FTSE 100 - March

[mully]

FTSE100 now back to test the 4400 level again. Will it be second time lucky?

 

[mully]

Here is the FTSE 100 chart

FTSE 100 back to the bottom of its trading range over the last few days.

 

[Finirama]

Hi Mully,

I make that a 5 wave down so expecting an a-b-c retracement maximum of 4,438 retracement (top of wave 4)??

 

[bonsai]

hello everyone

bad news.
he didn't make it I'm afraid.

there is a lot to attend to, so may still be away for a while.

 

[bonsai]

I have received this e-mail which may be of some interest?

 

[FetteredChinos]

Im really sorry to hear that Bonsai. you and all those parties concerned have my sympathies and condolences


FC

 

[waytogo]

very sorry to hear that Bonsai

 

[Fluke]

Bonsai.
Me too, keep your chin up.
Kind regards
.Jon

 

[barjon]

Bonsai, sorry to hear the news, sympathies to your family.


Anyone still looking in may be interested to see that yesterdays
fall was halted by the base support of the long up candle
(although the previous one only held it up for two days). If we're
due for a bounce the first hurdle (R1) is at 428 and we've already
stalled around there once today. Interestingly R2 resistance from
the top of the long down candle is almost smack on fib50%
resistance so provides a double fence to jump.

 

[Hooya]

how are you calculating R1?

 

[goostrey]

Barjon

Sounds thou you have been at Cheltenham all week with your double fences and hurdles.

R1 must be calculated on the basis of the distances from the paddock to the bookies and the bars.

 

[barjon]

just from the long candle - resistance/support tends to occur at
the middle of long candles or at the top/bottom of the entire
candle.

 

[Hooya]

ohhh so its not a pivot point calculation

 

[barjon]

goostrey



Well if ftse can jump as well as Best Mate we might all be running
to the winners enclosure

 

[barjon]

ps - a second stall near R1. Is it near a pivot point then?

 

[Hooya]

no thats why I asked

 

[goostrey]

My trading recently has been more like a 3 three legged donkey so my analysis must be taken with a large dose of salt

I suspect that we might test 4380 again in the short term, as this mornings option expiration looked very weak, and then hopefully we will get some form of bounce.

 

[Fluke]

What time did the options expire this morning and what effect will it have today.Any one know .

 

[anmolway]

Fluke I was told it was 10:20-10-30 at which time the volatility was high.

 

[goostrey]

expiration here in UK was 10.15-10.30 and it caused very little effect at the time. Occasionally it can be volatile. Often you find that the funds and/or speculators push the index one way or the other to try and get the best out of the positions they hold. Sometimes there is a sharp move afterwards as things return back to normal.

Recently the number of times this has been happening has reduced, possibly because stock options also now expire at the same time. (used to be on the Wednesday). This is just my opinion.