 5556 is the 61.8% retracement level from the daily chart. It was breached wednesday, thursday, friday of last week. But I think it is still a strong level. The price spiked to 5554.5 on the ECB rate drop news. This has to hold if this rally is to bounce here and go back and retest 5500 (my first target) and then 5420 my next target.
 
I have just heard from my Greek friend who runs the pizza shop near me. He tells me that Papandreou has not resigned. I repeat. He has not resigned.

No wait. His cousin just called him from Athens, and he runs a cafe there. He told him that he just git a delivery order from the Greek Parliament. The order included anchovies. Papandreou hates anchovies. So it could mean his is not even there and resigned already. That news swings it for me. I'm selling everything I have 100 contracts short at 5540.

Boy its great having signed up to GreekSquawk. It's so important having accurate information.
 
So the market went up regardless of this ongoing greek tragedy. What does it tell you about the market. Maybe it just wants to go up anyway.
 
DaddyJohn said:
Not done too bad today.. 74 pts up. but it has been hard.

the outlier for me today is does Draghi announce he is turning on the printing press???

if he does - then Woolworths may get the shop window back:sneaky:
Click to expand...

you still hogging the lift dj?:)
 
I love an early high

shorter than a short person in short shorts on DOW and FTSE

as in finding nemo "just keep sellin" " just keep sellin"
 
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