Good morning
With the markets approaching the year end I don't have much to add on top of yesterday's email. With very little news coming out today we may be in for another quiet and flat session whilst we await the start of 2011 trading.
I have attached yesterday's email for new subscribers.
We have a small target at 5984 which should fill today (current market is 5996) and a large target at 5914 which we will target for early 2011.
There is a slim chance we will reach 6100 before we hit 5914 but I do not see any further up side beyond 6100 before 5914 is reached. The preference is therefore on the short side.
This will be my last email for 2010 and normal trading alerts will commence on the 4th January.
When I met Mark I was enormously impressed with his FTSE trading abilities, so much so that I decided to recommend him to my clients. John Piper
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Thursday, December 30, 2010
Wednesday, December 29, 2010
Mark Austin FTSE Trading Update - 29th Nov 2010
Good morning
I hope you all had a pleasant Christmas period.
The FTSE has achieved 6000 and in one go. The final burst was based on low volume and its a big reason I don't trade the Christmas period as the market ignores normal behaviour patterns. A normal market does not move up in a straight line.
With a few days until the year end I don't anticipate the markets reacting to over bought conditions just yet. Fund managers will be keen to finish the year on a high.
Wednesday, December 22, 2010
Mark Austin FTSE Trading Update - 22nd Dec 2010
Good morning
The FTSE is making new highs but its currently on the back of very low volume. See below.
Date Open High Low Close Volume Adj Close*
Dec 21, 2010 5,891.60 5,953.90 5,891.10 5,951.80 541,859,600 5,951.80
I expect decent decline after this over extended move and this may come in on the first trading week of the new year.
In the meantime the FTSE has a strong target at 5915 which will fill over the next few trading sessions. The FTSE is currently trading at 5953. Once this has been reached the FTSE may drift higher during the holiday period.
The FTSE is making new highs but its currently on the back of very low volume. See below.
Date Open High Low Close Volume Adj Close*
Dec 21, 2010 5,891.60 5,953.90 5,891.10 5,951.80 541,859,600 5,951.80
I expect decent decline after this over extended move and this may come in on the first trading week of the new year.
In the meantime the FTSE has a strong target at 5915 which will fill over the next few trading sessions. The FTSE is currently trading at 5953. Once this has been reached the FTSE may drift higher during the holiday period.
Tuesday, December 21, 2010
Mark Austin FTSE Trading Update - 21st Dec 2010
Good morning
The FTSE will open higher today and the key point at this stage is whether 5900 can hold.
Prices have entered into the 5900 range on several occasions but failed. Today there are signals indicating a retest at 5900. I would go short for this target if it wasn't Christmas week.
Once a retest occurs the FTSE must not have acceptance under 5900. Otherwise, the target at 6000 will be compromised and we may get a deeper correction before this is due. We have a camarilla break out level at 5965 which if broken will also confirm a short term top is in place.
Trading Opportunities
5900 will attract even if we head higher first. If you are trading this week use low leverage.
If I see something very obvious I will issue an alert but it has to be fairly concrete given my report yesterday regarding low volume
--
The FTSE will open higher today and the key point at this stage is whether 5900 can hold.
Prices have entered into the 5900 range on several occasions but failed. Today there are signals indicating a retest at 5900. I would go short for this target if it wasn't Christmas week.
Once a retest occurs the FTSE must not have acceptance under 5900. Otherwise, the target at 6000 will be compromised and we may get a deeper correction before this is due. We have a camarilla break out level at 5965 which if broken will also confirm a short term top is in place.
Trading Opportunities
5900 will attract even if we head higher first. If you are trading this week use low leverage.
If I see something very obvious I will issue an alert but it has to be fairly concrete given my report yesterday regarding low volume
--
Monday, December 20, 2010
Mark Austin FTSE Trading Update - 20th Dec 2010
With Christmas week upon us I expect low volume trading which is always a hazard to normal strategies and systems. The other period to watch out for is the last 2 weeks in August where similar conditions arise. I will therefore introduce the new morning market alerts on the first trading day in January.
The feedback for the new enhancement has been very positive and with testing out the way I will prepare the manual for the new year. The service will be sold separately but as existing subscribers to the Mark FTSE Service you will receive this free: A couple of points to note:
All targets were met for the last 2 weeks of testing which shows the validity and potential of this for you. The average target distance for the 2 weeks was smaller than usual but this is more down to market conditions. By this I mean indices are currently range bound. Some of my system targets can be 100 points plus.
The feedback for the new enhancement has been very positive and with testing out the way I will prepare the manual for the new year. The service will be sold separately but as existing subscribers to the Mark FTSE Service you will receive this free: A couple of points to note:
All targets were met for the last 2 weeks of testing which shows the validity and potential of this for you. The average target distance for the 2 weeks was smaller than usual but this is more down to market conditions. By this I mean indices are currently range bound. Some of my system targets can be 100 points plus.
Friday, December 17, 2010
Mark Austin FTSE Trading Update - 17th Dec 2010
Good morning
Another quiet evening across global markets means the FTSE will open flat again and provide no opening opportunities.
Today is triple witching for the FTSE and this is when options and futures expire. As I mentioned a few days ago, this event will take place between 10am-10.15am and usually creates a large buying or selling spike which is then almost always retraced. These spikes are far more obvious than normal expiry as futures are included. Its also worth noting that trading activity is far more volatile on the days after expiry as opposed to the days leading up to expiry. With that said we do have Christmas around the corner which will result in quiet activity but I do expect a couple more high volume days. The volume this week has been non existent.
Another quiet evening across global markets means the FTSE will open flat again and provide no opening opportunities.
Today is triple witching for the FTSE and this is when options and futures expire. As I mentioned a few days ago, this event will take place between 10am-10.15am and usually creates a large buying or selling spike which is then almost always retraced. These spikes are far more obvious than normal expiry as futures are included. Its also worth noting that trading activity is far more volatile on the days after expiry as opposed to the days leading up to expiry. With that said we do have Christmas around the corner which will result in quiet activity but I do expect a couple more high volume days. The volume this week has been non existent.
Thursday, December 16, 2010
Mark Austin FTSE Trading Update - 16th Dec 2010
Good morning
The FTSE will open flat this morning so no opening opportunities I'm afraid.
We have a potential failed retest at 5900 which could attract some selling today. Certainly another failed retest at the open would re-enforce this.
In terms of trading opportunities, as we have expiry tomorrow and market action can be very erratic the day before.
To get access to the complete email as well as my ftse trading opportunities you can sign-up at my website.
The FTSE will open flat this morning so no opening opportunities I'm afraid.
We have a potential failed retest at 5900 which could attract some selling today. Certainly another failed retest at the open would re-enforce this.
In terms of trading opportunities, as we have expiry tomorrow and market action can be very erratic the day before.
To get access to the complete email as well as my ftse trading opportunities you can sign-up at my website.
Wednesday, December 15, 2010
Mark Austin FTSE Trading Update - 15th Dec 2010
Good morning
Fairly muted action FTSE trading this week with prices creeping higher but staying in a tight range. This action is typical leading up to expiry which is on Friday. I pay particular attention to the quarterly expiry's as this is when options and futures expire at the same time. Also known as triple witching. For those of you who can watch your screens between 10am-10-20am (Friday), triple witching usually creates a large buying or selling spike which is then almost always retraced. These spikes are far more obvious than normal expiry as futures are included. You can also use one touch binaries which expire at 12pm. These are usually cheap given the time frame. If the FTSE is resting at for example 5900 you want to buy a cheap one touch at 5950 and 5850. One of the binaries benefits during expiry due to volatility creating your profit.
Fairly muted action FTSE trading this week with prices creeping higher but staying in a tight range. This action is typical leading up to expiry which is on Friday. I pay particular attention to the quarterly expiry's as this is when options and futures expire at the same time. Also known as triple witching. For those of you who can watch your screens between 10am-10-20am (Friday), triple witching usually creates a large buying or selling spike which is then almost always retraced. These spikes are far more obvious than normal expiry as futures are included. You can also use one touch binaries which expire at 12pm. These are usually cheap given the time frame. If the FTSE is resting at for example 5900 you want to buy a cheap one touch at 5950 and 5850. One of the binaries benefits during expiry due to volatility creating your profit.
