Anyone scalping the FTSE Futures??

[Mornington Crescent]

as near there as dammit . new low at 5570
will it or wont it break downwards

time to move stops closer just in case

 

[Mornington Crescent]

ftse doesn't think much of the dow 15:00 reversal - might catch up fast if it continues

Dow was just playing out the morning rally that FTSE had several hours ago

 

[Mornington Crescent]

looks like Sarky is in trouble

Denmark wants tax to be global and is threatening a referendum

Holland want to renegotiate its contribution

Merkel says there is no unity within germany on proposed tax

etc etc

:clap:

 

[Dommo]

Dow was just playing out the morning rally that FTSE had several hours ago

MC - is that tongue in cheek?

Dow futures rallied in sync with FTSE from 6am to 8.45am - I would say that was the end of that, and Dow was bought from 3pm for reasons unconnected.

Are you suggesting that Dow action this afternoon echoed that of FTSE this morning? Any theory on why that would happen, given that FTSE's morning rally is history? (eg Dow trading engineered to revisit overnight high?)

Thanks

 

[Dick Lexic]

bouncing of 61 fib again at 612

 

[barjon]

Dow was just playing out the morning rally that FTSE had several hours ago

😆- nice one, MC. You know in your heart that DOW is the big bully in class

 

[Dick Lexic]

we seem to be in a volume sandwich 30/60

that's my new technical term🙂

a close back in the sandwich.... we had a fair bit of volume in at 612 so weakness below that for me. if we get above 60 then that would put the spring back in her step 🙂

 

[Mornington Crescent]

not many clues here either except what is in the charts

since the high, which was a doji, we have had 3 lower highs and 3 lower lows

the low today which was only a partial fill came late in the day, so may need to be revisited

 

[Mornington Crescent]

the low today which was only a partial fill came late in the day, so may need to be revisited

Scratch that

Have decided to consider gap as closed
there was a high early in Dec which was within 1pt of yesterdays low
so that makes it too close to call

 

[DaddyJohn]

not many clues here either except what is in the charts

since the high, which was a doji, we have had 3 lower highs and 3 lower lows

the low today which was only a partial fill came late in the day, so may need to be revisited

what do you mean by a partial fill MC?

 

[Dick Lexic]

sandwich has moved slightly now 40/60 .....flirting with june low again 🙂

 

[MartinC-J]

As far as I am concerned the end of December gap has been filled. The futures needed to get to 5557 and it made it to 5561.5 just before the cash close yesterday. The ES at the same time bounced nicely off it's lower channel line support. Medium term this should keep going up, but for short term just go with the price action.

We have a greek bond auction today with results due just before 11am. I think they will just confirm Greece's exit from the euro, but should not cause any kind of europanic on the futures market.

 

[DaddyJohn]

trading above yesterdays value area of 5610 - 5580 (futures) .. came down to test the high price (where I went long)

 

[Mornington Crescent]

what do you mean by a partial fill MC?

a partial fill is when a gap of say 10pts is only filled by 4 pts before the market turns up again still leaving a gap but now of only 6pts

 

[DaddyJohn]

to be clear .. that was a quick scalp --- sorry sometimes old habits die hard

 

[DaddyJohn]

a partial fill is when a gap of say 10pts is only filled by 4 pts before the market turns up again still leaving a gap but now of only 6pts

yes.. fits with market profile theory MC... I am often have seen this when I used stellar , that if there were some empty prices then the market had to go back and fill them.

What time did you see this happen MC?

 

[Mornington Crescent]

What time did you see this happen MC?

I think you must have missed my post 4630

 

[MartinC-J]

Just what is it with the FTSE these days. The ES and FESX barely retrace much from the recent high, whereas the FTSE retraces to 50%. On the 1 hour chart, the FTSE is below the high of the last two days, whereas the ES is above and extended by 127%. It's not as if Crude is selling off, it is near highs.

It makes it very hard to have a lot of faith in longs if the FTSE is not playing ball.

 

[Dick Lexic]

not exactly a spring in her step

 

[Mornington Crescent]

Just what is it with the FTSE these days. The ES and FESX barely retrace much from the recent high, whereas the FTSE retraces to 50%. On the 1 hour chart, the FTSE is below the high of the last two days, whereas the ES is above and extended by 127%. It's not as if Crude is selling off, it is near highs.

It makes it very hard to have a lot of faith in longs if the FTSE is not playing ball.

Its anybody's guess of course

what I see is that the U.S is now back to its June resistance

when FTSE tested its June resistance back in october , it got sharply bounced down

so they may be waiting to see what happens in the U.S

no point walking into the lion's den twice, let the other fella have a go

😆