FTSE Trading Report - 31 December 2012

Stock markets are marked down this morning with still no decision on the Fiscal Cliff.  The US has until the end of the day for an agreement. With the Christmas feel good factor now coming to an end the outcome of this decision will open up our next trading opportunities. Expect volatility which will be exacerbated by low volume as the news filters through.

Technically the FTSE is negative today if the market cannot recover above 5917 and targets [Read the full report]

FTSE Trading Report - 28 December 2012

Following on from yesterday's report the FTSE has rallied towards our medium term target at 6000 after holding key support at 5940. Yesterday's low was 5942. I don't expect to much action today and we could well consolidate and trade the over night range (5960 - 5980) for the 1st hour of trade [Read the full report]

FTSE Trading Report - 27 December 2012

Good morning

I hope you all had a pleasant Christmas.

Whilst the FTSE trades above 5880 we can expect a slow rise up towards 6000 as the last few days of a trading year are usually bullish and sentiment is positive. The market believes the fiscal cliff situation will be resolved 

FTSE Trading Report - 21 December 2012

The FTSE has hit our key level (5921) at the open of the futures market (7am). My analysis from the past 2 days stands. 5921 was a high probability target and now its a case of wait and see before we take a view on how we want to trade.  I want triple witching out the way (today) and the fiscal cliff deal concluded [Read the full report]

FTSE Trading Report - 20 December 2012

Good morning

There is no real change to my report from yesterday and the reference to the 5970-6000 range and targets at 5921 and 5810.   

We have seen a negative reaction already in the 5970-6000. Has the rally ended at 5977?  It all depends on the reaction when 5921 is eventually hit [Read the full report]

FTSE Trading Report - 19 December 2012

The FTSE is nearing the end of a rally (5970-6000) and from this stage I am looking for sell signals.  I don't like picking tops when there is key news floating around (Fiscal Cliff) as we cannot rule out a final push once an agreement is completed [Read the full report]

FTSE Trading Report - 18 December 2012

The FTSE gave a negative signal yesterday with a move below 5900.  The move through 5900 yesterday indicates the market will struggle to trade above 6000 going forward [Read the full report]

FTSE Trading Report - 17 December 2012

We are entering thin trading for the Christmas period this week.   Usually we see the market creep higher during this period on thin volume but we have seen a 350 point rise in 4 weeks so any strong rallies above 5950 are unlikely to be unsustainable going forward. Likewise the bulls will continue to buy the dips whilst we trade above 5890 [Read the full report]

FTSE Trading Report - 14 December 2012

If buyers are running out then a market will correct regardless of Christmas rally expectations. I am therefore not comfortable buying at these levels even though higher prices are likely and would prefer to position short when I see a clear signal.

Next week we could see some trending moves come into the market on low volume [Read the full report]

FTSE Trading Report - 13 December 2012

The trend remains up after 5916 held yesterday. A very low risk buying opportunity for those who used this level [Read the full report]

FTSE Trading Report - 12 December 2012

The FTSE has managed to trade just below my medium term forecast target at 5940, albeit on very low volume. Recent volume if low even for December standards. Last year the average weekly volume was averaging  887,892,000. At present its just 588,544,800. Its an indication the smart money is not participating in this rally [Read the full report]

FTSE Trading Report - 11 December 2012

The FTSE is set to open around the key level at 5916.  If we hold above this level early on we can expect a small rally towards 5940. The trend is still up but we do have layers of resistance between 5930-5940 [Read the full report]

FTSE Trading Report - 7 December 2012

We have non farm payrolls today at 1.30pm. Expect volatility at this time. The pattern suggests a move to 6000 but the price action is not supporting this [Read the full report]

FTSE Trading Report - 6 December 2012

The FTSE is drifting between the key levels mentioned on my report yesterday.  5864 and 5916. During the day session we traded towards the magnet at #### (clients only) and during the evening session the FTSE tested 5916. We still have no confirmation on the next move although if the FTSE does see a full 10 minute bar close [Read the full report]

FTSE Trading Report - 5 December 2012

We have 3 indecisive candle sticks on our daily charts to contend with today (FTSE Daily charts).  The price is not giving any clear signals however this will most likely change today which is the good news.

As you are aware we have a weekly magnetic target  and we have been focusing on sell trades for the beginning of this week [Read the full report]

FTSE Trading Report - 4 December 2012

An open below yesterdays low (5859) for the FTSE will be bearish today and support further selling towards our weekly magnetic target #### (clients only). Likewise an open above 5859 and the market subsequently trading above 5864 after the first hour of trade will support another rally. The dividend is 1.9 today [Read the full report]