Anyone scalping the FTSE Futures??

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Blue could be history

 

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Poss scenario
Blue is rez on dax
Spx ...we get blue
OR
we go higher

 

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Ftse also in support

 

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Were we right with our trend analysis on the line chart...Flick to bars

 

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Trends marked

 

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Flick to bars

 

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Blue never happened despite all the stimulus

 

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Close up

 

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In supp

 

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Blue
dump for a scalp

 

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Pump into rez

 

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scalp the dump

 

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will be a busy day in both data and event terms, but as yesterday & today's price action in equity markets more than amply demonstrated, all that markets actually care about is the flow of central bank purchases (Fed and today BoJ). Thus the Fed's announcements that it will add outright secondary market corporate bond purchases to its SMCCF (https://www.newyorkfed.org/newsevents/news/markets/2020/20200615 ) and the launch of its long-awaited "Main Street lending program" (https://www.federalreserve.gov/monetarypolicy/mainstreetlending.htm ) in which it now also try to reach 'not for profit' organizations, prompted a sharp reversal of an initially dour tone. The fact that the stated aim of the change to the SMCCF is to funnel money to corporates that are too large to qualify for the Payroll Protection Programme should raise a lot of eyebrows: clearly adding yet another layer to backstopping all markets (and thereby applying scorched earth policy to all risk premia). But intrinsically also sending a flashing neon sign type signal that a) financial markets are not functioning, and b) that it sees the need to bail-out USA Inc - in other words offering a dire signal on the outlook, even if this is consistent with last Friday's semi-annual report to Congress on monetary policy about 'significant financial-sector vulnerabilities'. The observation that has to be repeated is that the Fed and other central banks will struggle to fashion an exit from most of their current 'unconventional' programmes, and when they even start to hint at any form of exit, markets will throw the mother of all tantrums - 'as you sow, so shall you reap'. Also to be repeated: 'liquidity is not solvency', and it does not contain infection rates or stop fatalities.
From Marc Ostwald

 

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dump

 

[10pips]

different traders see different levels which makes this trading malarkey more interesting/challenging/confusing.

Yesterday drop may be start of another down trend?

Dax 12270 is an area am going to eye for shorts.

Posted this on Friday, missed the boat...