FTSE Trading Report - 28 February 2013

Its the last trading day for February and its also the last day for the Sequester deadline in the States so we could see volatility today and difficult price action.

The rally from the US yesterday has driven the FTSE higher and is a clear indication the market is pricing in a solution to avoid budget cuts. If the deadline passes with no problems then new highs are likely towards 6450 going forward. If there is a problem and the market has not priced this in then we will see a sell off [Read the full report]

FTSE Trading Report - 27 February 2013

The FTSE high yesterday was 6294 which was 50% of the extreme gap which was a target of ours and also 38.20%  Fibonacci retracement of the move from 6355 to yesterday's low at 6258. Its therefore a good place for the final part of the correction  [Read the full report]

FTSE Trading Report - 26 February 2013

Budget cut fears in America and Italian instability has plunged the FTSE towards our medium term target at #### (Clients Only) over night.   The deadline for the budget cuts is on Friday for the US so we could see further weakness over the next few days and then once the deadline passes the market is free to be bought up again. A similar situation to the fiscal cliff saga back in December [Read the full report]

FTSE Trading Report - 25 February 2013

The UK was downgraded at the weekend however most of this news is priced into the market and its a big reason why cable has been falling for the last month. For this reason its important traders do not presume the market will fall today and instead let the price action confirm any decision making [Read the full report]

FTSE Trading Report - 22 February 2013

The break below 6340 was negative for the FTSE yesterday and we saw one of my lower targets at 6270 just about hit [Read the full report]

FTSE Trading Report - 21 February 2013

Strong support lies at 6340 today.  Below this level and selling will accelerate towards 6310. If we then break below 6300 then expect to see 6270 [Read the full report]

FTSE Trading Report - 20 February 2013

We had a positive outside day yesterday which means we observed a new low and a new high when compared to the previous trading day and closed higher. This coupled with 6300 holding yesterday at the 8am open and an end of day close above 6350 means the FTSE will likely trade towards 6400 whilst price action stays above 6350.

FTSE Trading Report - 19 February 2013

Today we have a 8 point dividend on the FTSE which should have a bullish effect if the FTSE holds above 6300 this morning [Read the full report]

FTSE Trading Report - 18 February 2013

The FTSE is drifting between our key resistance level at 6350 and support at 6300.  If the FTSE holds 6300 again this morning and trades above 6350 yet again then its likely the index will make another attempt on 6380. Likewise a break down below 6300 this morning after Friday's failed attempt at 6350 is bearish 

FTSE Trading Report - 15 February 2013

Its expiry day on the FTSE which will take place between 10.10am-10.20am. For new traders its worth observing this price action.

FTSE Trading Report - 14 February 2013

Yesterday we saw a rally towards 6384 which to the naked eye does not represent major resistance but if you add the 17 point dividend which came off the market yesterday the market has achieved 6400 which is a major resistance channel.  We have to be careful getting too bullish here even though the market has made new highs. This is often the time the retail market get caught off side with extreme positive sentiment [Read the full report]

FTSE Trading Report - 13 February 2013

After a strong rally yesterday the FTSE may well consolidate for the morning session.  A likely range could be 6290 – 6330 [Read the full report]

FTSE Trading Report - 12 February 2013

The FTSE has a large dividend today standing at 17.3 so as long as we see #### (clients only) pips higher than the 8am open today we should see a bullish effect on the FTSE during the last hour of trade. Refer to appendix 2 in your manuals for further information on this [Read the full report]

FTSE Trading Report - 11 February 2013

The FTSE looks to be opening unchanged (same price as the close on Friday) this morning. The overall trend for the FTSE is still up but the recent correction looks to be incomplete with a final move towards 6170 due [Read the full report]

FTSE Trading Report - 8 February 2013

Stops went off on the break below 6236 yesterday to produce a low at 6216 in the market. When key levels are broken in the market they often produce a minimum move of 10-15 points purely down to stops being triggered. Something to note if you like break out strategies [Read the full report]

FTSE Trading Report - 7 February 2013

The breach above 6300 yesterday indicates we are still in the final remnants of wave 3 up.  If we trade above resistance at 6300 once again this morning its odds on today will be an UP day [Read the full report]

WE ARE NOW CLOSING THE SUB LISTS

We now have the number of subscribers wanted on Mark's FTSE Service and with effect from Friday 8th February we are CLOSING the subscription list.

We will be maintaining a waiting list for those who wish to subscribe with a view to re-opening the subscription list at some point - probably at an increased price.

Although not the purpose of this email you can still join up if you sign up before midnight on Friday - after that entry to the service will only be available via POM or if you attend my April seminar.

Happy Trading!

Mark Austin

FTSE Trading Report - 6 February 2013

If the FTSE is going to target 6200 next then it needs to avoid trading above 6300 this morning.  I have attached my current analysis for the market (Clients Only). [Read the full report]

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FTSE Trading Report - 5 February 2013

The final part of wave 3 UP failed to materialise yesterday which can often happen on these wave counts and the move towards 6200 is in progress.  

Tuesday's often retrace some of Monday's move if Monday [Read the full report]

FTSE Trading Report - 4 February 2013

The first trading day of the month (Friday) was a trending day after breaking the high of the first 5 min bar and the FTSE closed on its highs. We can therefore expect a consolidation day [Read the full report]

FTSE Trading Report - 1 February 2013

I wanted to buy below yesterday's close (6276) this morning as that would have been a dream set up. The reason being is the closing gap tends to get reached on Non Farm Payrolls day and funds commit new monies on the 1st of a new month which has a bullish tendency [Read the full report]