FTSE 100 - February 2005

[gullible]

peterpr,

I know the feeling too well. Looks like pull back may have started. Remember reading somewehere that a respect nl? had called 16.02.05 Dow top.

 

[FetteredChinos]

that would be the bradley model

 

[gullible]

thanks, f c

 

[peterpr]

that would be the bradley model

Heres the Bradley Siderograph on both DOW and Footsie.

It's not claimed to say anything at all about direction - just significant turns. There's a BIG BUT though - astrology and all that. Still, seems to have found quite a few of them.

One of the US analysts I follow has called a significant turn for 16th as well - based on fib projections from previous major tops/bottoms.

My own confidence in a bit more downside for Footsie is based more on the MACD, RSI and August regression channel though- there still are some seriously over-the-top conditions on all of them right now. I see the odds as being heavilly on a retrace to around 5000ish at least . Maybe more upside after - maybe not. We'll see.

 

[gullible]

Jon

Well I finally hit the button at 5010 - Dithered as usual and missed a slightly better entry. Mentioned a week because that's the timeframe I view the trade; plus before hitting the button I still thought it might meander a bit more and make it more marginal.

My biggest concern is that a respected NL is calling a DOW turn date around 16th Feb from a significant high. If the DOW does power higher over the next few trading sessions then, with present sentiment and regardless of all these high falutin techie measures, old footsie is just bound to follow.

We'll see.

Peterpr,
Seems remarkably accurate' DOW turn date around 16th Feb - it did go down today, may be start of a pullback?

 

[gullible]

Heres the Bradley Siderograph on both DOW and Footsie.

It's not claimed to say anything at all about direction - just significant turns. There's a BIG BUT though - astrology and all that. Still, seems to have found quite a few of them.

One of the US analysts I follow has called a significant turn for 16th as well - based on fib projections from previous major tops/bottoms.

My own confidence in a bit more downside for Footsie is based more on the MACD, RSI and August regression channel though- there still are some seriously over-the-top conditions on all of them right now. I see the odds as being heavilly on a retrace to around 5000ish at least . Maybe more upside after - maybe not. We'll see.

PeterPr,
Casual observation of the DOW and FTSE charts attached to your post seems remarkably accurate. Please can share the source of these charts?

Many thanks

Gull

 

[peterpr]

PeterPr,
Casual observation of the DOW and FTSE charts attached to your post seems remarkably accurate. Please can share the source of these charts?
Gull

I've taken a 30 day trial of Wave 59. VERY accurate 'squared' charts for proper overlaying of geometric constructions (GANN fans , Fibonacci Vortex + many others) - but slightly uneasy with a package that is clearly in the relatively early stages of development (lots of crashes, hardly any useful shortcuts with right mous button etc.)

Interesting to note that FTSE has tested the lower boundary of the regression channels that have been intact since 24th January on both the 60 and 90 minute charts this morning. Still above the top of the daily channel from August, but both MACD and RSI rolling over. I need a visit to the 5030 area to wash my face on current position. A visit to the mid-line over the next few days would take it to about 4950.

 

[FetteredChinos]

peter, you are a complete legend...

 

[FetteredChinos]

by the way. does anyone have any inkling at to how the bradley model is calculated??

personally i reckon it has a lot to do with liberace (thanks tradesmart) time clusters..

has anyone tried working it out?

 

[bracke]

Dear Shorters

After reading the recent posts I can't but help feeling that considerable whistling in the dark is taking place and that you are attempting to boost each others morale.

I look at the trend, it is continuing upward and appears to have consolidated above 5000. I suspect it will require something hefty to shake the tree and push ftse below 5000.

I seem to remember reading that the practice of averaging up or down is a very dangerous ploy and can seriously damage your wealth.......I know iv'e been there ! I mention this in case there are newcomers to the world of trading who may be tempted to do the same...you have been warned.

Regards

bracke

 

[FetteredChinos]

afternoon bracke..

wise words young lady..

still think we are going down though.. overbought in pretty much every timescale, and 3 week patterns indicates a drop next week after this week's narrow shenanigans..

FC

 

[watercooled]

The BBQ is ready for the steaks

Dear Shorters

After reading the recent posts I can't but help feeling that considerable whistling in the dark is taking place and that you are attempting to boost each others morale.

I look at the trend, it is continuing upward and appears to have consolidated above 5000. I suspect it will require something hefty to shake the tree and push ftse below 5000.

I seem to remember reading that the practice of averaging up or down is a very dangerous ploy and can seriously damage your wealth.......I know iv'e been there ! I mention this in case there are newcomers to the world of trading who may be tempted to do the same...you have been warned.

Regards

bracke

Yeah... right. Thanks for that matey. You can't tease the bears when they are about to make some cash. The BBQ is ready, I'm looking forward to some steak! The next couple of weeks will be very tough for you guys.

I'm off abroad for a couple of weeks, but left my shorts in position.

Have fun!

 

[FetteredChinos]

I'm off abroad for a couple of weeks, but left my shorts in position.

Have fun!

funny that, i left mine on the line...

 

[watercooled]

lol!!

funny that, i left mine on the line...

lol!!

 

[bracke]

afternoon bracke..

wise words young lady..

still think we are going down though.. overbought in pretty much every timescale, and 3 week patterns indicates a drop next week after this week's narrow shenanigans..

FC

Afternoon Seymour

Thank you kind sir.

Yes I've been reading about this overbought in everything including the cats entrails but it's still going up.

Must now go and swing my handbag at watercooled, suspect his immersion heater is on.

Regards

bracke

 

[bracke]

Yeah... right. Thanks for that matey. You can't tease the bears when they are about to make some cash. The BBQ is ready, I'm looking forward to some steak! The next couple of weeks will be very tough for you guys.

I'm off abroad for a couple of weeks, but left my shorts in position.

Have fun!

Neither bull nor bear. I'm merely keeping my fur dry, so not tough either way but If I did end up on the menu you would find me very tough.

The only time I ever went on holiday and left a trade open was a long with........................Marconi, Oh what a homecoming. Never did that again.

Regards

bracke

 

[FetteredChinos]

you havent been on holiday for 3 years?

all work and no play makes Bracke a dull boy...

 

[watercooled]

Good banter ahead of the weekend

Neither bull nor bear. I'm merely keeping my fur dry, so not tough either way but If I did end up on the menu you would find me very tough.

The only time I ever went on holiday and left a trade open was a long with........................Marconi, Oh what a homecoming. Never did that again.

Regards

bracke

Good banter ahead of the weekend,
I trade both ways too, sad to hear about your Marconi trade, better luck next time...
Have a geat weekend everyone!

C Uall in a couple of weeks

 

[FetteredChinos]

you too WC..

dont forget to pack clean underwear.

 

[bracke]

you havent been on holiday for 3 years?

all work and no play makes Bracke a dull boy...

Too painful, even spaghetti causes a rash.

dull but aiming to shine.

Regards

bracke