FTSE Trading Report - 30 November 2012

Its the last trading day of the month and its also a Friday which often attracts profit takers.  Given the strong close yesterday at 5870 I don't expect fireworks but more of a consolidation session between 5785 – 5745 [Read the full report]

FTSE Trading Report - 29 November 2012

The FTSE's main session yesterday was very negative after trading below 5792 for the first hour of trade. This eventually led to a break below 5770 on high volume. A strong negative signal however the unexpected political statement regarding the fiscal cliff led to a sharp rally in the US which has dragged the FTSE back above 5800.  The pattern still looks corrective [Read the full report]

FTSE Trading Report - 28 November 2012

The Greek news failed to deliver sustained buying action yesterday and the market sold off after a very brief price spike to the upside. The news was already priced in as we expected.  A break below 5770 whilst we avoid trading above 5830 will lead to more selling [Read the full report]

FTSE Trading Report - 27 November 2012

The Greek deal was agreed after hours yesterday and FTSE futures are marked higher as a result. The question is how much of the deal is priced in. Its likely a fair bit so even if we did rally this morning I would expect this to fail in the 5830-5850 range.  The open could be volatile as the big funds adjust some of their positions which were linked in the deal [Read the full report]

FTSE Trading Report - 26 November 2012

The FTSE was dragged up by the US markets last week on low volume. The FTSE price action is bullish above 5780 but we could easily see this market pull back early this week. The US markets need to digest the large move from last week before heading higher  - if they are going to head higher..... If the rally continues from here it would start to look like a bear market rally [Read the full report]

FTSE Trading Report - 23 November 2012

The FTSE edged towards 5800 yesterday on very low volume which was on the cards if we broke above resistance at 5780.  In terms of today's action we have had a bullish week so its unlikely we will see a big sell off today. Instead we can expect another consolidation day [Read the full report]

FTSE Trading Report - 22 November 2012

The FTSE is making higher highs and has closing UP for three days which although is bullish the price action is not supportive.  Yesterday we broke above the October 26th low at 5753 with no volume backed behind it.  The US is shut today for thanksgiving so this afternoon could be quiet [Read the full report]

FTSE Trading Report - 21 November 2012

The FTSE has lots of sell pressure just under 5720. We have a dividend of just over 6 points to come off the FTSE which could cause some early selling for the FTSE.  Officially its a mixed bag today [Read the full report]

FTSE Trading Report - 20 November 2012

After a big rally yesterday the FTSE is likely to consolidate for the morning session.  The index now has support between 5700-5710 and resistance at 5740.   We have a closing gap just below resistance. We also have a large dividend today standing at 6.95. If we see 10 points higher from the 8am open price today we can expect some buying in the last hour of trade [Read the full report]

FTSE Trading Report - 19 November 2012

The FTSE is in a clear downtrend at present and we have lots of selling pressure at 5700-5710 which is where a layer of stops was previously present for traders who were long in the market. More selling can be expected towards 5580-5500 in the medium term. In the very short term we have thanks giving week in the USA and this often attract buyers.  The FTSE also closed on its lows on Friday which although is very bearish it also indicates everyone is already short in this market [Read the full report]

FTSE Trading Report - 16 November 2012

We also have expiry today between 10:10 am - 10:20am. Expect volatility around this time [Read the full report]

FTSE Trading Report - 15 November 2012

The FTSE closed below the MA 200 last night which is bearish. We can expect more selling towards 5650 and below in the short term [Read the full report]

FTSE Trading Report - 14 November 2012

The FTSE low yesterday was 5711 which prevented more selling as this is strong support and major in terms of preventing rapid selling.  After seeing a negative Friday followed by a negative Monday the trend is still down so I expect rallies to be sold this week [Read the full report]

FTSE Trading Report - 13 November 2012

The FTSE was unable to move above 5792 after I sent my update yesterday so some very low risk sell opportunities there for active traders.  This morning we have a magnet at #### (clients only) and we also have a very large dividend on the FTSE at 10.7 [Read the full report]

FTSE Trading Report - 12 November 2012

The FTSE fell below the MA 200 on Friday and the buy in just below (5715) was from the big funds (I will be sending a trading tip on this shortly) who like to buy just below the MA 200 on pull back's in the market. They also don't want to miss the anticipated Christmas rally [Read the full report]

FTSE Trading Report - 9 November 2012

The FTSE is currently trading between support at 5770-5780. The price action is key today. If the FTSE rallies off the open with out dropping below 5770 then we could see buyers step in if the index then trades above 5800 and holds this level [Read the full report]

FTSE Trading Report - 8 November 2012

We had a big negative outside day on the FTSE yesterday so its likely the lows at 5790 will be revisited either today or tomorrow [Read the full report]

FTSE Trading Report - 7 November 2012

The FTSE has resistance this morning at 5918. If the index sells off initially (down to 5882) and then recovers above this level then this is bullish short term [Read the full report]

FTSE Trading Report - 6 November 2012

The FTSE is trading just under its trusted resistance level today at 5860. I do not expect a sustainable rally to form before the actual election results tonight. If investors are wanting to buy this market they will most likely wait for the news to come out.

The dividend is 5.6 today [Read the full report]

FTSE Trading Report - 5 November 2012

We had an inside trading week last week which is when the FTSE trades within the cash range of the previous week. This indicated we will see a strong break out this week between the current support at 5783 and current resistance at 5918. Such a move would tie in with the presidential election.

FTSE Trading Report - 2 November 2012

The quick dip below 5780 followed by a quick recovery above this level yesterday proved to be a very low risk/high reward trade and highlights the importance of being patient for solid low risk/high reward trades. These trades can make a big difference to your wealth. As a trader one of the best skills to conquer is patience and its something we discussed in great detail at our seminars over the last few days.

We have non farm payrolls today and its likely traders were buying anticipated good news from the employment figures at 12.30pm today.

FTSE Trading Report - 1 November 2012

The FTSE closed last night just above support at 5780.  The question is will we get a bounce from here before we fall towards 5700. Well its the first of a new trading month and these are generally bullish days with funds committing cash monies.