FTSE 100 - April

[bonsai]

think I answered that before

I have no idea

 

[bonsai]

how could anybody have thought manufacturing data might be strong ?

what manufacturing data ?

 

[splasher]

indeed, whatever the movement or lack of it on rates we'll have the usual moaning from the industrial sector, that indicator is becoming pretty worthless in my opinion
haven't got a scooby on rates but what do you think will happen if they raise?

 

[bonsai]

lol

I have no idea

sorry but I trade the charts and let the news take care of itself.

 

[splasher]

good move as the news can always be interpreted in both directions such as this no move
market doesn't know if it's good or bad
back to the charts then

 

[mully]

76.4% Fib appears to be holding up the advance. But lack of any sustainable selling pressure (downward movement) suggests, to me, the ultimate path remains northward.

 

[bonsai]

yup

target is still 4516

 

[mully]

FTSE250

I thought I would post a picture of my trusty old FTSE250.

As usual, IMHO, it paints a clearer picture than its bigger brother.

The FTSE250 appears to be starting its wave 5.

 

[bonsai]

all done now for a while

off down the M4 to overtake all the caravans.

may not be around for a week or two.

so best of british and have a good holiday.

 

[Finirama]

Enjoy Bonsai

 

[bonsai]

one final thought

looks to me as if its been itching to test the up trend line from 4295 but didnt want to break the fib

it can now do that if it wants to as t/line is at 4466

(just tested same line on the Dax)

 

[Hooya]

Hope you all have a great weekend. Will pop in more this coming week. Been busy this week doing various things. And only managed 50% increase for the comp Bonsai...which wont come close to the top by the sounds of things but it was worth ago

See you next week

 

[splasher]

well it took out the 4516 mentioned earlier and has filled the gap created this morning.
now wondering if it is forming a good base around here and looking to move northward
i hate coming back after a few days off and trying to get back into the swing of things
any other ideas out there?
splash

 

[oatman]

Thinking along similar lines. I tried a long with a tight stop but it didn't have the legs. I think it might have another go but I'm reluctant to re-enter at the moment. I was looking for about 25 on futures.

 

[Hooya]

just for info..I am looking for a high today/tomorrow and then down to close todays opening gap. The move up, although still in the 60 min channel, has been quite messy imo. Ideally a move to close the gap at 45 and 53 would be a great shorting op imo. Look at where the £$ is.

 

[splasher]

perfect doji on the futures at present if they stay around the 4524 level with some large trades going through
just initiated a small short as not too sure but leaning towards a down day tomorrow, especially if intel disappoints tonight
markethas felt strong for last few days but seems to be running out of breath today at these levels imho

 

[bracke]

When you refer to 'fill the gap' and 'gap filled' can you tell me what you mean.
Thank you.

Regards

bracke

 

[splasher]

It's discussed earlier in this thread but briefly where a price gap appears ie market closes at 4400 and opens at 4420 a gap appears between 00 and 20
if it then trades back into that area and goes down to 4400 the gap has been filled
i'm sure one of my learned friends can explain more eloquently but i am just a trader
hope it helps
splash

 

[splasher]

Anyone trading FTSE today as it's very quiet.
I'm looking at 4480 as a significant level today on the futs and next level down to be 68 then 46, still slightly bearish but lessening position with a view to reinstigating if it moves higher
Splash

 

[Hooya]

Yup I am trading it Splasher, it's broken out of its 60 min channel
since 4300 but it could retest the line form underneath as it was quite imortant. (Currently in the 90s)