Monday, December 13, 2010
Mark Austin FTSE Trading Update - 13th Dec 2010
Good morning
This morning I have attached a graph showing key support for the FTSE at 5720. This area is where the MA 50 and MA 10 lie and as long as we don't close (end of day basis) below this level the FTSE remains bullish. We can see on the graph the MA 50 provided important resistance for the recent correction and during the rally from September the MA 50 provided very strong support on the downside so we must pay attention to these areas.
The Elliott wave count still suggests a move to 5750 (and below) before we head higher. A close above 5870 would compromise this count. With very slow price action within a triangular pattern the FTSE is gearing up for a move. The odds are stacked to the downside at this stage. However, given that we are in a strong uptrend it is best we wait to position long after a correction but we can use morning signal alerts to run short positions.
Thursday, December 9, 2010
Mark Austin FTSE Trading Update - 9th Dec 2010
Good morning
We are currently holding the FTSE weekly binary to finish down on the week.
In terms of analysis the attached chart shows we are tracing out a B wave for wave 2. I still expect the C wave to come in today/tomorrow however the retracement may not be as low as first expecting. This can happen when we are in an extremely bullish environment. Buyers come in and snap up lower prices very quickly. The FTSE may therefore not penetrate 5720. Major support.
Wednesday, December 8, 2010
Mark Austin FTSE Trading Update - 8th Dec 2010
Good morning
The FTSE made a new high yesterday just above 5850. This can be counted as a final fifth of the first wave up from 5518. I am now expecting a short sell off (wave 2). Target 5650. As mentioned yesterday if we had made a new high yesterday and closed above 5825 then my analysis would have been weakened. 5825 was a previous major break out level.
Tuesday, December 7, 2010
Good morning
FTSE trading remains in a bullish trend and the American markets are following suit. Last Friday America received weaker than expected employment data but strugged this off. I have mentioned before that in terms of news I feel employment data (previously very important) will be taking a back seat and the European debt crisis is the main driver at force. Any planned European news and I will use the Tunnel strategy.
FTSE trading remains in a bullish trend and the American markets are following suit. Last Friday America received weaker than expected employment data but strugged this off. I have mentioned before that in terms of news I feel employment data (previously very important) will be taking a back seat and the European debt crisis is the main driver at force. Any planned European news and I will use the Tunnel strategy.
Monday, December 6, 2010
Mark Austin FTSE Trading Update - 6 Dec 2010
Good morning
Following on from Friday's morning analysis, we closed over the MA 20 (5725) on Friday on a weekly basis so this confirms the market is in a healthy uptrend and a break of 5477 (inverted head and shoulders break out) is now unlikely. 6100 is targeted.
If we assume the 4th wave correction form 5902 ended at 5518 we are now in the the final 5th wave. This will be subdivided into 5 waves. Wave one could have ended on Friday at 5794. We will now decline to 5650 or lower for wave 2. We want to position ourselves long for wave 3 which will has a calculated target of 6098.
To get access to the complete email as well as my ftse trading opportunities you can sign-up at my website.
Following on from Friday's morning analysis, we closed over the MA 20 (5725) on Friday on a weekly basis so this confirms the market is in a healthy uptrend and a break of 5477 (inverted head and shoulders break out) is now unlikely. 6100 is targeted.
If we assume the 4th wave correction form 5902 ended at 5518 we are now in the the final 5th wave. This will be subdivided into 5 waves. Wave one could have ended on Friday at 5794. We will now decline to 5650 or lower for wave 2. We want to position ourselves long for wave 3 which will has a calculated target of 6098.
To get access to the complete email as well as my ftse trading opportunities you can sign-up at my website.
Thursday, December 2, 2010
Mark Austin FTSE Trading Update - 2nd Dec 2010
Good morning
After a strong rally yesterday FTSE futures are currently up around 30 points. Its possible an important low is in place at 5518 and the start of a final 5th wave has commenced. Target 6100.
5477 has held so the FTSE is still in a bull trend and the move from 5902 can be counted as a correction (4th wave). Of course this will most likely be a long drawn out event unless we have confirmation the European situation is contained. America has stepped into the limelight and may offer assistance going forward. A positive move but only speculation for now.
From a technical point of view if we have started the wave 5 up this will be sub divided into 5 waves. We are currently in wave 1 and this should end around 5720.
After a strong rally yesterday FTSE futures are currently up around 30 points. Its possible an important low is in place at 5518 and the start of a final 5th wave has commenced. Target 6100.
5477 has held so the FTSE is still in a bull trend and the move from 5902 can be counted as a correction (4th wave). Of course this will most likely be a long drawn out event unless we have confirmation the European situation is contained. America has stepped into the limelight and may offer assistance going forward. A positive move but only speculation for now.
From a technical point of view if we have started the wave 5 up this will be sub divided into 5 waves. We are currently in wave 1 and this should end around 5720.
Wednesday, December 1, 2010
Mark Austin FTSE Trading Update - 1st Dec 2010
Good morning
Yesterday I gave a fairly in depth view on where I see the FTSE heading over the next few weeks.
We are fast approaching major support at 5500-5477. From here price action is key. Its important as a sustained break through 5477 changes the structure of this recent rally and puts the FTSE into a longer term downtrend.
Yesterday I gave a fairly in depth view on where I see the FTSE heading over the next few weeks.
We are fast approaching major support at 5500-5477. From here price action is key. Its important as a sustained break through 5477 changes the structure of this recent rally and puts the FTSE into a longer term downtrend.
Tuesday, November 30, 2010
Free Webinar Service - Ask Mark Austin and John Piper any question you want
I will shortly be launching a new service offering FREE webinars to increase the educational aspect for trading. Knowledge is power in this business so the more you learn the higher your success rate will be.
The webinars will be held in conjunction with John Piper and will centre around what you need answered to help you going forward.
The first webinar will be held in December at 7pm UK time. I will confirm the date very shorty.
To sign up and ask a question please click the below link. Feel free to pass comments on any future products or services that you would find beneficial as well.
All the best,
Mark Austin
Mark Austin FTSE Trading Update - 30th Nov 2010
Good morning
I have had a few emails as to whether the traditional xmas rally will come into play this year. In general this is a positive time for stocks, however at present the Europe credit crisis and the Korean situation is creating allot of stress in the market place. This is explained why we are seeing wild price swings in a narrow price range. Ireland has now been bailed out but there are concerns over Spain and Portugal. There have been comments that Spain is too big to bail out. Until these major problems are resolved horizontal price activity may continue.
I have had a few emails as to whether the traditional xmas rally will come into play this year. In general this is a positive time for stocks, however at present the Europe credit crisis and the Korean situation is creating allot of stress in the market place. This is explained why we are seeing wild price swings in a narrow price range. Ireland has now been bailed out but there are concerns over Spain and Portugal. There have been comments that Spain is too big to bail out. Until these major problems are resolved horizontal price activity may continue.
Friday, November 26, 2010
Mark Austin FTSE Trading Update - 26th Nov 2010
Good morning
I am still in the process of determining whether the 4th wave is over and whether we have started the final 5th up. I have labeled the 4th wave with a red arrow for reference.
Back to shorter term analysis, 5700 was achieved yesterday so I would expect a brief pull back this morning. 5650 remains key support for now. Acceptance (3 thirty minute candle bars) would be detrimental to further upside.
I am still in the process of determining whether the 4th wave is over and whether we have started the final 5th up. I have labeled the 4th wave with a red arrow for reference.
Back to shorter term analysis, 5700 was achieved yesterday so I would expect a brief pull back this morning. 5650 remains key support for now. Acceptance (3 thirty minute candle bars) would be detrimental to further upside.
A testimonial for my FTSE Trading Service
I just wanted to give you some feedback, as often you only hear from people when they are not happy.
I only joined your service 1 month ago and observed for a week as I have been using other services that seem to give me advice on how to burn my pot, I did not need there advice for this! I have to tell you that just from last Friday, Monday and Tuesday of this week you have made me 100 % of my pot, if you continue in this fashion you may even get me all my money back that other services have lost me.
I just wanted to say your narrative in the morning is so good, it feels good to win. But it feels like I thrash the broker, I sell to your target down then go long, once I observe a bit of price action. Added with the binary's is gives me a great feeling. All of this with low leverage and no draw down i am amazed how less stressed i am since using your service.I have recommended you to lots of people.
A genuine thank you and keep up the great work.
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Thursday, November 25, 2010
Mark Austin FTSE Trading Update - 25th Nov 2010
Good morning
Its thanksgiving in the US today so expect a very quiet session on the FTSE after 12pm.
