The FTSE 2007

[FetteredChinos]

FC - I'm not jumping in yet........... but good of you to caution me.
I just think that Ftse getting stretched.... near term.

I'm not telling market to go down ....... I just know it only has so much "Energy".
We'll see...

Cheers

yeah, its all a question of timescale..

ignoring the first of the month tendency, which we are now past, i favour a slight sideways to very slight down until about 7th/8th feb, then a fairly decent correction before normal service resumed into march,

 

[catracho]

Looks like one could short the FTSE with a stop just above 6340...target 6100-6000 ish...
A break above 6340 could mean new highs as long as it is a convinving break.(.ie not a false one day thing )-6500-6600..HOWEVER the bearsih divergences seem to point to a weakening uptrend...(also the case for many of the major indices)..

chart attached

looks like we have broken out of the range , long now with a trailing stop loss..looking for FTSe to get to 6580, now back in step with the other indices...though this "feels" like we are in important top formation mode !!

 

[smccreedy]

FTSE looking weaker to me and US rises from the lows look more like low volume bear traps than broad based rallies to me, I'm never convinced when they gap so high at open then only move around 40 points higher from there.

This doesn't feel sustainable to me and it's starting to look too obvious that the only way is up that sooner later it will catch most people out by going down.

Only thing missing, and I can't believe we can end a bull run without it, is that over the top buying capitulation where every bear runs for cover at any cost only to see the end of the day move lower.

The Dow looks like it's rolling over but everytime I wait for it to fall a little before selling it I'm just playing right in to the hands of the buyers who come in at those levels.

I think staying long and buying cheap puts that now look crazy but soon might seem reasonable, perhaps 6000 puts for June might be an idea. I get a feeling the market won't go and stay down this side of March.

All that said it it's above the 10sma I'll be looking for intra day lows to buy, if it's belowI'll be looking for intraday highs to sell.

Stephen McCreedy

 

[curexa]

Hi

FTSE did start a smaller correction as of Friday. It did it's crown or head and
shoulder formation. It also made a ABC wave that should give us a hit at 6400
as of Monday. To be technically 100% right it should test 6430 level one more time
before down to 6400.

Thanks,

Daniel

 

[Bez]

I have an intermediate delta point on the FTSE for the 16th so you should get some downward pressure for a few days...

Higher frame is still up though.....

 

[fibonelli]

Negative divergence in volume indicators as well as some of the oscillators. Intra day low just above 23.6% fib retrace of 6291.5. Expecting 50% fib retrace to 6324.50 just like Nov06.

 

[catracho]

Negative divergence in volume indicators as well as some of the oscillators. Intra day low just above 23.6% fib retrace of 6291.5. Expecting 50% fib retrace to 6324.50 just like Nov06.

would you be able to post a chart ?
Thanks

 

[catracho]

Well we got the correction yday; now with PM's and oil rallying should give some support to FTSE; any further correction should stop well short of the break out above 6340 (cash); as long as US mkts hold up, I would think we test 6450 sooner rather than later...

 

[bawukr]

Ftse

For interest I can offer two long-term variants of movement of an index

 

[bawukr]

Today FTSE tested first daily resistant on 6413 and close market on daily centre 6382.
I think that we can test 6340-30 or lower, tomorrow. After opening it will be visible better.

 

[bawukr]

Today levels

R3 : 6451
R2 : 6444
R1 : 6407

Center : 6389

S1 : 6363
S2 : 6345
S3 : 6318

FTSE has opened ambiguously, but closing of hour below the center 6389 can lead to rally down to S3 on 6318. More probable purpose 6340.

 

[kriesau]

Dormant ?

Is this thread now dormant ?

 

[10pips]

[deleted comment]

 

[watson]

We are in May 2007, February 2007 was the last input? come on traders, liven up this thread.

FTSE100 current indication is 6476 (11 May 2007 @ 9.23am)

Am expecting FTSE100 to finish around 6450 by end of trading, Stupid DOW JONES has full control of our UK Markets!


Wish i was trading now, but am on strict plan, 1 trade a day, and already lost that trade earlier, stopped out @ 6501, and i was SELLING from 8.00am.

*cries*

Well, you weren't far off on your prediction, if that's any consolation!

 

[watson]

It looks slightly weak to me at the top end. Despite the rise, money flow falling and CCI < 100. Any comments anyone?

 

[10pips]

[deleted comment]

 

[counter_violent]

Cannot believe what happened!

started at 6495, plumbed down to 6445, then ended 6570!!

No one can predict FTSE100 on day trading! Unless you got an insider in FTSE-100 that helps out and tells you!

It's a good job trading is not about prediction then is'nt it.

Think more in terms of probabilities, based on what is unfolding on the charts.

c v