The FTSE, Friday 3rd March 2006
Thursday's results:
Close: 5833 down 11pts [0.19%]. And I think the FTSE has been let off likely.
Range: 5803 - 5880.
Last 5 TD: down 2.3pts.
On the month: up 41.6pts [0.71%].
Thursday's DOW:
11,025, down 28pts [-0.25%].
Last 5 TD: down 43pts [-0.39%].
On the month: up 32.1pts [0.30%]
Thursday's S&P 500
1289.14, down 2.1 [-0.16%]
News items of note:
FT.com - 'London equities lost intraday gains to close under the flatline on Thursday, as moves to increase eurozone interest rates raised the question of rising inflation within the EU.
A lower start for Wall Street indices added to the downside, but UK markets did not fall as far as European bourses inside the single currency.
The European Central Bank’s move to increase eurozone interest rates by 25 basis points to 2.5 per cent came in line with expectations, but led some investors to predict further inflationary pressure.'
Charts, and nothing but the charts: Thursdays dictated a rise by end of play. Friday's indicate a rise.
The PoM System: +3, interpretation: a rise.
[The PoM system is a mathematical formula that determines the markets direction. A plus or minus indicates the likelihood and strength of the market going up or down.]
Companies reporting:
Avis Europe
British Airways
JD Wetherspoon
Economic Data:
None.
The FTSE tomorrow based on present news and data: the FTSE was dragged lower today by the butter fingered DOW and so tomorrow morning has already been factored in; historicaly, Fridays have odds of 2/1 of rising; company results and ecomomic data will play no particular role tomorrow; charts and PoM system both indicate a rise allthough small;
Areas to watch: Oil.
Early gut feeling: a minor rise by end of play.
Will I bet? Went long with the DAX prior to market closing; tomorrow, for the FTSE, I'm not overly confident so I'll sit on the fence.
If you are betting: make your own decision, watch the markets open and do read the news for clues as to which way the FTSE may go.
Yours
UK
Thursday's results:
Close: 5833 down 11pts [0.19%]. And I think the FTSE has been let off likely.
Range: 5803 - 5880.
Last 5 TD: down 2.3pts.
On the month: up 41.6pts [0.71%].
Thursday's DOW:
11,025, down 28pts [-0.25%].
Last 5 TD: down 43pts [-0.39%].
On the month: up 32.1pts [0.30%]
Thursday's S&P 500
1289.14, down 2.1 [-0.16%]
News items of note:
FT.com - 'London equities lost intraday gains to close under the flatline on Thursday, as moves to increase eurozone interest rates raised the question of rising inflation within the EU.
A lower start for Wall Street indices added to the downside, but UK markets did not fall as far as European bourses inside the single currency.
The European Central Bank’s move to increase eurozone interest rates by 25 basis points to 2.5 per cent came in line with expectations, but led some investors to predict further inflationary pressure.'
Charts, and nothing but the charts: Thursdays dictated a rise by end of play. Friday's indicate a rise.
The PoM System: +3, interpretation: a rise.
[The PoM system is a mathematical formula that determines the markets direction. A plus or minus indicates the likelihood and strength of the market going up or down.]
Companies reporting:
Avis Europe
British Airways
JD Wetherspoon
Economic Data:
None.
The FTSE tomorrow based on present news and data: the FTSE was dragged lower today by the butter fingered DOW and so tomorrow morning has already been factored in; historicaly, Fridays have odds of 2/1 of rising; company results and ecomomic data will play no particular role tomorrow; charts and PoM system both indicate a rise allthough small;
Areas to watch: Oil.
Early gut feeling: a minor rise by end of play.
Will I bet? Went long with the DAX prior to market closing; tomorrow, for the FTSE, I'm not overly confident so I'll sit on the fence.
If you are betting: make your own decision, watch the markets open and do read the news for clues as to which way the FTSE may go.
Yours
UK
SirFrancis
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Peter6 said:
Hi Peter, thanks for giving us your view.
Could you tell us how you have come to this conclusion, I cannot see such a significant rise today.
Thanks again
SirFrancis said:
It is simply based on a proprietary model of the markets that I developed and recently refined. Sorry but nothing more complex or collabarative.
I am new to full-time trading and the model is not entirely satisfactory (see post of yesterday where I expected a close either side of the previous close but turned out to be (11) which maybe good but not enitely satisfactory). I hope to refine the model further and providing no-one objects, would like to continue with brief postings to indicate my conclusions as much for my benefit as for anything else.
SirFrancis
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Peter6 said:
I certainly appreciate your input to the discussion - one important aspect of indices trading is that you are not required to lose in order for me to win, so sharing information benefits us all.
I'll keep my eyes open for your future posts.
Interesting debates developing here. I trade the indices and am a keen fan of UKhero.
I do not follow his words implicitly but use them as a tool for my own analysis.
Yesterday was flat and I did not trade, so far today, one system tells me that 55 was an entry (long) but Camarilla shows this to be resistance, confused so did not trade, yet.
Interestingly, we have risen around 20 to hit resistance at 55.
Lets see what develops. I feel sitting on the hands might just be the most profitable strategy today.
Good trading to all,
Dave
I do not follow his words implicitly but use them as a tool for my own analysis.
Yesterday was flat and I did not trade, so far today, one system tells me that 55 was an entry (long) but Camarilla shows this to be resistance, confused so did not trade, yet.
Interestingly, we have risen around 20 to hit resistance at 55.
Lets see what develops. I feel sitting on the hands might just be the most profitable strategy today.
Good trading to all,
Dave
downbytheriver7
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Morris said:
Ummm....well I am scaling short positions here upto 5872, possibly across the DAX and CAC also if they squeeze upwards somewhat. A break of 5840 would confirm the downside for me.
downbytheriver7
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downbytheriver7 said:
Nice, closed the short 5810 and looking for another bounce to short again or might go flat over the w/e.
downbytheriver7
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downbytheriver7 said:
yo yo day or what - short again @ 5846
downbytheriver7
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dooby12 said:
looking a bit bullish now or some w/e short covering going on so i might be tempted to take my loss and go flat.....that or a last minute sell off if the DOW gets some traction to the downside.