On Monday I mentioned the FTSE had yet to complete a 38.20% Fibonacci retracement from its highs at 5903. This has occurred now so in terms of a correction the minimum requirements have been fulfilled (see chart attached). However, the form of the 4th wave is a complicated pattern so for now I expect horizontal activity between 5530-5820. Once price action goes above 5850 we can conclude wave 4 is over and wave 5 has started.
To get access to the complete email as well as my ftse trading opportunities you can sign-up at my website.
Its thanksgiving in the US today so expect a very quiet session on the FTSE after 12pm.
On Monday I mentioned the FTSE had yet to complete a 38.20% Fibonacci retracement from its highs at 5903. This has occurred now so in terms of a correction the minimum requirements have been fulfilled (see chart attached). However, the form of the 4th wave is a complicated pattern so for now I expect horizontal activity between 5530-5820. Once price action goes above 5850 we can conclude wave 4 is over and wave 5 has started.
To get access to the complete email as well as my ftse trading opportunities you can sign-up at my website.
Wednesday, November 24, 2010
Mark Austin FTSE Trading Update - 24h Nov 2010
Good morning
The FTSE broke through 5650 yesterday so the short term trend of the index has turned neutral. I say neutral and not negative for the following reasons:
A)The FTSE started its rally on the break out of an inverted head and shoulders pattern at 5477 back in September. Its very easy to get caught up in world events but unless we see prices move below this level we should assume we are still in a correction from 5903.
B) The Elliott count is far from ideal. Usually when the pattern is unclear it is counted as corrective. If we have clear 5 wave action then the action is impulsive. Impulsive action is the direction of the overall trend. In this case its still long term up.
C) We have left a trail of gaps above current levels (5620) and 5800. The extreme gap in particular at 5668. These usually fill over 3 trading days. This could indicate we may experience horizontal activity between 5530-5800 in the short term.
The FTSE broke through 5650 yesterday so the short term trend of the index has turned neutral. I say neutral and not negative for the following reasons:
A)The FTSE started its rally on the break out of an inverted head and shoulders pattern at 5477 back in September. Its very easy to get caught up in world events but unless we see prices move below this level we should assume we are still in a correction from 5903.
B) The Elliott count is far from ideal. Usually when the pattern is unclear it is counted as corrective. If we have clear 5 wave action then the action is impulsive. Impulsive action is the direction of the overall trend. In this case its still long term up.
C) We have left a trail of gaps above current levels (5620) and 5800. The extreme gap in particular at 5668. These usually fill over 3 trading days. This could indicate we may experience horizontal activity between 5530-5800 in the short term.
Tuesday, November 23, 2010
Mark Austin FTSE Trading Update - 23rd Nov 2010
Good morning
The FTSE made a brief high at 5787 (above its high on the 18th Nov 5786) but I was expecting a move above 5800 where we have some gaps unfilled.
The short term trading range lies between 5650 and 5760. A definitive break of these key levels will dictate the next direction. I will therefore be watching the open carefully as we are set to open below 5650. If price action is not accepted below 5650 we could have a short term buying opportunity.
Monday, November 22, 2010
Mark Austin FTSE Trading Update - 22th Nov 2010
Good morning
The FTSE will open higher this morning after Ireland received confirmation of a bail out package from the EU. Good news? Yes but lets face it, another EU country has failed and begs the question of who is next..............
The recent correction fell shy of its 38.20% correction level. This is not ideal and we could expect a further correction shortly.
We are probably in a Wave A from 5900 ended at 5651. We are currently in wave B which is taking the form of an abc. I would expect this to reach 5820-5850 and then a final move down.
For the above scenario to remain valid I would not expect the FTSE to close above 5820 on 2 consecutive occasions. If we do I will conclude the rally is set to continue into the year end and we will position long.
The FTSE will open higher this morning after Ireland received confirmation of a bail out package from the EU. Good news? Yes but lets face it, another EU country has failed and begs the question of who is next..............
The recent correction fell shy of its 38.20% correction level. This is not ideal and we could expect a further correction shortly.
We are probably in a Wave A from 5900 ended at 5651. We are currently in wave B which is taking the form of an abc. I would expect this to reach 5820-5850 and then a final move down.
For the above scenario to remain valid I would not expect the FTSE to close above 5820 on 2 consecutive occasions. If we do I will conclude the rally is set to continue into the year end and we will position long.
Thursday, November 18, 2010
Mark Austin FTSE Trading Update - 18th Nov 2010
Good morning
After a strong Asian session the FTSE will open positive this morning. Currently the index is trading at 5735.
With Ireland on the verge of being bailed out this could cause some short term upside towards 5800 (we have some gaps to fill above here) so I will be using systems to enter me short this morning but removing the risk early on. I then plan to run the second half of the trade if we see sustained price action under 5700.
To get access to the complete email as well as my trading opportunities you can sign-up at my website www.markaustintrading.com
After a strong Asian session the FTSE will open positive this morning. Currently the index is trading at 5735.
With Ireland on the verge of being bailed out this could cause some short term upside towards 5800 (we have some gaps to fill above here) so I will be using systems to enter me short this morning but removing the risk early on. I then plan to run the second half of the trade if we see sustained price action under 5700.
To get access to the complete email as well as my trading opportunities you can sign-up at my website www.markaustintrading.com
Wednesday, November 17, 2010
Mark Austin FTSE Trading Update - 17th Nov 2010
Good morning
Yesterday the FTSE closed under the MA 20 at 5760 which confirms negative price action with lower prices likely in the short term
Attached is my analysis from yesterday. The end target for this decline is 5620.
Major support lies at 5550 and unless we close below this level on an end of day basis, this decline can be treated as a simple correction.
Yesterday the FTSE closed under the MA 20 at 5760 which confirms negative price action with lower prices likely in the short term
Attached is my analysis from yesterday. The end target for this decline is 5620.
Major support lies at 5550 and unless we close below this level on an end of day basis, this decline can be treated as a simple correction.
Tuesday, November 16, 2010
Mark Austin FTSE Trading Update - 16th Nov 2010
Good morning
This morning FTSE futures are down and we are set to open in the same position as yesterday.
My Elliott count still calls for a move downwards. At this stage this is the most probable count however we really need an end of day close below the MA 20 (5750) to compliment this.
To get access to the complete email as well as my trading opportunities you can sign-up at my website www.markaustintrading.com
This morning FTSE futures are down and we are set to open in the same position as yesterday.
My Elliott count still calls for a move downwards. At this stage this is the most probable count however we really need an end of day close below the MA 20 (5750) to compliment this.
To get access to the complete email as well as my trading opportunities you can sign-up at my website www.markaustintrading.com
Monday, November 15, 2010
Mark Austin FTSE Trading Service Update - 15th Nov 2010
Good morning
After a volatile Friday session the FTSE will open flat this morning.
Friday's session penetrated the MA 20 however we closed above this level so this cannot be treated as a valid sell signal. If anything it was shaking out too many investors long in this market.
In terms of Elliott wave theory I have attached a chart showing a potential ABC correction. Wave B finished at 5832 on Friday and we could be due a decline to retest 5700.
After a volatile Friday session the FTSE will open flat this morning.
Friday's session penetrated the MA 20 however we closed above this level so this cannot be treated as a valid sell signal. If anything it was shaking out too many investors long in this market.
In terms of Elliott wave theory I have attached a chart showing a potential ABC correction. Wave B finished at 5832 on Friday and we could be due a decline to retest 5700.
Friday, November 12, 2010
Mark Austin FTSE Service Update - 12th Nov 2010
Good morning
The FTSE will open sharply lower this morning. We have 2 consecutive end of day closes below the break out level at 5820 which confirms weakness on the index.
The area of no trading activity between 5773-5797 which I have been harping on about for almost a week has finally been filled. This has been a real deterrent for me going long as these areas usually get filled with in 2 days.
The FTSE will open sharply lower this morning. We have 2 consecutive end of day closes below the break out level at 5820 which confirms weakness on the index.
The area of no trading activity between 5773-5797 which I have been harping on about for almost a week has finally been filled. This has been a real deterrent for me going long as these areas usually get filled with in 2 days.
Thursday, November 11, 2010
Mark Austin FTSE Service Update - 11th Nov 2010
Good morning
In terms of price action the FTSE closed (5816) yesterday on a negative note below is recent key break out level at 5820. At this stage I am not going to read too much into this as markets tend to revisit key areas of support or resistance but a second close under this level would suggest weakness.
