Anyone scalping the FTSE Futures??

This has the look of a market that is going to motor after 4:30pm. Don't know which way at this point.
 
DJ - What are the rules for a buy day in a downtrend? It looks like it should make a lower low than the day before which we have already done. And the high for the day should already be in? Is that right?
 
A manic market this morning, or is it just me.
Mr Fitch just said Italy is not expected to default and the next market moving news is.....???
 
MartinC-J said:
DJ - What are the rules for a buy day in a downtrend? It looks like it should make a lower low than the day before which we have already done. And the high for the day should already be in? Is that right?
Click to expand...

Well that bit of news from the IMF has changed everything. It is now looking like a buy day in an uptrend. On the 1 hr chart for the FTSE the downsloping channel has been broken to the upside. If we pull back into the channel and break below 34.5 then I think it will test the downside again. Otherwise a move back above 69.5 is pretty bullish.

Today the US is more interested in the results from Goldmans which should be around midday to 1pm. Last quarter they missed badly so these results will be scrutinised.
 
ctlpast said:
A manic market this morning, or is it just me.
Mr Fitch just said Italy is not expected to default and the next market moving news is.....???
Click to expand...

ctl - I think we had put in a lower high at 9:40am and we were headed lower when the IMF news was broken. And as you can see by the current price action, the market is not sure where to go.
 
MartinC-J said:
ctl - I think we had put in a lower high at 9:40am and we were headed lower when the IMF news was broken. And as you can see by the current price action, the market is not sure where to go.
Click to expand...

It is me, my reaction time is slow, after the past few days the price has seem to have been moving much slower early morning today was more extreme.
I must re-adjust or inject myself at 8.00 am with a lot of caffeine.
 
a bit of divergence on the s&p, monthly charts = higher lows, weekly charts = higher lows, daily just confirming inverse h&s, 1300 cash could be the spring board.....that's what's good about this game you just got to work out all the little clues..... ha then get it wrong:):)
 
ctlpast said:
It is me, my reaction time is slow, after the past few days the price has seem to have been moving much slower early morning today was more extreme.
I must re-adjust or inject myself at 8.00 am with a lot of caffeine.
Click to expand...

I was up at 1:30am last night sitting watching Bob the Builder with my two year who didn't want to sleep. So my reactions too were a little slow this morning. I missed three entries first thing and have been overcompensating for it since.
 
MartinC-J said:
I was up at 1:30am last night sitting watching Bob the Builder with my two year who didn't want to sleep. So my reactions too were a little slow this morning. I missed three entries first thing and have been overcompensating for it since.
Click to expand...

how's spud,roly, wendy these days :LOL:
 
Dick Lexic said:
how's spud,roly, wendy these days :LOL:
Click to expand...

They all say hi! And want to know if we can build it. Whatever that means.

We got GS earnings at 12:40pm and it looks to me like a miss on top and bottom lines. In fact most of the earnings so far out of the banks have been unimpressive. The focus shifts to IT tomorrow with IBM, Google, Intel, and Microsoft all reporting.
 
That's a 15 point range from 3pm to 4:30pm. I just couldn't see anything worth trading. I ended up breaking even for the afternoon session after a good morning session. I think the market is finally calming down after last years volatility.
 
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