Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders

[wallstreet1928]

Good Morning ............what a game last night, Pakistan beat South Africa!!

market will fall initially and then I will look to go long

market has built a support around the 4250 level and we will be trading back above 4300 today

Reason :

1. oil holding steady and remains above $70

2. currencies stable - Euro holding 1.385 and GBp holding 1.625 level

3. VIX is showing weaknes and prducing lower highs & lower lows

4. Nasdaq which is the market leader so S&P is holding 1450-1440 support level really well

5. UK stocks seem to be stabilising and holding suppprt levels .....look at barclays and Legal and genereal for example!!

Chart below is 1 hr month.................downtrend line was broken yesterday!!

I believe we will test the support and then trade back up above 4300

 

[andresj]

good summary wallstreet -- a doji candle yesterday on the 1 day ftse chart and bullish divergence on macd would be further supporting signs of an imminent rise. strong direction of the ftse in the first few bars seems often to be a good clue of the opposite direction playing out, in the AM at least.

 

[traceyjc]

Morning all!

Word to the wise, it's Quadruple Witching day today. This means that ALL options expire today and there's a rollover on the June equity future contracts. There's going to be a lot of volatility with people hedging/rolling over contracts/meeting option requirments, I would'nt stay in trades too long as some big funds are bound to come in and buy/sell with BIG size. If you're up, take it!

 

[wallstreet1928]

Market Techncal Analysis - Financials Strong Early, Then Commodities Pop - 06/18/2009

YouTube - Market Techncal Analysis - Financials Strong Early, Then Commodities Pop - 06/18/2009

 

[dr.blix]

morning all, thanks for sharing your analysis WS.

asian markets up.

bearish osc div on these last 2 out of hours peaks, although the drop it signalled my have already played itself out.

 

[dr.blix]

thanks for that heads up btw trace

 

[dr.blix]

i've shorted this bearish osc div

short @ 4296

 

[dr.blix]

i've shorted this bearish osc div

short @ 4296

closed for + 10 pts

 

[lapalabra]

closed for + 10 pts

Gap fill resistance 4285

EIDT: and through...go go go...next stop pivot @ 4275, calling this the morning bottom

 

[kaisen]

closed for + 10 pts

Did the same trade but closed for 6pnts!

Just look what we did!

 

[dr.blix]

blimey, wish i still had that open, never mind.

i was looking at old channel lines as res and not my S+R levels.

btw i will post that chart at some point for you kaisen...just not got round to it yet.

 

[dr.blix]

could i just forward an almost pointless motion to the 'WS thread committee' that we all get avatars:?:

 

[andresj]

Long FTSE 4285 Stop 4277 Target 4300

 

[dr.blix]

Did the same trade but closed for 6pnts!

Just look what we did!

i know, gave away another poss 8-9 pts for me...but hey, shame we didn't get onto that key reversal too

 

[kaisen]

i know, gave away another poss 8-9 pts for me...but hey, shame we didn't get onto that key reversal too

I´m always extra twitchy for the first 15-20 mins!

 

[wallstreet1928]

Good Morning ............what a game last night, Pakistan beat South Africa!!

market will fall initially and then I will look to go long

market has built a support around the 4250 level and we will be trading back above 4300 today

Reason :

1. oil holding steady and remains above $70

2. currencies stable - Euro holding 1.385 and GBp holding 1.625 level

3. VIX is showing weaknes and prducing lower highs & lower lows

4. Nasdaq which is the market leader so S&P is holding 1450-1440 support level really well

5. UK stocks seem to be stabilising and holding suppprt levels .....look at barclays and Legal and genereal for example!!

Chart below is 1 hr month.................downtrend line was broken yesterday!!

I believe we will test the support and then trade back up above 4300

so we got the initial fall as forecasted

now we are holding 4270 level really well!!

 

[andresj]

Long FTSE 4285 Stop 4277 Target 4300

Closed at 4290 for +5

 

[SuperDriveGuy]

Hi GMorning All,
I trade the FTSE Z futures and they are trading at a 30 point discount to the market!

I am newbie, so any views on this will help.
Thanks

 

[dr.blix]

we've got a max 30 pt trading range so far.

DP is 4292

 

[traceyjc]

The FTSE has been in backwardation (future<cash) for some time now, it's a lot to do with dividend pay-outs and so on. You can arbitrage it with a FTSE ETF or some other product but a lot of people do it so you'd need to be fast and sharp!

And in case you didn't know, the contract goes from Z M9-EEI to Z U9-EEI today so don't trade the M contract!