In terms of price action the FTSE closed (5816) yesterday on a negative note below is recent key break out level at 5820. At this stage I am not going to read too much into this as markets tend to revisit key areas of support or resistance but a second close under this level would suggest weakness.
Wednesday, November 10, 2010
Mark Austin FTSE Service Update - 10th Nov 2010
Good morning
Yesterday the FTSE made a new high whilst American markets sold off. At this stage the FTSE continues to climb with little pull back. In a normal bull market/rally traders can short retracements and also trade the trend up. Under current conditions the FTSE is moving in a virtually straight line. This is not the norm and is a direct result of FED intervention. All we can do is go with the trend but be very alert for sell signals. Any clear sell signals we see can be entered at 50% normal stake which we can add to if the signal is validated.
To get access to the complete email as well as my trading opportunities you can sign-up at my website www.markaustintrading.com
Yesterday the FTSE made a new high whilst American markets sold off. At this stage the FTSE continues to climb with little pull back. In a normal bull market/rally traders can short retracements and also trade the trend up. Under current conditions the FTSE is moving in a virtually straight line. This is not the norm and is a direct result of FED intervention. All we can do is go with the trend but be very alert for sell signals. Any clear sell signals we see can be entered at 50% normal stake which we can add to if the signal is validated.
To get access to the complete email as well as my trading opportunities you can sign-up at my website www.markaustintrading.com
Tuesday, November 9, 2010
Mark Austin FTSE Service Update - 9th Nov 2010
Good morning
In terms of yesterday's analysis there has been no activity to change my short term view.
In terms of yesterday's analysis there has been no activity to change my short term view.
Monday, November 8, 2010
Mark Austin FTSE Service Update - 8th Nov 2010
Good morning
On Friday the FTSE closed well above its break out level at 5820 . For now this acts as confirmation that higher prices are expected towards 6000. You can see this on the weekly chart attached. Only a daily close below 5728 compromises this strong uptrend.
To get access to the complete email as well as my trading opportunities you can sign-up at my website www.markaustintrading.com
On Friday the FTSE closed well above its break out level at 5820 . For now this acts as confirmation that higher prices are expected towards 6000. You can see this on the weekly chart attached. Only a daily close below 5728 compromises this strong uptrend.
To get access to the complete email as well as my trading opportunities you can sign-up at my website www.markaustintrading.com
Thursday, November 4, 2010
Mark Austin FTSE Service Update - 4 Nov 2010
Good morning
The QE2 statement was released last night and the Federal Reserve announced it would buy $600 billion in government bonds to support the struggling economy. The anticipated figure was $500 B so better than expected.
The next important news item will be the non farm payrolls on Friday. This is important as if job numbers come in worse than expected some my take the view that QE2 may not be sufficient to prevent inevitable problems in the US economy. 60k is expected for job creation.
The QE2 statement was released last night and the Federal Reserve announced it would buy $600 billion in government bonds to support the struggling economy. The anticipated figure was $500 B so better than expected.
The next important news item will be the non farm payrolls on Friday. This is important as if job numbers come in worse than expected some my take the view that QE2 may not be sufficient to prevent inevitable problems in the US economy. 60k is expected for job creation.
Wednesday, November 3, 2010
Mark Austin FTSE Service Update - 3 Nov 2010
Good morning
Today we receive the highly anticipated statement from the FED on QE2. This is timed at 6.15pm UK time. Everyone has their prediction on the outcome of this news but in reality no one knows how the market will react.
Today we receive the highly anticipated statement from the FED on QE2. This is timed at 6.15pm UK time. Everyone has their prediction on the outcome of this news but in reality no one knows how the market will react.
Tuesday, November 2, 2010
Mark Austin FTSE Service Update - 2 Nov 2010
Good morning
Today is the mid term elections for the US and I have to applaud the US FED in propping these markets up until this date. From a technical point of view both the US markets and FTSE are well over due a correction. Once tomorrow is out the way I will start providing information to positional traders on longer term trades. I have been hesitant up until now because of this key date.
Today is the mid term elections for the US and I have to applaud the US FED in propping these markets up until this date. From a technical point of view both the US markets and FTSE are well over due a correction. Once tomorrow is out the way I will start providing information to positional traders on longer term trades. I have been hesitant up until now because of this key date.
Monday, November 1, 2010
Mark Austin FTSE Trade Summary - 1st Nov 2010
Dear all
Today I sold the FTSE Binary Tunnel 60/60 at 81.
Half was closed at 59 and the remainder expired at 100.
Binary tunnel trade summary:
Binaries range from 0-100. In this case I was focusing on the 60/60 tunnel. This is simply agreeing or disagreeing that the FTSE will stay in a 60 point range from the previous days close. In this case the previous days close was 5675. By selling the trade I was disagreeing that the trade was going to stay in a 60 point range. I want to be selling these trades at 70 or higher to make the risk/reward make sense. After all that is what trading is all about. I have yet to buy a tunnel but its possible. The tunnel strategy take advantage of volatility, particularly just before large news releases.
Mark Austin FTSE Service Update - 1st Nov 2010
Good morning
Today is the start of an important trading week which could prove to be pivotal. As you may be aware the FTSE has been propped up by the American markets recently with continuous liquidity injections from the FED. This is artificial and from a technical point of view makes reading the markets some what difficult. A prime reason why I have been cautious over the last month with a focus on binaries. On Wednesday the FED will announce its forthcoming liquidity measures. There are two ways to look at this.
To get access to the complete email as well as my trading opportunities you can sign-up at my website www.markaustintrading.com
Today is the start of an important trading week which could prove to be pivotal. As you may be aware the FTSE has been propped up by the American markets recently with continuous liquidity injections from the FED. This is artificial and from a technical point of view makes reading the markets some what difficult. A prime reason why I have been cautious over the last month with a focus on binaries. On Wednesday the FED will announce its forthcoming liquidity measures. There are two ways to look at this.
To get access to the complete email as well as my trading opportunities you can sign-up at my website www.markaustintrading.com
Friday, October 29, 2010
Mark Austin FTSE Service Update - 29th Oct 2010
Good morning
Today is the last day of October trading. Next week I expect trading activity to pick up and here is why:
* Elections end on 2nd November
* FED announces new liquidity measures
* Non Farm Payrolls
Today is the last day of October trading. Next week I expect trading activity to pick up and here is why:
* Elections end on 2nd November
* FED announces new liquidity measures
* Non Farm Payrolls
Thursday, October 28, 2010
Mark Austin FTSE Service Update - 28th Oct 2010
Good morning
Yesterday was a key day for the FTSE in terms of future direction. I attach a chart showing the FTSE closing under its MA 20. This is the first time it has done this in almost 2 months. This is a bearish sign and signals the index will break down lower very shorty. Initial target 5550. We went long yesterday based on this 2 month trend line however only 50% our usual stake as we had some negative price activity from earlier on in the week.
To get access to the complete email as well as my trading opportunities you can sign-up at my website www.markaustintrading.com
Yesterday was a key day for the FTSE in terms of future direction. I attach a chart showing the FTSE closing under its MA 20. This is the first time it has done this in almost 2 months. This is a bearish sign and signals the index will break down lower very shorty. Initial target 5550. We went long yesterday based on this 2 month trend line however only 50% our usual stake as we had some negative price activity from earlier on in the week.
To get access to the complete email as well as my trading opportunities you can sign-up at my website www.markaustintrading.com
Wednesday, October 27, 2010
Mark Austin FTSE Service Update - 27th Oct 2010
Good morning
I expect yesterdays close at 5707 to be retested today. Currently the market is trading at 5665. I will use this level (5707) as a trade reference.
Its possible the trend has turned down however we could do with firm confirmation which would be a move past 5650. I may therefore look to open a Binary tunnel (last night closing level on the FTSE). Remember with the tunnel trade we can benefit either direction.
Tuesday, October 26, 2010
Mark Austin FTSE Service Update - 26th Oct 2010
Good morning
Yesterday the FTSE filled my price targets in the 5750 region and closed just above here at 5752. No SMS for this as I wanted a slightly higher prices to enter any shorts.
This price action left a rejection candle which we should be aware of at 5800 (see attached chart). This weakens any buy activity above 5700 but the uptrend still remains valid unless we close under 5718 which is the 10 day moving average.
