Mark Austin FTSE Trading Update - 31 March 2011

Good morning

Today is the end of the first quarter so we may see some window dressing from fund managers. In fact the fast rise over the last few days may have some connection to this effect so its unwise for investors to get overally bullish just yet.

(http://www.investopedia.com/terms/w/windowdressing.asp).

We cannot rule out further gains over the next 2 days but I do not anticipate a decisive break above 6000 before we retest 5900.

Our magnet target from yesterday remains live.....

Mark Austin FTSE Trading Update - 30 March 2011

Good morning

We saw a close above 5930 yesterday which has resulted in a new leg up
for the FTSE. As you'll recall yesterday I mentioned 5930 was where
the 50 Moving day average lay and a close above here was very
positive. This level was acting as previous resistance. This is pure
price action and many traders take note of such areas.

Mark Austin FTSE Trading Update - 29 March 2011

Good morning

Very slow action across global indices has left the FTSE flat over the last 24 hours.  Our medium term analysis remains positive unless we see a weekly close below 5808. 

In the short term we are still looking for a short pull - target 5720. However this will only activate if we see a break below 5860 or acceptance under 5900.

This is not the full report which you can access through this link here.

Mark Austin FTSE Trading Update - 28 March 2011

Good morning

For now the recent decline fits well for a standard correction in bull market. The fact that we retested the MA 200 and bounced straight away and we have just observed a weekly close above 5870 (the level which prompted the decline) does not support the view that we have seen a major top at 6104.

This can change but unless I now observe an end of week close below 5808 (previous Jan low) we are likely to see new highs in the coming months.

To access the full report including Mark's trading opportunities you can sign up through this link.

Mark Austin FTSE Trading Update - 25 March 2011

Good morning

The FTSE closed above 5808 and more importantly 5870 yesterday which indicates a low is in place at 5498 for the recent crash. The sell off didn't penetrate 5477 either so expect higher price over the coming months.

I am monitoring longer swing trade opportunities for you.

Mark Austin FTSE Trading Update - 23 March 2011

Good morning

After a clear rejection from 5808 yesterday the FTSE has fallen back and just about reached 5720.  Unfortunately I had chart problems yesterday but I have a attached the illustration showing the Jan low at 5808 on the weekly chart. To learn more and view this chart you can sign up to Mark's FTSE Trading Service through this link

We stay negative below 5870 in the short term but in the longer term do not forget we are still in a bull market until 5477 breaks (end of day close). 

Mark Austin FTSE Trading Update - 22 March 2011

Good morning

A very quiet session on the FTSE yesterday has done little to change the technical outlook for the index.

We still have a possible target at 5720 which i mentioned yesterday. If we look at price action this target will only become weakened if we see an end of day close above the January low of 5808. This can be seen on the weekly chart. Just above this level also lies resistance at 5830. This should contain prices to the downside however an upward break would be a positive signal and confirm we saw a bottom in the market last week.

The dividend tonight will be 2.6 so I don't expect this to have an effect on the index for the last 1.5 hours of trading.

Mark Austin FTSE Trading Update - 18 March 2011

Good morning

 

Today is ''triple witching'' for the FTSE 100 and this is where quarterly options and futures expire at the same time. The event is often pivotal with large moves coming in just after or the preceding Monday.  We have a system to apply to the actual expiry period between 10-10.15 am and I shall communicate this to you around 9am today.

Mark Austin FTSE Trading Update - 16 March 2011

Good morning

Yesterdays decline towards the floor of the moving day average 200 (5600) went according to plan and the buying opportunity came in.

We've had the bounce but it would be unwise to think the FTSE cannot fall further towards its weekly support at 5530. The index is currently negative from a short term technical perspective and will not turn positive until we have an end of day close above 5870.

The service is currently long on the one touch binary (5760) and I will look to turn this trade risk free this morning if possible by taking half profits.

Mark Austin FTSE Trading Update - 15 March 2011

Good morning

Asian markets were hit last night on the back of Japan which has led to a sharp decline over night.

From a trading perspective I mentioned the importance of 5777 in yesterday's report and to avoid any long positions if we closed the day under this figure. The actual market close was 5775. I know this is only 2 pips but still relevant.

So what do the technicals tell us from here?

To learn more you can sign up to Mark's FTSE Trading Service through this link

Mark Austin FTSE Trading Update - 14 March 2011

Good morning

Last week the FTSE gave a negative sell signal when we saw a close below 5860 which was the break of a double top formation.

We could well see some early weakness towards 5780 this week however unless we see an end of day close below 5777 I do not expect a large decline.  

There are several reasons for this.

To learn more you can sign up to Mark's FTSE Trading Service through this link here

Mark Austin FTSE Service Trade Review - 11 March 2011

Dear all

Today we bought the FTSE to finish up binary at 12pm for a price of 13.

The signal target was 5933. No confirmation needed at the open for this as it was one of my stronger signals.  Ideally I would have used a spread bet for this but given the Japanese news I was expecting some volatility at the open. The benefit with the binary is you can't get stopped out and can just focus on the target in hand.

I placed the trade early as I saw a good price.  If I had waited the price may have vanished. 

70% was removed to lock in as much profit when we reached 5933 and I left the remainder to run given my analysis for a bounce today. I was a little disappointed in the slow price rise from the binary but there you go. 

I expect more selling into next week and I'll update you on Monday with the usual trading ideas.

Have a good weekend.

--
Kind regards

Mark Austin

Mark Austin FTSE Trading Update - 11 March 2011

Good morning

The market finally revealed itself yesterday with an end of day close under 5860.  A sell signal created from a break of a double top formation at 6090.

A weekly close below 5860 would be the icing on the cake for the bears and a message to the market that price action over 6000 is unsustainable. I'll be watching out for this today.

