FTSE 100 - March

[jonnyy40]

Seems to be building a base?Out until it breaks.

 

[Hooya]

An in the words of Mel Gibbson " Pivotus Maximus" lol

 

[bonsai]

morning
d/t from 550 is at 346
conservative traders will have closed now

 

[jonnyy40]

I'll have to start puting thepivot points on the chart.Do they often produce?

 

[mully]

Action to day has taken on a 3 wave pattern. ie not impulsive.

3 waves is therefore a corrective pattern.

Therefore, assuming that we are now in wave(b).

 

[mully]

The working assumption is that the three waves up is either a complete Zigzag or Wave A. If this move is a only wave(A) it is probably the start of a complex sideways correction.

The move from late Wednesday could be a larger wave (4).

 

[bonsai]

you could be right mully. I can count 5 legs to the high today.

but that trend line seems to be in play at the moment.
(it could yet be a serious rally formation.)

but if it breaks then it may be worth chasing.

 

[Hooya]

Jonny...worth calculating the pivot point.. Comes into play nearly every day. For the S and R levels around it it all depends how you trade them so you can make them up and they will still be useful or useless

 

[bonsai]

for anyone who is interested.
FTII is the symbol for FT30

<img src="http://ichart.yahoo.com/z?s=^FTII&t=3m&q=c&l=on&z=l&c=^ftse&p=s">

<img src="http://ichart.yahoo.com/z?s=^FTII&t=3m&q=c&l=on&z=l&p=s">

 

[bonsai]

anyone not receive their 2 copies of Traders Mag ?

if you want one, let me know.

 

[Hooya]

no I havent had any for ages..last one was in Jan I think??

why is the US so strong??

 

[bonsai]

US or US$ ?

 

[Hooya]

The dow/ spx etc

 

[bonsai]

je ne sais quoi

 

[Hooya]

nearly identicle indicators led to a 40 point drop in then FTSE today but US is flat depite looking exactly the same and the FTSE down. £$ hasnt moved that much so a bit confused? Must be US being silly

 

[bonsai]

Dow doesnt look all that strong on my daily (4.30)
$ had just got stronger when I read your post.

 

[Hooya]

..Have a nice weekend ....

 

[Hooya]

doesnt looks that strong but doesnt want to go down either???

 

[barjon]

bonsai

ss have updated ftse30

 

[bonsai]

Hope you all went short for the pull back to the trend line.
You needed to, it was the only decent trade of the day ?

Here is my chart at the moment.
A bundle of numbers for you to look at as well. You may notice that the key figures are all Fib / Gann type numbers.

Eyes down, for the last week of the first quarter.
Year end was 4476, so somebody will want to play the Bonus game (if they can get away with it ?)

watch out for 4400 if we get there ? Still looks tricky.
and then 4460.

on the other hand ........