To get access to the complete email as well as my trading opportunities you can sign-up at my website www.markaustintrading.com
Yesterday the FTSE filled my price targets in the 5750 region and closed just above here at 5752. No SMS for this as I wanted a slightly higher prices to enter any shorts.
This price action left a rejection candle which we should be aware of at 5800 (see attached chart). This weakens any buy activity above 5700 but the uptrend still remains valid unless we close under 5718 which is the 10 day moving average.
To get access to the complete email as well as my trading opportunities you can sign-up at my website www.markaustintrading.com
Monday, October 25, 2010
Mark Austin FTSE Service Update - 25nd Oct 2010
Good morning
The FTSE remains in a tight range as indicated by the attached chart.
Key support lies at 5700 and given the fact that the market produced a false break through this area last week, any prices above here call for higher prices towards 5833. I would also air on the caution of shorting a double top scenario (5833) too quickly as many retail investors will be focusing on this.
The FTSE remains in a tight range as indicated by the attached chart.
Key support lies at 5700 and given the fact that the market produced a false break through this area last week, any prices above here call for higher prices towards 5833. I would also air on the caution of shorting a double top scenario (5833) too quickly as many retail investors will be focusing on this.
Friday, October 22, 2010
Mark Austin FTSE Service Update - 22nd Oct 2010
Good morning
The FTSE remains above 5700 so technically we can assume we are heading for a double top scenario (5833). The market sentiment also remains very bullish but for how long? The market will only support buying stocks at high prices for so long. Once all the government stimulus news has been digested there will be little to support these markets and a correction is inevitable.
I did highlight several weeks ago that when everyone expects an event it rarely come to fruition. In this case the double top could simply collapse and a wave of selling come in. For this reason I deem it appropriate to step aside until the market reveals its next move. If the selling starts there will be plenty of opportunities to enter. Likewise if we get one last powerful move to the upside we have a low risk shorting opportunity.
The FTSE remains above 5700 so technically we can assume we are heading for a double top scenario (5833). The market sentiment also remains very bullish but for how long? The market will only support buying stocks at high prices for so long. Once all the government stimulus news has been digested there will be little to support these markets and a correction is inevitable.
I did highlight several weeks ago that when everyone expects an event it rarely come to fruition. In this case the double top could simply collapse and a wave of selling come in. For this reason I deem it appropriate to step aside until the market reveals its next move. If the selling starts there will be plenty of opportunities to enter. Likewise if we get one last powerful move to the upside we have a low risk shorting opportunity.
Thursday, October 21, 2010
Mark Austin FTSE Service Update - 21st Oct 2010
Over the last 24 hours we have seen several false breaks below 5700 with buyers coming in. This mornings false break being particularly bullish and we can assume that whilst the FTSE is above 5700 we are heading for a double top scenario at 5833.
Monday, October 18, 2010
Mark Austin FTSE Trade Summary - 18th Oct 2010
Dear all
Today we bought the FTSE to be up Binary at a price of 21. Half profits were taken at 47 and remainder at 60.
This morning I outlined a large gap on the price charts at 5717 (see this mornings email attached for reference). I also had a POM signal (system) close to this level. Combined with support at 5660 this offered a good opportunity to go long. See attached chart.
I used the binary in case the market went on a stop hunting mission below 5660.
At this stage I am still looking for a correction to at least 5550-5600 and a short term top maybe in at 5770.
To get access to the complete email as well as my trading opportunities you can sign-up at my website www.markaustintrading.com
Mark
Mark Austin FTSE Service Update - 18th Oct 2010
Good morning
The FTSE will open lower today after a volatile Friday session.
The markets are still over bought and in need of a correction however the bullish sentiment remains strong with continued talks of the FED pumping liquidity into the market. Retail investors are reading this in newspapers but what they are not aware of is this information will already be priced into the market. Remember the markets price information in around 6 months ahead of us reading it. A key point to remember if you readily make trading decisions based on articles you read in the press.
The FTSE will open lower today after a volatile Friday session.
The markets are still over bought and in need of a correction however the bullish sentiment remains strong with continued talks of the FED pumping liquidity into the market. Retail investors are reading this in newspapers but what they are not aware of is this information will already be priced into the market. Remember the markets price information in around 6 months ahead of us reading it. A key point to remember if you readily make trading decisions based on articles you read in the press.
Friday, October 15, 2010
Mark Austin FTSE Service Update - 15th Oct 2010
Good morning
Today is expiry on the FTSE. These days can be pivotal with big moves created as traders take on fresh positions in the market. The expiry takes place between 10-10.30 am.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Today is expiry on the FTSE. These days can be pivotal with big moves created as traders take on fresh positions in the market. The expiry takes place between 10-10.30 am.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Mark Austin FTSE Trade Summary - 15th Oct 2010
Good evening
Yesterday I sold the FTSE at 5768 as per my pre market email attached below for reference.
75% of the profits were taken at 5744 and the remaining 25% is still running with a stop at 5744. Target 5680 -5700.
My reasons for the trade
1) Yesterday we opened higher than the previous days close at 5661 and this level was not filled. Today we yet again gapped up higher than Wednesday's close at 5747. After a strong extended rally its rare that a second closing gap is not filled on an intra day basis.
2) My target for the rally was 5750 as mentioned earlier this week
3) Given its expiry tomorrow I was expecting a weak consolidating session
4) POM - System signal - http://www.markaustintrading.com/pomseminar.html
This mornings email for reference
Good morning
Yesterday the market rallied as expected and left a nice short term sell target at 5675.
From a technical front 5820 presents very strong resistance and should be sold on the first touch if we manage to get that far. Given the overbought conditions the market is unlikely to have the strength to penetrate this area first time round.
Today's Trading Opportunities
We have expiry tomorrow and after a strong session yesterday we may consolidate today.
I have a short term sell target at 5741. Current market is 5765. If we open 30 points higher than 5741 I will issue a sell SMS.
Yesterday the market rallied as expected and left a nice short term sell target at 5675.
From a technical front 5820 presents very strong resistance and should be sold on the first touch if we manage to get that far. Given the overbought conditions the market is unlikely to have the strength to penetrate this area first time round.
Today's Trading Opportunities
We have expiry tomorrow and after a strong session yesterday we may consolidate today.
I have a short term sell target at 5741. Current market is 5765. If we open 30 points higher than 5741 I will issue a sell SMS.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Thursday, October 14, 2010
Mark Austin FTSE Service Update - 14th Oct 2010
Good morning
Yesterday the market rallied as expected and left a nice short term sell target at 5675.
From a technical front 5820 presents very strong resistance and should be sold on the first touch if we manage to get that far. Given the overbought conditions the market is unlikely to have the strength to penetrate this area first time round.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Yesterday the market rallied as expected and left a nice short term sell target at 5675.
From a technical front 5820 presents very strong resistance and should be sold on the first touch if we manage to get that far. Given the overbought conditions the market is unlikely to have the strength to penetrate this area first time round.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Wednesday, October 13, 2010
Mark Austin FTSE Service Update - 13th Oct 2010
Good morning
The FTSE maintained it position above 5585 yesterday so the outlook remain bullish. For those wondering the relevance of 5585, this is where the MA 20 lies on the daily cash charts (non futures). I am expecting one more leg up for this rally (circa 5750) which may present a good longer term short position.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
The FTSE maintained it position above 5585 yesterday so the outlook remain bullish. For those wondering the relevance of 5585, this is where the MA 20 lies on the daily cash charts (non futures). I am expecting one more leg up for this rally (circa 5750) which may present a good longer term short position.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Tuesday, October 12, 2010
Mark Austin FTSE Service Update - 12th Oct 2010
Good morning
Yesterday's FTSE action was very muted. As mentioned yesterday, traders are in a dilemma. They are aware FED intervention will help support the markets in the short term however buying stocks at these levels after an extended rally is risky. A healthy pull back is necessary from current levels if we are to make a convincing move above 5833 (the highs this year). If we continue higher without the pull back then the market risks a flash crash scenario.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Yesterday's FTSE action was very muted. As mentioned yesterday, traders are in a dilemma. They are aware FED intervention will help support the markets in the short term however buying stocks at these levels after an extended rally is risky. A healthy pull back is necessary from current levels if we are to make a convincing move above 5833 (the highs this year). If we continue higher without the pull back then the market risks a flash crash scenario.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Monday, October 11, 2010
Mark Austin FTSE Service Update - 11th Oct 2010
Good morning
The release of non farm payrolls and unemployment data in the US did little to phase this current bull run and investors are looking at the FED for continued assistance in the economy. Investors are bullish and this sentiment is growing every day. Of course the problem with this is as the rally continues in an over extended market with clear economic problems, the chances of a flash crash rise. The market is aware of this and the nervous behaviour is reflected in long periods of consolidation (range bound markets).
