Anyone scalping the FTSE Futures??

Now that's interesting. The FTSE tried to go down before 4:30pm and then reversed back up at the close. The ES on the other hand stayed up at the cash close and then broke down. The ES has done a nice 50% retrace on the hourly and filled its gap ( minus 1 tick) at 1310.0. It should retest the lows, but now the FTSE doesn't want to go there. Time for a cuppa methinks.
 
MartinC-J said:
Now that's interesting. The FTSE tried to go down before 4:30pm and then reversed back up at the close. The ES on the other hand stayed up at the cash close and then broke down. The ES has done a nice 50% retrace on the hourly and filled its gap ( minus 1 tick) at 1310.0. It should retest the lows, but now the FTSE doesn't want to go there. Time for a cuppa methinks.
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just redressing the balance i guess - ftse been weakish all morning, then on the stronger side this afternoon aside from a weak hour twixt 3 and 4pm which was corrected into the close. No weak/strong dramatics though.
 
barjon said:
just redressing the balance i guess - ftse been weakish all morning, then on the stronger side this afternoon aside from a weak hour twixt 3 and 4pm which was corrected into the close. No weak/strong dramatics though.
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miners seemed to sell off the last hour.. but other sectors strong to neutral
 
if you know anyone with a sleep problem just get them to watch this market ...i nearly fell of my chair :)
time out ..back at the close
 
Well that's a 10 pt range on the FTSE for over three hours. These markets have really quietened down. It's all happening in the globex hours which should really upset the US traders. I think it was Larry Levin who said that the US govt was supporting the prices in the globex hours and leaving little opportunity for the US traders later in the day.
 
we got 5750 back ....not very convincingly but s&p looks a bit better over 1311...maybe we'll get the bull by the horn tomorrow
 
It's a wednesday, notoriously rangey. Yesterday it ranged in a tight range for 3+ hours in the evening hours. It gapped higher. Don't know why. Maybe excitement as a result of AAPL's earnings. The gap has just closed, and we had a good Ifo Number. It should be a 30 pt range this morning. You don't know for sure, but just be cautious going short at lows. Try and look for rejections by the 20 EMA on the 5 mc. We've also got the FOMC rate statement tonight at 5:30pm.
 
Can't get anywhere near the 20 EMA. The GDP number was grim. I guess it is stating the bleedin' obvious but this is no longer a range day.
 
Sidekicker said:
WTF is going on this morning? I almost sold 5770. gutted.
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I managed to catch the GBI (green bar ignored) after 9:30am, but I did not believe we would get a sell off today. Shows you should try not to have a bias, which is very difficult sometimes.
 
MartinC-J said:
I managed to catch the GBI (green bar ignored) after 9:30am, but I did not believe we would get a sell off today. Shows you should try not to have a bias, which is very difficult sometimes.
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I think you have to have a bias, just have to know that it's blatantly wrong sometimes ;)
What's the cause for the selloff though? Can;t just be FOMC as that just usually leads to light volume no direction.
No major news out either?
 
I guess I knew my bias was wrong when we got the continuation down at 9:35am. I think the sell off is due to the poor UK GDP number, and a bit of eurobabble thrown in too. What threw me was last night's close on wall street. The ES pushed up in the last minutes to complete a 61.8% retracement. I assumed we would move down after that. Then after 9:30am the market jumped up further, I think, as a result of AAPL's earnings. I had a short on the ES last night that I closed this morning when the sell off didn't happen immediately after the open.

On the hourly we have just had an exact ABCD pattern complete. Monday high to tuesday low = 74 pts. This mornings high to this mornings low = 73.5 pts. Albeit C to D happened very quickly compared to A to B. We might get a long slow slog back up to 5692 or 5700. I'd like to think that was it for the sell off, but after such a long run of up days, you have to think there is a decent pullback due.
 
MartinC-J said:
I guess I knew my bias was wrong when we got the continuation down at 9:35am. I think the sell off is due to the poor UK GDP number, and a bit of eurobabble thrown in too. What threw me was last night's close on wall street. The ES pushed up in the last minutes to complete a 61.8% retracement. I assumed we would move down after that. Then after 9:30am the market jumped up further, I think, as a result of AAPL's earnings. I had a short on the ES last night that I closed this morning when the sell off didn't happen immediately after the open.

On the hourly we have just had an exact ABCD pattern complete. Monday high to tuesday low = 74 pts. This mornings high to this mornings low = 73.5 pts. Albeit C to D happened very quickly compared to A to B. We might get a long slow slog back up to 5692 or 5700. I'd like to think that was it for the sell off, but after such a long run of up days, you have to think there is a decent pullback due.
Click to expand...

aye, we got a small 8:30 reversal, a feeble attempt at 9:00 and the 10:00 just managed to flatline it for a bit. All eyes on Wallstreet now - I'd be surprised if they open lower after APPL and the 15:00 reversal try might be interesting.

Anyway, undeterred, I've got a ftse/dow pair running since 10:30 after some reasonable ftse relative weakness - it's about net flat at the moment.
 
Wouldn't be surprised to see a move back up to 5770 again, flush out weak longs at the moment.
 
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