FTSE Trading Report - 28 September 2012

All focus on 5800 this morning. If we open above this level we could easily see a quick push higher towards 5826 just after the open. If however we open and drop straight below 5800 and stay below then we could easily see a large decline start today and towards 5720. 

FTSE Trading Report - 27 September 2012

A decent break of 5800 yesterday means we could well have a top in this market at 5932. If we do it would be very fitting. i.e all the retail market have bought stocks near the top of the market on the QE3 news.... 

FTSE Trading Report - 26 September 2012

The FTSE avoided trading above 5870 yesterday and we have duly seen the decline towards 5800.  We also saw a decent buy in for the last hour of trade yesterday for the dividend which we were expecting.

FTSE Trading Report - 25 September 2012

Another close below for 5860 is bearish for the FTSE so unless we see a quick recovery above 5870 today, the FTSE has a target at 5800.   If we see acceptance below 5800 (3 thirty minute candle bars) then its likely we have seen a short term top at 5932.

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FTSE Trading Report - 24 September 2012

The FTSE closed the week below 5860 on Friday which was a negative and we are back trading to pre QE3 price levels. The market was trading around 5820 before the QE3 announcement and we duly revisited this area last week which is quite normal as markets like to retest key break out levels however there is no reason for the market to be trading back at these levels for a second time.


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FTSE Trading Report - 21 September 2012

Today we have triple witching between 10.10am and 10.20am. Expect volatility between this time.

FTSE Trading Report - 20 September 2012

The FTSE held our key level at 5860 yesterday with 2 decent buy ins just above this level. This morning we are trading at this level once again. Tomorrow we have expiry and Thursdays before triple witching can be dangerous days to trade.


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FTSE Trading Report - 19 September 2012

Unless we see a clear break back below 5860 today (a full ten minute candle bar closing below this level) then higher prices towards 5960 are likely in short term.  

FTSE Trading Report - 18 September 2012

We have now seen 5866 which was a high probability target for the early part of the week and we have another target at 5820 for the rest of the week but this may take longer to reach i.e we could rally above 5900 again before this is reached.

FTSE Trading Report - 17 September 2012

Its mid month today so we could see funds commit new monies just after the open.  If we see higher prices above 5900 today / tomorrow I expect sellers to come into the market

FTSE Trading Report - 14 September 2012

QE3 was announced last night at the end of the FOMC meeting and we have duly rallied.  Can the market go higher? Well first of all we should never presume a market can not keep going on up after important new like this. It all depends on how much is priced into the market already.  So we will let price action give us clues.

FTSE Trading Report - 13 September 2012

We have had 3 quiet days in a row so the chances of a large move developing is increasing.  Today we have the FOMC meeting at 5.30pm in the US.  We could see traders positioning ahead of this statement.

FTSE Trading Report - 12 September 2012

The FTSE tested the key level at 5765 yesterday which was was a high probability target we had discussed.  The bounce upwards at this level is bullish and traders should be cautious shorting above this area.

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FTSE Trading Report - 11 September 2012

The FTSE has retested 5765 out of hours but not during hours just yet. This was a high probability level we discussed last week i.e the markets like to retest key break out levels where strong support/resistance lies.

FTSE Trading Report - 10 September 2012

We had a positive out side week last week which means we made a new low and new high when compared to the previous week and closed above the highs. This is a positive signal and keeps the FTSE trend positive.

FTSE Trading Report - 7 September 2012

Price action above the 5700 level was a positive yesterday.  We should see the FTSE hit 5800 during cash hours either today or early next week.

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FTSE Trading Report - 6 September 2012

We have 2 days full of key news ahead of us. Today we have the ECB meeting at 12.45pm and tomorrow we have non farm payrolls at 1.30pm. Both could be market movers so be aware of this. Usually I will sell some tunnels at 95 or above on days like this in case we get a strong market move from a statement.

FTSE Trading Report - 5 September 2012

An end day close below 5690 was a negative for the FTSE yesterday and the short term technicals are now negative. Today we have the MA 200 standing at 5654 and providing support (daily cash charts). It is from this area the majority of fund managers buy a bull market on pull backs. Therefore we will gain a good idea on whether the larger players currently see value in this market.

FTSE Trading Report - 4 September 2012

America was closed yesterday and with their markets opening on the first trading day of a new month we could well see a large buy in for them later on. This would push the FTSE up this afternoon.  The FTSE also has a 6.7 dividend today which will also have a bullish effect later on.

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FTSE Trading Report - 3 September 2012

This morning we have strong support at 5690 for the FTSE which should provide a positive reaction however if the FTSE opens at 8am and we see more than 5 mins of price action below 5700 then this is a negative for the start of the week and sellers could easily push the market lower this morning.