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
The release of non farm payrolls and unemployment data in the US did little to phase this current bull run and investors are looking at the FED for continued assistance in the economy. Investors are bullish and this sentiment is growing every day. Of course the problem with this is as the rally continues in an over extended market with clear economic problems, the chances of a flash crash rise. The market is aware of this and the nervous behaviour is reflected in long periods of consolidation (range bound markets).
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Friday, October 8, 2010
Mark Austin FTSE Service Update - 8th Oct 2010
Good morning
Today is non farm payrolls day and this is one piece of news that almost always causes a big reaction in the markets. Released at 1.30pm.
During 2008/2009 it was interest rate news making a big impact on the markets. At present its employment.
For trading on big news release days we will use the tunnel trade again as you cannot find an edge trading news with spread bets as your odds are 50/50.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Today is non farm payrolls day and this is one piece of news that almost always causes a big reaction in the markets. Released at 1.30pm.
During 2008/2009 it was interest rate news making a big impact on the markets. At present its employment.
For trading on big news release days we will use the tunnel trade again as you cannot find an edge trading news with spread bets as your odds are 50/50.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Thursday, October 7, 2010
Mark Austin FTSE Service Update - 7th Oct 2010
Good morning
Today sees the start of the third quarter earning season in the US.
We also have a raft of important economic data released over the next 2 days in both the UK and US.
http://www.dailyfx.com/
The big item of news is the Non Farm Payrolls (tomorrow) and we will be looking to profit from the tunnel trade strategy on this.
Yesterday was also the last FED buying purchase until the end of October so we could see some profit taking on the US indices which will drag the FTSE down.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Today sees the start of the third quarter earning season in the US.
We also have a raft of important economic data released over the next 2 days in both the UK and US.
http://www.dailyfx.com/
The big item of news is the Non Farm Payrolls (tomorrow) and we will be looking to profit from the tunnel trade strategy on this.
Yesterday was also the last FED buying purchase until the end of October so we could see some profit taking on the US indices which will drag the FTSE down.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Wednesday, October 6, 2010
Mark Austin FTSE Service Update - 6th Oct 2010
Good morning
Yesterday the Dow Jones advanced and dragged the FTSE up with it. The American move was backed with FED cash injections.
Support for the FTSE now lies at 5560. I am expecting one more advance to the upside before I will consider opening longer term shorts.
Yesterday's daily cash high was 5648 and after a strong push to the upside I expect this to be retested at the open (8am). The current price is 5661.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Yesterday the Dow Jones advanced and dragged the FTSE up with it. The American move was backed with FED cash injections.
Support for the FTSE now lies at 5560. I am expecting one more advance to the upside before I will consider opening longer term shorts.
Yesterday's daily cash high was 5648 and after a strong push to the upside I expect this to be retested at the open (8am). The current price is 5661.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Tuesday, October 5, 2010
Mark Austin FTSE Service Update - 5th Oct 2010
Good morning
We continue to see price exhaustion above 5600 on the back of this low volume rally.
As mentioned yesterday I expect this 5500-5600 range to be broken this week. We have lots of economic news coming out on Thursday and Friday and the US also starts its third quarter earnings on Thursday 7th October. This is good news for trading as volatility will increase providing more trading opportunities.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
We continue to see price exhaustion above 5600 on the back of this low volume rally.
As mentioned yesterday I expect this 5500-5600 range to be broken this week. We have lots of economic news coming out on Thursday and Friday and the US also starts its third quarter earnings on Thursday 7th October. This is good news for trading as volatility will increase providing more trading opportunities.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Monday, October 4, 2010
Mark Austin FTSE Service Update - 4th Oct 2010
Good morning
The FTSE is back in its 100 point range (5500-5600) and lies in the same position as last Monday. One downfall to tight ranges is that trade sets ups with strong signals have little room to progress.
This week is non farm payrolls (on Friday) and I expect this three week range to be broken finally. The move could be very powerful. There are strong signals supporting the bulls and the bears. In brief, the inverted head and shoulders break out at 5477 is supportive of the bulls as well as the 50/200 MA golden cross.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
The FTSE is back in its 100 point range (5500-5600) and lies in the same position as last Monday. One downfall to tight ranges is that trade sets ups with strong signals have little room to progress.
This week is non farm payrolls (on Friday) and I expect this three week range to be broken finally. The move could be very powerful. There are strong signals supporting the bulls and the bears. In brief, the inverted head and shoulders break out at 5477 is supportive of the bulls as well as the 50/200 MA golden cross.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Friday, October 1, 2010
Mark Austin FTSE Service Update - 1st Oct 2010
Good morning
Yesterday produced a negative outside day on the FTSE. This is when the Index makes a lower low, a higher high and then closes below the previous day's closing level (see attached chart). A strong sell signal by all accounts and indicates a trend change. The move to the downside was also supported by strong volume.
On top of this, the VIX which is a measure of volatility has also increased for all global indices. This is another bearish sign.
So at this stage the FTSE looks like it is rolling over and there is certainly some strong selling pressure coming in.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Yesterday produced a negative outside day on the FTSE. This is when the Index makes a lower low, a higher high and then closes below the previous day's closing level (see attached chart). A strong sell signal by all accounts and indicates a trend change. The move to the downside was also supported by strong volume.
On top of this, the VIX which is a measure of volatility has also increased for all global indices. This is another bearish sign.
So at this stage the FTSE looks like it is rolling over and there is certainly some strong selling pressure coming in.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Thursday, September 30, 2010
Mark Austin FTSE Trading Service Summary - 30th Sept 2010
Dear all
Today I sold the FTSE Binary tunnel 75/75 at a price of 83. Half profits were taken at 65 and remaining position was closed out at 20.
Binaries only range between 0 - 100 so I was risking only 17 points for a potential 83 points.
The reasons were on the email I posted in conjunction with the SMS (see below in bold)
This strategy offers a low risk way to profit on big moves caused by news releases. Its difficult to get on board a big move once its started but the tunnel trade positions you well before. You don't need the market direction right either! I will be employing this particular strategy for the NON FARM PAYROLLS next Friday. This is always a market moving item of news.
In terms of market analysis we have rallied hard and we may have completed the last leg up I mentioned this morning. I am expecting this to end between 5650-5700. Tomorrow morning may offer a sell signal and I'll be posting my usual trading update at 7.50am.
Mark
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Mark Austin FTSE Service Update - 30th Sept 2010
Good morning
The FTSE has closed in a very tight range for the last 3 sessions now and maintains its tight trading range between 5500-5600. Which as mentioned yesterday has been the case since September 13th.
Today is the end of the 3rd quarter so we may see some window dressing on the UK and US markets (http://www.investopedia.com/
The FTSE has closed in a very tight range for the last 3 sessions now and maintains its tight trading range between 5500-5600. Which as mentioned yesterday has been the case since September 13th.
Today is the end of the 3rd quarter so we may see some window dressing on the UK and US markets (http://www.investopedia.com/
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Wednesday, September 29, 2010
Mark Austin FTSE Service Update - 29th Aug 2010
Good morning
The FTSE remains unchanged since yesterday's close (5578) so no early morning trade opportunities.
Key support for this rally continues to lie at 5477 and only an end of day close below this level will convince me that the rally has formed a top. Above this level the market is technically bullish.
The market has been moving sideways (between 5500 -5600) since September 13th and generally a pause of this nature is bullish and calls for higher prices. However given the low volume,over bought conditions and bearish divergence associatd with this rise, the best strategy is to wait for the last leg up to complete. As bullish sentiment increases amongst retail investors the more likely a flash crash becomes. Hence why I issued a cautious stance on this market last week.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
The FTSE remains unchanged since yesterday's close (5578) so no early morning trade opportunities.
Key support for this rally continues to lie at 5477 and only an end of day close below this level will convince me that the rally has formed a top. Above this level the market is technically bullish.
