FTSE Trading Report - 31 October 2012

The FTSE has rallied up towards 5860 as per our analysis and we have duly fallen away....for now. The US has been shut for 2 days so its difficult to call where this afternoon's action will take us.

FTSE Trading Report - 30 October 2012

Hurricane Sandy will keep American markets shut again today so the FTSE will most likely have another quiet session.  The US markets are due to open tomorrow. In terms of trading opportunities the second half of this week could be generous as volatility increases:

FTSE Trading Report - 26 October 2012

Big gaps down on the FTSE today and if we open below 5788 today it suggests more selling today towards 5710.

FTSE Trading Report - 25 October 2012

Yesterday we had a consolidation day which was on the cards.  I avoid the 5 min bar system on these days as the market is likely to be choppy early on. If you are attending my seminar next week in London I will be covering ''advanced selection'' for the best days and the worst days to use this entry system.

FTSE Trading Report - 23 October 2012

The FTSE stays positive above 5870 and this served as a very good level yesterday for any buy opportunities.  Whilst above 5870 the FTSE stays positive and targets 5950 (key resistance).

FTSE Trading Report - 22 October 2012

Its the Monday following expiry so the action during the first hour of trade usually gives a good idea of how the week is going to play out. 

FTSE Trading Report - 19 October 2012

We have expiry today which will take place between 10.10am  - 10.20am.  Its common to see choppy price action before this event

FTSE Trading Report - 17 October 2012

The FTSE is positive in the short term and higher prices towards 5900 can be expected.

FTSE Trading Report - 16 October 2012

The FTSE held 5793 in yesterdays afternoon session so the index stays positive for now. The dividend is 1.1 today.

FTSE Trading Report - 15 October 2012

We are now in the third week of October and although the market is weak we have not seen a decent sell off yet.  I would expect this to start this week if we are going to see this.  Although I do not see price action sustainable above 5900 for October we could easily see a strong rally develop around the US election period (beginning of November). 

FTSE Trading Report - 12 October 2012

Yesterday's price action at the open signaled the short term trend is still up. As mentioned on yesterday's report if we had not seen buyers come in at the 8am open straight away after the 3 down day pattern then it would signal a bearish change.

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FTSE Trading Report - 10 October 2012

The FTSE has mixed signals this morning. We had an outside day yesterday which means the FTSE made a new high in the market which failed (when compared to the previous day) and we closed on the days lows. This is negative. If the FTSE fails to gain ground above its previous close today at 5810 we could see this decline extend towards 5720

FTSE Trading Report - 9 October 2012

5860 is a key level this morning.  If the FTSE falls back towards 5850-5845 at the open and then recovers above 5860 then higher prices are likely. If the FTSE fails at 5860 at the open and drops below 5841 then lower price towards 5811 are indicated today.

FTSE Trading Report - 8 October 2012

The FTSE failed between 5875-5885 on Friday after the good employment numbers which is the level we discussed and its a sign the index will struggle to maintain price action above 5900 going forward.

FTSE Trading Report - 5 October 2012

Its Non farm pay rolls day and as a result we may see consolidation for the morning session as traders avoid taking large positions before the news.

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FTSE Trading Report - 4 October 2012

Neutral today with Non Farm Payrolls tomorrow.  If the NFP figure is bad we could see the market retrace towards 5700.

FTSE Trading Report - 3 October 2012

My analysis remains the same as yesterday regarding the 5750 - 5860 range. Please refer back to yesterday's report.  If non farm payrolls is bad on Friday then the FTSE is going to struggle to get above 5900 for some time.

FTSE Trading Report - 2 October 2012

An impressive 1st of the month rally yesterday will have many traders caught on the short side below 5750. This means if we are going to see another  wave of selling it will most likely happen towards the end of the week when traders give up and close positions.   Up side may also be limited as traders are waiting for Non Farm Payrolls on Friday.

FTSE Trading Report - 1 October 2012

Good morning, we had a negative outside day on Friday which is when the market makes a new high and new low when compared to the previous trading day and closes lower. This is a bearish signal.  If the FTSE cannot gain ground above 5740 straight after the open then more selling towards 5700 can be expected today.