FTSE100- June

[mully]

Bracke can i repost my earlier comment re volume

"Focusing on price and volume doesn't mean analyzing every single bar pair. Nor does it mean obsessing over the volume trend. A lot of people, for example, think that volume has to be consistently rising in an uptrend that's not the case. As long as price is rising, the demand/supply equation is working in your favor, regardless of what the volume is doing. It's only when you begin to see shorter bars, and longer tails and little Trend Line breaks and support/resistence that you need to become concerned. And if volume doesn't come in accompanied by a higher price, then you may have a problem. If volume does come in and price just sits there, then you're looking at distribution, and you may want to say bye."

 

[bracke]

mully

Thank you for your explanation

I see another reason/excuse for another early finish. Don't eat too much jelly etc you know it's not good for you.

Regards

bracke

 

[mully]

Bracke,

remember also to monitor price action after the large volume and not just the actual volume/price bar..

Nothing much happened

implying probably a large agency cross (matched buyers/sellers)

 

[bracke]

mully

"And if volume doesn't come in accompanied by a higher price, then you may have a problem. If volume does come in and price just sits there, then you're looking at distribution, and you may want to say bye."

Can you give a little more explanation to the above please?

Regards

bracke

 

[bracke]

KJH

I can't find out what the es-mini is. I know its an indices but of what?

Regards

bracke

 

[KJH]

KJH

I can't find out what the es-mini is. I know its an indices but of what?

Regards

bracke

Bracke
S&P500 Mini (ES) contract traded on GLOBEX. Underlying S&P 500 index.
$50 USD per point verses the S&P500 contract, traded on CME, at $250/ point
ES trades in 1/4 ie 12.50USD
VERY Liquid contract and trades almost 24hrs, 5 1/2 days although the night session is thin.
KJH
ps Options on the S&P 500 are SPX traded on CBOE

 

[bracke]

splasher

Have moved my stop to 4525. Just in case dow takes off and no interest rate increase.
The June contract closes next week and there would be little time for a reversal if it goes up.

Regards

bracke

 

[KJH]

Well, I'm off to bed. 11.15pm here and I've had enough of this flu. Mind you I never posted so much even with the lousy head!
Wonder if the Americans are going to hold the market down into the UK close then rally...
or sell off properly after the Europe closes?
You boys short should be happy with what is happening at the moment !
Catch you all next time...
KJH

 

[bracke]

KJH

Thanks for yor explanation.

If you spread bet, is there any real difference between the es-mini and the main S&P indiices?

"Wonder if the Americans are going to hold the market down into the UK close then rally...

or sell off properly after the Europe closes?"

This remark has alarmed me. Is it possible that an attempt will be made to close out the stops on the shorters!!!!!



Regards

bracke

 

[KJH]

KJH

Thanks for yor explanation.

If you spread bet, is there any real difference between the es-mini and the main S&P indiices.

Regards

bracke

Sorry, I know nothing about spread betting, other than the spreads look too wide for me !
I assuming you speaking of CMC ?
The ES and big contract (S&P500) trade pretty close. I only follow the ES but when I was watching the other it would only get out of line by 1/2 point or so before realigning. Probably due to stops on the ES being run/hit
Cya
KJH

 

[bracke]

KJH

Hope flu improves, Good Night.

Regards

bracke

 

[Hooya]

I have now closed my shorts that i mentioned yesterday. Just thought it was right to let you know

 

[alliance]

Bracke

I too went short @4509 yesterday.....moved my stop to b/e now tho ...just in case!

 

[splasher]

Bracke are you using spreadbets or futures? I guess spreads with your overnight stops?

 

[splasher]

Just got back and disappointed that my 4483 bid was a touch too greedy and didn't get hit......so on to tomorrow

 

[mully]

Morning all,

Bank of England interest rate decision to-day

Remember US equity markets closed tomorrow (might dampen UK trade to-day)

Yesterday, Trendline and 1day SMA both breached.

1day SMA also turned down.

So negative bias.

Potential areas of support for FTSE100 (red lines on attachment 1)

4476/80 previous FTSE100 support

4470/2 old multi highs in May

Also FIb levels from 3rd June (4401-4415) (brown dotted lines on attachment 2)

38% 4471
50% 4458
62% 4445

Fib levels from move from 17th May (4363-4515)

38% 4457
50% 4439
62% 4421

I have highlighted the multiple 4458/7 level.


Nikkei +1.10%
D4F FTSE100 quote 4485/9 -2 points.

 

[mully]

FTSE 100 volume

Also note how, over the last 5 days, late afternoon volume saw FTSE rally .
However, yesterday, late afternoon volume produced the setback.

Change of sentiment?

Note also how trendline from 3rd June acted as an attractor yesterday for the FTSE 100.

 

[steve34]

Morning
Just wanted to post a quick thankyou to all you guys on this thread.
Having just recently started trading I find all your comments charts etc most informative and they are helping me no end in confirming my stratergies........or not!!!
once again thanks
steve

 

[KJH]

Good Morning all
Good posts Mully
another quickly.
Last 2 days as mid point consolidation?
See chart =daily
Gott a run back later...
KH

 

[barjon]

mornin' all

mully - afternoon volume after the us open (2.30 onward) is generally much heavier and the price action usually reflects what's happening over there? So far as sentiment is concerned we're maybe still on the positive side while staying above 472 on the basis that this tested resistance level (broken with a bang via a gap) should now give support?