The market has been moving sideways (between 5500 -5600) since September 13th and generally a pause of this nature is bullish and calls for higher prices. However given the low volume,over bought conditions and bearish divergence associatd with this rise, the best strategy is to wait for the last leg up to complete. As bullish sentiment increases amongst retail investors the more likely a flash crash becomes. Hence why I issued a cautious stance on this market last week.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Tuesday, September 28, 2010
Mark Austin FTSE Trading Service Update - 28th Sept 2010
Good morning
After yesterdays quiet session my overall analysis remains the same (as posted yesterday morning).
The FTSE is currently trading at 5565 and we have a layer of support between 5550-5566. We also still have the unclosed price gap at 5554 which I mentioned yesterday. These price gaps derived from news releases tend to be closed within a few sessions.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
After yesterdays quiet session my overall analysis remains the same (as posted yesterday morning).
The FTSE is currently trading at 5565 and we have a layer of support between 5550-5566. We also still have the unclosed price gap at 5554 which I mentioned yesterday. These price gaps derived from news releases tend to be closed within a few sessions.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Monday, September 27, 2010
Mark Austin FTSE Service Update - 27th Sept 2010
Good morning
Overnight action on the FTSE has made a new high at 5642 and most likely collected a few stops in the process.
As we have broken through 5610 I will be monitoring the opening range today and establish whether price above this level is accepted during official FTSE hours (8am -4.30pm). If accepted we could be on our way up to 5700.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Overnight action on the FTSE has made a new high at 5642 and most likely collected a few stops in the process.
As we have broken through 5610 I will be monitoring the opening range today and establish whether price above this level is accepted during official FTSE hours (8am -4.30pm). If accepted we could be on our way up to 5700.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Friday, September 24, 2010
Mark Austin FTSE Trading Service Summary - 24th Aug 2010
Dear all
Today I went short the FTSE at 5546. Stop 5556. Half profit target 5515.
The stop was move to entry and half profits were taken at 5222. The remainder stopped out at entry. The markets are looking bullish right now. If you want to short from current levels (5600) put your stop in at 5610. As its Friday afternoon and we are well into the American session I will be leaving this alone.
The trade was based on this mornings email:
Trading Opportunities
No signals this morning with the FTSE currently trading at 5522. The only trade I will be looking at will be if the FTSE attempts to fill last night's closing level at 5547. As mid resistance lies at 5550 this could be a low risk opportunity with stops at 5557. Target 5500. I'll send an sms if I deem this appropriate.
No signals this morning with the FTSE currently trading at 5522. The only trade I will be looking at will be if the FTSE attempts to fill last night's closing level at 5547. As mid resistance lies at 5550 this could be a low risk opportunity with stops at 5557. Target 5500. I'll send an sms if I deem this appropriate.
The half profit target at 5515 was used from POM. If you look at the graph today you will see this target was hit and then the market reversed. Another powerful illustration of how effective POM is!!. There is just ONE space left for the POM trading package at this special price so sign up below to avoid disappointment.
http://www.markaustintrading.com/pomseminar.html Mark Austin FTSE Trading Summary - 24rd Sept 2010
Dear all
Yesterday I sold the FTSE at 5586. Stop 5600. Half profit target 5560. The remaining trade was closed out at 5485.
The reasons were outlined on this mornings email highlighting the weak price action just above 5600 and the weak volume that has been associated with this rally. I also had another POM signal to give me my entry point.
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Thursday, September 23, 2010
Mark Austin FTSE Trading Service Update - 23th Sept 2010
Good morning
Yesterdays sharp fall at the open looked promising for bears however the index rebounded and although it closed down for the day it was also over key resistance at 5540. This level was support on the way down (yesterday morning) and once price moves below it turns into resistance.
Although this is a fools rally backed by low volume, prices can still push higher short term. If we are to move higher the key area lies at 5610.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Yesterdays sharp fall at the open looked promising for bears however the index rebounded and although it closed down for the day it was also over key resistance at 5540. This level was support on the way down (yesterday morning) and once price moves below it turns into resistance.
Although this is a fools rally backed by low volume, prices can still push higher short term. If we are to move higher the key area lies at 5610.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Wednesday, September 22, 2010
Mark Austin FTSE Trading Service Update - 22nd Sept 2010
Good morning
The market remains poised for its next move and at this stage I remain cautious committing to any longer term positions until the market has shown its hand. Catching the highs and lows of markets may sound exiting but it can also be very costly and its better to wait for a firm confirmation.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
The market remains poised for its next move and at this stage I remain cautious committing to any longer term positions until the market has shown its hand. Catching the highs and lows of markets may sound exiting but it can also be very costly and its better to wait for a firm confirmation.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Monday, September 20, 2010
Mark Austin FTSE Trading Service Update - 20th Sept 2010
Good morning
Friday was Triple Witching expiry and we may have seen a key reversal. The decline form the top at 5620 counts as 5 waves down which is bearish. The fact that the market made a higher high and then closed on a lower low (against the previous day) indicates a short term peak.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Friday was Triple Witching expiry and we may have seen a key reversal. The decline form the top at 5620 counts as 5 waves down which is bearish. The fact that the market made a higher high and then closed on a lower low (against the previous day) indicates a short term peak.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Friday, September 17, 2010
Mark Austin FTSE Trading Service Update - 17th Sept 2010
Good morning
Today is triple witching on the FTSE 100. In short this is when options and futures expire. The event will take place between 10 - 10.30 am.
This week has been unusually quiet for the markets even for an expiry. Given the fact that the summer vacation period is over and the quarterly expiry is about to finalise I expect volatility to pick up in the next 2 weeks.
Yesterday I mentioned if we held 5331 we would likely rally and take out stops at 5600. This move occurred over night and I will be looking for a short term sell at the open. Half profit target 5560. I plan to exit trade before 10am when expiry occurs.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Today is triple witching on the FTSE 100. In short this is when options and futures expire. The event will take place between 10 - 10.30 am.
This week has been unusually quiet for the markets even for an expiry. Given the fact that the summer vacation period is over and the quarterly expiry is about to finalise I expect volatility to pick up in the next 2 weeks.
Yesterday I mentioned if we held 5331 we would likely rally and take out stops at 5600. This move occurred over night and I will be looking for a short term sell at the open. Half profit target 5560. I plan to exit trade before 10am when expiry occurs.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Thursday, September 16, 2010
Mark Austin FTSE Trading Service Update - 16th Sept 2010
Good morning
The FTSE has been extremely quiet this week. Once expiry is concluded (tomorrow between 10-10.30am) we should see some action which I will be looking to profit on. Full details on that tomorrow morning.
Today, the trading range between 5531 and 5584 is still intact.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
The FTSE has been extremely quiet this week. Once expiry is concluded (tomorrow between 10-10.30am) we should see some action which I will be looking to profit on. Full details on that tomorrow morning.
Today, the trading range between 5531 and 5584 is still intact.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Wednesday, September 15, 2010
Mark Austin FTSE Trading Service Update - 15th Sept 2010
Good morning
The FTSE remains range bound for the moment in the week leading up to expiry (Friday).
As stated yesterday, the form of the next correction will determine whether we are set to rise and test the highs at 5800 and even 6000. City analysts are bullish at present give the technical chart pattern. I'm not buying this scenario at present given the factors I mentioned yesterday associated with this rise. In summary:
- Low volume
- Bearish divergence
- 5 wave up
- Many gaps left on the way up
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Tuesday, September 14, 2010
Mark Austin FTSE Trading Service Update - 14th Sept 2010
Good morning
Market sentiment remains positive and has pushed the markets to higher highs yesterday. A couple of things to note.
- The move up is backed with low volume
- We have bearish divergences indicating the move is not sustainable
- We have 5 waves up (elliott wave theory) which indicates a move down. The form of this correction will determine whether we will retest 5800 and possibly 6000. The short term trend remains up until we have seen the correction.
- The market has left numerous gaps on the way up.
Monday, September 13, 2010
Mark Austin FTSE Trading Service Update - 13th Sept 2010
Dear all
The FTSE has opened strong this morning on the back of strong economic data from China which has pushed FTSE futures up in early morning trading.
This morning I was looking at selling the FTSE on the back of several system signals looking for a 30-40 decline at the open. I usually look for spread bets for these small moves but trading is all about risk and the binary option (FTSE to finish down at 12pm) priced at 3.8 points was appealing.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Thursday, September 9, 2010
Mark Austin FTSE Trading Service Trade Summary - 9th Sept 2010
Dear all
Today I bought the FTSE at 5411. Target 5470. Stop 5394
A big reason was based on the below factors and strong support at 5400 gave an easy low risk trade entry. I also had a system signal (finally) which triggered me long. My system signals have been sparse this week but hopefully they will pick up next week.
