FTSE Trading Report - 31 August 2012

We have the Jackson hole Fed meeting this afternoon commencing at 3pm so we could well see volatility come into the market when Ben Bernanke starts talking.  If we are trading near parity (5719) just before the US markets open then the tunnel strategy can be looked at. At this time of day there will be some attractive prices if the market if trading flat.

FTSE Trading Report - 30 August 2012

The failure to fill the closing gap yesterday at #### (CLIENTS ONLY) and a break down through 5748 was a negative signal for the FTSE and one we discussed on yesterday's report.

FTSE Trading Report - 29 August 2012

We now have 3 Doji candlesticks in a row on the daily chart which reflects clear indecision in the market. I expect better signals and price action from next week onwards when the larger traders return to their desks.

FTSE Trading Report - 28 August 2012

The FTSE will open this morning after 3 days shut so expect higher than usual volatility as pending orders are triggered in the market.  We should see the 1st 5 minute bar length traded today.

FTSE Trading Report - 24 August 2012

As its a Friday we could well consolidate today.  The FTSE held our key trend figure of 5762 yesterday by a few pips

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FTSE Trading Report - 23 August 2012

The FTSE has traded down towards our target. At this stage if we see another end of day close below 5820 then profit taking could extend towards #### (CLIENTS ONLY) .  If we close above 5820 today then another push towards #### (CLIENTS ONLY) is likely before we drop again. 

FTSE Trading Report - 22 August 2012

If the FTSE opens below 5833 today that is a negative signal and a subsequent move below 5820 would indicate 5876 is a short term top in this market with 5750 as an initial target.  

FTSE Trading Report - 21 August 2012

Flat markets remain this morning but what I will point out is that markets have far more patience than people so once people give up on their view the market will move.  Rather than wait for the move we will continue to use low risk entry methods to capitalise on a large move which will soon break out. 

FTSE Trading Report - 20 August 2012

The FTSE looks set to open in very familiar territory.  As per last week if we see the the FTSE holds above 5850 during the first 5 minutes of action then higher prices can be expected. A fall below 5850 which stays below this level just after the open will signal a down day.

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FTSE Trading Report - 17 August 2012

The FTSE held our important 5810 level again yesterday and we are back to where we were yesterday morning. We have expiry today so price action may come alive after this event (10.10am -10.20am) or we will see a large move on Monday morning. As its August there is the risk we have a quiet expiry.

FTSE Trading Report - 16 August 2012

No real change on yesterday's report as we remain in quiet range bound activity. However, we do have options expiry tomorrow which may break this dull period.  The tunnel strategy should therefore be considered tomorrow. If we have a quiet expiry then expect a large move to come in first thing on Monday morning.

FTSE Trading Report - 15 August 2012

August holidays still have their grip on the markets and we are seeing little action.  We are opening flat this morning if you take into account the dividend.

FTSE Trading Report - 14 August 2012

We saw a brief decline yesterday towards 5812 which was our daily target and 5810 (short term support) clearly held. The pattern suggests we will see a further move up towards 5900 whilst we trade above 5810. I then expect a move towards 5750.

FTSE Trading Report - 13 August 2012

Whilst the FTSE trades above 5810 higher prices towards 5900 can be expected however the market is making higher highs with little buyer participation (the buyers are running out).  A pull back is therefore likely. 

FTSE Trading Report - 10 August 2012

The FTSE has just been consolidating on its highs this week and we now have 5 higher highs in a row. Its unlikely we will see another strong weekly close with this price action. 

FTSE Trading Report - 9 August 2012

As the market is currently trading above 5845 the FTSE could extend towards 5900 in the very short term before we see some healthy profit taking come in down to 5750-5700. We are near a top.

FTSE Trading Report - 8 August 2012

Yesterday the FTSE closed on its highs for the day which may appear bullish but in actual fact it was all connected to the dividend rally in the last of hour trade which we discussed yesterday morning.  It should also be noted that markets tend to top out when they close on their highs (after a large rally) as everyone has become a buyer.

FTSE Trading Report - 7 August 2012

Today we have a big dividend on the FTSE standing at 25.4 points.  What this means is we will most likely see buying in the last hour for the index today, so 3.30pm - 4.30pm. It also means that tomorrow morning if we open above today's closing price at 4.30pm (what ever that may be) we will have an easy sell at the 8am open as these 25.4 points will need to be taken off the real market.

FTSE Trading Report - 6 August 2012

This morning the FTSE has key resistance at 5812 which was the market high on the 1st May 2012 and may give a negative reaction. A break through this level is bullish and will indicate the FTSE is on course to retest the 2012 highs as along as 2 x end of day closes below 5720 is avoided. 

FTSE Trading Report - 3 August 2012

No solid news came out of the FOMC meeting or the ECB meeting and we have seen another failure at new market highs.  There may not be any solid news after today until Sept/Nov which means the rest of August is vulnerable to investors taking profits on this recent rise we have been seeing since June. I would expect to see the market to drop back to 5550 in the next few weeks.

FTSE Trading Report - 2 August 2012

We have more key news today with the ECB meeting at 12.45 today.  This could be a market mover for the FTSE so keep an eye on this.   If the FTSE is trading near parity (5712) late morning the tunnel strategy can be considered, selling the lowest range at the highest price.

FTSE Trading Report - 1 August 2012

5705 was the top of our range before the FED meeting tonight and we have seen another reversal at 5700. This is again negative action. The bottom of the pre FED meeting range is 5590.  With the FED meeting tonight I would expect this range to break in the next 48 hours.