The link provided by Hooya is the Yahoo 5 day chart. If you look at this chart and compare to-days volume with th volume shown on the 1 day chart you will see it is completely different.
Good morning all.
Thursday 9.30 am
Attached chart is 5 min.
Quick round trip...
Has the index put in a lower high?
Ma's have caught up and if the support lows of 4482-5 break they'll be pointing down...
The next scenario is a consolidation that could become a mid point for the next (measured ?) move up....
Today could just end up consolidating yesterdays move before the next leg, up or down commences. Then you can throw in tomorrows option expiration--but I suspect most of that action has already taken place....
Thoughts/ comments ?
Regards,
KJH
FTSE futures seem to be struggling to move further north but with rollover activity taking center stage it's a tough call. I'm favouring a short here with a target of 4471 for Sep FtSE, stop at 4530.
Short at 4503 average with stop -27 points and target +32 points.....................why?
Current tight range could hold but if breakout occurs it will be powerful..............
Splasher ok 503 is different,,still wouldnt have that big a stop but thats a personal choice. BUt at 3:49 when you posted the market was at 490....40 point stop for 20 poinst seemed silly...
ftse is holding above yesterdays close of 4493, which surprise. surprise was also the pivot produced by yesterdays figures. Each day this week has produced a higher pivot namely 4449, 4451, 4485, 4493.
Perhaps someone would care to comment on the significance, if there is one.