FTSE Trading Report - 29 June 2012

Good news from the EU summit sees the FTSE trading near to 5600 which is a scenario we discussed yesterday. If the FTSE holds above 5600 for more than an hour this morning then we could see the market push as high as 5700 over coming sessions. However only an end of day close above 5720 will compromise the overall bearish trend we are in.

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FTSE Trading Report - 28 June 2012

We have the EU summit starting today so if there is any good news that comes out of this we could be back at 5600 again. If investors do not like the news then the market will sell off from current levels.  The line in the sand for this bearish trend is 5720. Unless we see prices trade above here the trend is firmly down.

This morning I want to target the magnet at #### (CLIENTS ONLY) but we are trading too close at present.

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FTSE Trading Report - 27 June 2012

I am still expecting a rise towards 5560 at some point this week. I will then look to re position short for 5350.

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FTSE Trading Report - 25 June 2012

A close below 5555 on Friday was bearish and indicates further selling towards 5360 however we also have a target at #### (CLIENTS ONLY) this week which will draw the market in.  For this reason I will use the 5 minute bar system today.

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FTSE Trading Report - 22 June 2012

In terms of the buy at the open this is risky so we can risk a few points on this if we hit #### CLIENTS ONLY just after the the open but keep your stop to a few points. I expect the magnet to hit early on and its clear we want to be positioning short in any case.

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FTSE Trading Report - 21 June 2012

The Fed announced plans for new stimulus last night but also lower growth expectations for the economy.  Its mixed news and the market will be digesting this news this morning so expect choppy action early on. I do expect things to settle down from tomorrow onwards and easier trades to call.

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FTSE Trading Report - 20 June 2012

We have the FOMC meeting today and this is following a strong trending day to the upside so we should see a consolidation day. 

We have broken above 5585 so we can expect this rally to continue slightly above 5600.

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FTSE Trading Report - 19 June 2012

An early morning bull trap was delivered yesterday which we which we were fully prepared for and profit taking came in immediately.  Greece is still in the Euro however don't let this news item mask why the markets have been rising. Its all based on the expectation of stimulus and it is just that.... expectation.  We have the FOMC meeting tomorrow and investors will be watching this closely.  The market could easily retest the lows and below if the market is not assured stimulus will actually be delivered.

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FTSE Trading Report - 18 June 2012

Good news for the Greek bail out sees the FTSE trading higher this morning and the likely hood of a new high above 5536 during cash hours.  Markets discount news well ahead of the event so although things look bullish on the surface this morning we will most likely see profit taking as a result of ''buy the rumour, sell the fact scenario.''  With this in mind a retest of 5510 is likely this week.

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FTSE Trading Report - 15 June 2012

Today should be an active trading day but if you are a short term trader you will want to close your positions by the end of the day leading into the Greek election over the weekend. 

In terms of price action we keep testing the highs so its likely we will see a new high either today or Monday (if the Greek news is good). If the Greek news is bad there could be a large gap down on Monday morning.

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FTSE Trading Report - 14 June 2012

FTSE rallies continue to be sold ahead of the election and the price action is clearly sideways which is not too surprising . The big players will already be positioned or squaring off positions ahead of the Greek election.  For the rest of the week I continue to expect rallies to sold.  Could we see a new break above 5536 before the weekend? Possible but unlikely and even if we did see this I would not expect much participation. More of a stop hunting manoeuvre. A new high on Monday could also be a bull trap.  It is very common to see bull/bear traps surrounding major news announcements so be aware of this. As a trader I like to odds to be firmly stacked in my favour and its generally after all the excitement has died down.  The retail market get sucked into large news events on the fear they may miss a big move.

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FTSE Trading Report - 13 June 2012

The FTSE is still holding 5391 so rallies towards 5519 can be expected.

If today turns out to be a consolidation day then tomorrow could be a good day for the 5 minute bar system.  We also have triple witching on Friday so I will be looking to sell any price spikes to the UP side between 10.10am-10.20am.

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FTSE Trading Report - 12 June 2012

A nice easy trade was met at the open yesterday and all the gaps have been filled in one go.  Expect continued volatility for the rest of the week as investors brace themselves for the Greek election. If greece exits the Euro this could trigger a run on banks and investors are wary of this.  I therefore expect any strong rallies to be used as opportunities for investors to reduce risk exposure leading into the weekend.

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FTSE Trading Report - 11 June 2012

Big gaps up on the FTSE this morning after the Spanish bail out news.  Uncertainty still remains in the markets so I expect the gaps to fill but we may not see the entire distance reached today.

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FTSE Trading Report - 8 June 2012

No real change to my analysis from yesterday.  This is an upward correctional move which is either over or there is another rally above 5500 due.

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FTSE Trading Report - 7 June 2012

The FTSE rallied on the speculation of stimulus yesterday. At this stage it is just that ''speculation'' and with no resolution to Spain expect strong rallies to be sold by traders.  The trend for the FTSE is still down and what we are seeing is the market reacting to an over sold position and funds taking advantage of depressed prices. 

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FTSE Trading Report - 6 June 2012

The FTSE did penetrate 5268 on Friday and we in turn saw increased selling and an out of hour move down to 5180. Whether we reach the full target at #### CLIENTS ONLY is unclear as there are current crisis talks over Europe and we have Ben Bernanke testifying tomorrow.  If stimulus is indicated the markets will rally.

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FTSE Trading Report - 1 June 2012

Today we have non farm payrolls which is at 1.30pm. Often a key market mover so the next major move will be decided after this news.  Even if the news is very positive and we rally I expect traders to book profits before the end of the day and a sell off to come in. Why?  Because the market's are shut for the next 4 days and with Spain on the verge of collapsing, would you want to be holding onto long positions over the weekend? The market could rise towards 5390 if the Non farm payrolls is very good.

Its also the 1st of a new month where funds commit new monies into the market.

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