FTSE 100 January

[mully]

Bonsai,
Any chance that I can pop round and have a google at your hot crumpets. Given there are many, no problem sharing I presume. Hope all are unattached, but do not tell my wife.

 

[mully]

Bonsai,

PS: are they the reward for being MOM!! Talking of member..... I better stop there or I will get banned!

 

[Hooya]

the 1 hr is working treat on the US tonight Bonsai...so far

 

[bonsai]

lol
but cool nerves after 7 ?

and out at 8 ?

 

[Hooya]

looked good for the first two moves of the day but unfortunately
didnt really have and confirmation during the later part of the evening.


FTSE range bound again today???

 

[Hooya]

todays range maybe?

 

[Hooya]

any thoughts anyone or has everyone started their weekend
early

 

[hungrybear]

I'm thinking the Ftse may break upward later today. The Dow/SnP seem to be in an impulsive wave up again and I expect th ftse to do the same. The waves look corrective off the high, which suggests a break up, at some point.

 

[mully]

FTSE250 still giving very clear impulsive message, despite the shenanigans of the FTSE100

 

[Hooya]

it is but still something doesnt seem right. must be the
£/$ situation but why isnt it effecting the 250 as much?

 

[Hooya]

at my trendline and R2 at 76...overbought 1 min time frame but the rest are useless at the mo. So either fall or pause here before
a move up imo


although I have to admit my 60 min chart seems to be rolling over to the upside but that could be just because of the sideways
action...so not much to go on really

 

[mully]

Hooya,
Think about the constituents of both indexes and you will find the answer.

The FTSE250 is much more UK orientated
and cyclical in nature compared to the FTSE100.

FTSE100 is dominated by a very select number of stocks:
Vodafone: £100bn
BPAmoco: £96bn
HSBC: £96bn
GSK: £73bn
RBOS: £49bn
AZN: £44bn
Shell: £36bn
Barclays: £34bn
HBOS: £29bn
LloydsTSB:£26bn
Diageo: £22bn

You will note that there is a
very high exposure to global
businesses and the dollar
(which will lead to reduced
reporting of dollar earnings
when translated into sterling.)

Secondly, they are defensive (earnings) in nature.

Thirdly, both oils and Pharmaceuticals
have been bad performers
(because of the dollar earnings risk?)
So until both sectors gain positive momentum
it will be hard for FTSE to show any performance relative to FTSE250.

 

[Hooya]

thanks

 

[Hooya]

if i get a macd cross I might go with this lets wait and see what happens

 

[neil]

what chart package you using Hooya please?

 

[Hooya]

advfn browser based charts

 

[bonsai]

all looks very corrective still ?

any important news today ?

 

[Hooya]

industrial production, consumer sentiment

http://www.companyboardroom.com/highlight.asp?date=20040116&client=cb

 

[bonsai]

lol

no trend reversal likely then !!

 

[Hooya]

77 is my 50% fib for the move off the highs with 87 the 61.8% which is also my R3 for the day. I will be surprised if we breached
that today especially as in the 60 min chart it looks like a flag.

Quite interesting to know that the candle and line chart (60min) produce roughly the same fibs...abit unusual