Half profits were taken at 5429 which was last night's closing level. If the FTSE was to reverse it would have been at this point.
The 5th wave is in full force and its possible it ended at 5505 however no signal to enter short at this stage. A straight move to 5540 from here and I would enter short on a first touch basis (during market hours). Its a powerful trend line figure.
Kind regards
Mark
Today I bought the FTSE at 5411. Target 5470. Stop 5394
A big reason was based on the below factors and strong support at 5400 gave an easy low risk trade entry. I also had a system signal (finally) which triggered me long. My system signals have been sparse this week but hopefully they will pick up next week.
Half profits were taken at 5429 which was last night's closing level. If the FTSE was to reverse it would have been at this point.
The 5th wave is in full force and its possible it ended at 5505 however no signal to enter short at this stage. A straight move to 5540 from here and I would enter short on a first touch basis (during market hours). Its a powerful trend line figure.
Kind regards
Mark
Mark Austin FTSE Trading Service Update - 9th Sept 2010
Good morning
Last nights closing candle on the daily chart of the FTSE resembles a doji. The candle has no coloured body and reflects a period of uncertainty between the bulls and bears. What is certain is the market is gearing up for a move.
We have more employment data out in the US today which may spark a reaction at 13.30pm
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Last nights closing candle on the daily chart of the FTSE resembles a doji. The candle has no coloured body and reflects a period of uncertainty between the bulls and bears. What is certain is the market is gearing up for a move.
We have more employment data out in the US today which may spark a reaction at 13.30pm
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Wednesday, September 8, 2010
Mark Austin FTSE Trading Service Update - 8th Sept 2010
Good morning
There are three main areas that I look too when placing trades. Price action / Elliott Wave Theory and Systems.
At present the price action is giving off mixed signals.
Bullish influences -
We broke 5400 yesterday but we closed above this level.( current support for this move up)
The MA 10 and 20 have crossed on the daily chart (see attached daily chart)
Bearish influences -
There is a clear bearish divergence on the daily chart. The MACD does not support the recent moves up. Volume is not behind these moves.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
There are three main areas that I look too when placing trades. Price action / Elliott Wave Theory and Systems.
At present the price action is giving off mixed signals.
Bullish influences -
We broke 5400 yesterday but we closed above this level.( current support for this move up)
The MA 10 and 20 have crossed on the daily chart (see attached daily chart)
Bearish influences -
There is a clear bearish divergence on the daily chart. The MACD does not support the recent moves up. Volume is not behind these moves.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Tuesday, September 7, 2010
Mark Austin FTSE Trading Service Update - 7th Sept 2010
Good morning
The large rally on the 1st September changed the short term trend in this market. As you will see we have five waves up from the lows at 5067 to the highs at 5462. This is impulsive action and signals that the short term trend on the FTSE has turned up. Positional traders should therefore be looking to buy this market.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
The large rally on the 1st September changed the short term trend in this market. As you will see we have five waves up from the lows at 5067 to the highs at 5462. This is impulsive action and signals that the short term trend on the FTSE has turned up. Positional traders should therefore be looking to buy this market.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Monday, September 6, 2010
Mark Austin FTSE Trading Service Update - 6th Sept 2010
Good morning
The FTSE advanced through 5400 on Friday after the non farm payrolls news announcement. It difficult to find an edge on news releases but the tunnel trade worked well for those who traded it. For those who didn't you can apply this technique for future payroll news days or when there is expected high market volatility.
Lastly its Labour day in the US today so US markets are closed. Therefore expect the FTSE action to dry out mid morning.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
The FTSE advanced through 5400 on Friday after the non farm payrolls news announcement. It difficult to find an edge on news releases but the tunnel trade worked well for those who traded it. For those who didn't you can apply this technique for future payroll news days or when there is expected high market volatility.
Lastly its Labour day in the US today so US markets are closed. Therefore expect the FTSE action to dry out mid morning.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Friday, September 3, 2010
Mark Austin FTSE Trading Service Update - 3rd Sept 2010
Today is non farm payrolls in the US so expect some action around 1.30pm.
Last night (out of trading hours) we made an attempt on 5400 which was quickly rejected. This morning if we get a failed retest at this level (a move just below 5400 which is quickly rejected) this could be a sell signal. From here I am looking at a correction to 5280-5300 before heading higher to 5450-60. However with non farm payrolls you never know quite how the market is going to take the news and if its positive we could just climb to 5450 in one go. There fore the trading instrument which I always use on this day is the FTSE Tunnel Binary. You benefit if the market goes up or down. We just need volatility and the volatility should come with the news release.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Last night (out of trading hours) we made an attempt on 5400 which was quickly rejected. This morning if we get a failed retest at this level (a move just below 5400 which is quickly rejected) this could be a sell signal. From here I am looking at a correction to 5280-5300 before heading higher to 5450-60. However with non farm payrolls you never know quite how the market is going to take the news and if its positive we could just climb to 5450 in one go. There fore the trading instrument which I always use on this day is the FTSE Tunnel Binary. You benefit if the market goes up or down. We just need volatility and the volatility should come with the news release.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Thursday, September 2, 2010
Mark Austin FTSE Trading Service Update - 2nd Sept 2010
Good morning
The FTSE made a high yesterday at 5366 and also closed on this high. This is positive and a retest at 5400 is likely. 5400 is major resistance.
Today we have initial job claims at 1.30pm in the US and we also have non farm payrolls tomorrow which will spark a reaction from the market.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
The FTSE made a high yesterday at 5366 and also closed on this high. This is positive and a retest at 5400 is likely. 5400 is major resistance.
Today we have initial job claims at 1.30pm in the US and we also have non farm payrolls tomorrow which will spark a reaction from the market.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Tuesday, August 31, 2010
Mark Austin FTSE Trading Service Update - 31st Aug 2010
Good morning
The FTSE was closed yesterday and we had a fair bit of action out of hours. On Friday I mentioned we should have a short term bounce and positional traders should look at taking positions from 5220. The futures actually rose to high of 5266.
The markets are weak and buyers are not supporting higher prices. The trend remains firmly down. Only a move above 5310 would change my view that a break of 5000 is not imminent.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
The FTSE was closed yesterday and we had a fair bit of action out of hours. On Friday I mentioned we should have a short term bounce and positional traders should look at taking positions from 5220. The futures actually rose to high of 5266.
The markets are weak and buyers are not supporting higher prices. The trend remains firmly down. Only a move above 5310 would change my view that a break of 5000 is not imminent.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Friday, August 27, 2010
Mark Austin FTSE Trading Service Summary - 27th Aug 2010
Good morning
The FTSE briefly popped its head over the 5165 mark yesterday (the 5167) . False break. The USA also completes its week of important news with GDP at 1.30pm today. Most investors will be waiting on the side lines until all these news releases are out the way before entering. So again this may be a short term reason for buyers to enter the market.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
The FTSE briefly popped its head over the 5165 mark yesterday (the 5167) . False break. The USA also completes its week of important news with GDP at 1.30pm today. Most investors will be waiting on the side lines until all these news releases are out the way before entering. So again this may be a short term reason for buyers to enter the market.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Thursday, August 26, 2010
Mark Austin FTSE Trading Service Summary - 26th Aug 2010
Today we closed our FTSE ladder position and also took a tunnel trade. The FTSE ladder 5100 position was taken earlier this week in conjunction with my analysis calling for the FTSE to close sub 5100 at the end of the week. (4.30pm Friday). Although this is still possible with time running out and some bullish signs appearing I closed the remaining half of the profit out early.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Mark Austin FTSE Trading Service Update - 26th Aug 2010
Yesterday we saw the FTSE penetrate 5100 but prices have been rejected and FTSE futures have rallied since the close of yesterday (5109). We need to fall from here (5150) to confirm a final move down towards 5020. If we move through 5165 we may have to prepare for a counter trend rally. A camarilla break out point also lies at 5157 which ties in with this analysis. Although I'm not expecting too much upside and the market will most likely seek out an unfilled closing gap at 5234 from a few days ago. I would go long on a break but the reward is not strong enough and I would prefer to short near to 5230.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
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