POM Trading System - Profit Orientated Mindset

POM - Profit Orientated Mindset

Mark Austin and John Piper have now fully systemised their tried and tested principles.

Hit rate in excess of 70%
Average winner approx 60% of average loser
100% cast-iron money back guarantee - come to the POM seminar and if you leave before the start of the second session in the morning, claim a full refund!

JOIN THIS SMALL EXCLUSIVE GROUP AT ABSOLUTELY NO RISK.

http://www.markaustintrading.com/pomseminar.html

Mark Austin FTSE Trading Update - 10 March 2011

Good morning

We are trading close the bottom of the recent trading range today.  

Firm confirmation of the next trend will come when we see a close either under 5860 or above 6055.

We have a target at 5922 this morning which we can trade. Given the recent range this will most likely fill but I will use the 5 or 10 min bar as confirmation. The reason for this is:

The RSI on the daily chart is looking very negative and well under 50

We now have 2 days closing under the 50 day moving average.

We break 5860 and the market could collapse very quickly.

Mark Austin FTSE Trading Update - 9 March 2011

Dear all

This morning we bought the FTSE binary one touch 5910 at a price of 28.  If we are buying we are risking 28 points to make 72 points as binaries ranges between 0-100. 

Attached is a chart of the FTSE showing a clear triangle forming with a break out pending.  This morning I was looking at the early break from the 1st 10 minute bar.  This actually broke to the downside and I was expecting momentum to pick up quickly.  Instead the market paused at 5935 which you will see from the chart is the bottom of the triangle.  At this point I closed the trade at 44 for a small profit.

To get access to the complete ftse trading analysis as well as my trading opportunities you can sign up here.

Mark Austin FTSE Trading Update - 9 March 2011

Good morning

The bulls and bears continue to fight out the recent trading range between 6055 and 5860.  Yesterday' s end of day candle bar on the daily chart clearly shows indecisiveness in the market. We did sell off but the buyers came in right on cue during the last 1.5 hours of trading as per my report.

I mentioned earlier this week that the complicated wave structure of this current sideways move points towards correctional behaviour with higher prices on the way. The long term market is also technically positive and if we look at historical data a period of uncertainty within a bull market often leads to higher prices.

Mark Austin FTSE Trading Update - 8 March 2011

Good morning 

We continue trading within a rectangle formation between major support at 5922 and resistance at 6055.  An established break of either levels will confirm the new direction. 

We have been trading sideways for some time now and this market uncertainty can be linked to higher oil prices and political unrest which is weighing on investors.  I am expecting a break out and it could come in the next couple of days.

As per my report yesterday the preference is for higher prices until we see a close below 5860.

Mark Austin FTSE Trading Update - 7 March 2011

Good morning

For now the FTSE is moving in line with expectations - referring to Friday's analysis.  We had the decline to 5950 on Friday and we are now looking for some upside. 

The actual wave structure is very complicated at present and you have probably noticed we are getting false signals flying around on both European and American markets. In Elliott Wave Theory if the count is complicated it is generally corrective. If its a clear count its impulsive. For this reason this lengthy sideways move on the FTSE is most likely corrective with higher prices on the way however I remain cautious with all the Geo Political instability surrounding us.  Obviously a move below 5860 would change things.

Mark FTSE Service seminar - A brand new FTSE service

Mark FTSE Service Seminar

I am holding a full day's seminar on near to Dorking in the Surrey Hills. Date: 15th April 2011

The seminar will be focused on the lifestyle trader concept and by that I mean the techniques and systems I deploy every day to enable me to create

Consistent income whilst not being glued to the screens all day and to live where I choose.

For more information and to book you can click here

All the best

Mark

Mark Austin FTSE Trading Update - 4 March 2011

Good morning

The FTSE broke out of a double bottom formation yesterday with a close above 6000. (see chart)  This is positive action and signals a move to 6090 and even new highs.

Support for the Index lies at 5915.

At this stage only a close below 5860 compromises further gains in this market but I will point out that if the FTSE did penetrate this level from current levels it would be a serious set back. From a price action perspective the index would basically be sending a message that activity over 6000 is unsustainable in this economic climate.

In the short term we have non farm payrolls today.

Mark Austin FTSE Trading Update - 3 March 2011

Good morning

The sideways pattern for the FTSE continues and we remain stuck between major support at 5860 and major resistance at 6055.

In the short term the bulls have the upper hand after a strong bounce off yesterday's major support at 5861 and the daily chart showing a bullish end of day hammer candlestick formation.

The current price action signals for higher prices towards 5980. The obvious stop for any traders going long in this market is 5860 and a move below here will delay the expectations of fresh highs being made in this market.

Mark Austin FTSE Trading Update - 2 March 2011

Good morning

The FTSE this morning is faced with another negative outside day ( a new low and new high was made when compared to the previous trading day and the index closed on a low) and is resting on major support at 5870. A familiar picture is this sideways market.  

I still maintain we need an end of day close under 5820 to confirm a top is in place on this market however the failed retest and false break at 6000 which I sent through to you yesterday is certainly bearish.

Mark Austin FTSE Trading Service - 1 March 2011

Good morning

The FTSE is trading in a rectangle sideways formation between 5920 and 6105.  At this point a close above 6055 will indicate new highs (above 6105) for the FTSE.  Buying opportunities remain near to 5950 with stops under 5920.

I have a magnet target at 6006 this morning but its the 1st of the month so we have to be slightly cautious targeting this. Funds usually commit large cash investments on these days. 

Link to our webinar recording

Dear all

We held our 3rd webinar event on Saturday covering systems, psychology and POM.  For those who could not attend please find the recorded version.

http://tinyurl.com/698anws