FTSE 100 Intraday - December

[barjon]

the base of last Monday's long candle held again and todays
action produced a nice positive hammer (not too keen on the
volume again tho') which augurs well for the little fib bird and
beyond (well spotted mully - you must be a twitcher in the
cotswolds) although we haven't heard the final dow whisper yet.

 

[mully]

Hooya,
This is for you, given your interest in trendlines. Any thoughts on the FTSE 100 trendline from 4417?

 

[bonsai]

well well

the offer right now is 4378

what a coincidence !

(if you believe in coincidences ?)

 

[tradesmart]

Well, I think the message is clear Bonsai - forget the t/a, just get a decent bird..............

 

[bonsai]

you wish ?

 

[bonsai]

somebody mention trend lines ?

well, as we are talking about trend lines ( )
take a butchers at this resistance line.
it was in play last time we hit it and maybe tomorrow
all those guru's forecasts of a top on the Dow may come true !
(after a false break up ?)


There will be a whole raft of new trading systems on the market before you can say "Alan Greenspan" ?
perhaps he will announce his retirement to coincide ? Wow !

On the other hand .......

 

[jonnyy40]

Bonsai,could you include a 'points attainable today' summary in any end of day 'round up' you post?

 

[bonsai]

as you know I used to do that but its a very subjective assessment so I probably won't do it regularly.

But today with a falling 1 day, and a falling macd to start
the clear trade was short until around 4340 when I suggested
a bounce was imminent. That produced a higher low on my RSi
and macd but waiting for the end of the 5 leg 'b' wave after 1pm
may have helped your nerve ?.

On the pickup the index crossed up thru' 1hr after making a low
and carried on up from there supported by rising RSI,rising macd
and rising A/D.

So another 2 nice swings to put some money in the bamk.

I would suggest (allowing for sb's) 15pts on the down move and
10pts on the up move. (I would not have recommended
pyramiding as the consolidation came to close to the close of day.)

Perhaps 20/25 pts ?

If you had left it open till later it would have been more, but that's another story ?

Hope that is what you had in mind .

 

[jonnyy40]

Very kind,thanks.

 

[Hooya]

Most of the gurus changed their minds to the downside over the last few months but no doubt thet will claim a victiry when 10k gets hit .lol

something that does worry me is my 60 min chart, I have drawn a trend line across the two peaks as in Mully's chart but my trendline is now under 4400 where as yours(Mully) is above?

 

[bonsai]

UK MOVING UP EURO POVERTY LEAGUE
Britain may soon move out of the bottom
of the European poverty league because
of "real progress" by the Government
since 1997, experts have said.

The latest figures suggest poverty has
dropped below levels of the early
1990s, but progress has been slower on
education and regional inequality.

The report, by the Joseph Rowntree
Foundation, found poverty has largely
dropped because more people are in work
--------------------------------------------------------------------------------

The mind simply boggles !
How can a country like this with our history and inventiveness
ever get to the bottom of a 'poverty' league ?

Unbelievable.

 

[Hooya]

advance decliners on the up

 

[fotheringham]

Dow high not set on significant volume.

I still don't think the FTSE will see 4400 this week but I accept a betting man would no doubt give very large odds on me being correct now.

Edit - large odds rather than small !

 

[qaza]

The report, by the Joseph Rowntree
Foundation, found poverty has largely
dropped because more people are in work
--------------------------------------------------------------------------------

In other words ...........more people are working so the community has more money

Wonder how many experts it took to work that one out

 

[The General]

Go short FTSE, long USD. 2 great tips lads (and lasses).

Rgds,

The General.

 

[Hooya]

well 92 gap, nearly filled. that trendline still is looking possible currently 4407 ish

 

[bonsai]

qaza
you probably hit it right on the nail.

a lot of bureaucrats mistaking 'activity' for ' productivity' ?

 

[bonsai]

hooya

you havent moved that original trend line have you ?

lol

 

[Hooya]

no, just have it on the line and bar chart,I use the bar as the extreme and the line as the average.

 

[jonnyy40]

Blair was the Labour Party representative at a school 'politics day' at my old school in 1983.He was full of passion and obviously very clever.At days end a lot of us thought we'd seen a future Labour leader.Where did all that promise go?