MAGNETIC Trading Report - 31 March 2014

Its the last day of the trading month and we usually see the closing gap fill on these days [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report - 28 March 2014

We are opening above the highs of a down day today so there will be no sell at open today.  March has been a negative affair for the FTSE so we could see some funds managers make their books appear a little more attractive for the month end which would push the FTSE up towards6625-6630 after the open however I would not expect the buying to last as its the last Friday of a trading month [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report - 27 March 2014

I have attached a chart this morning (main report) which shows a key break out at 6570 this week [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report - 26 March 2014

Big bull day yesterday for the FTSE puts a positive tone for the rest of the week with 6675 as a target however if we see an end of day close below 6568 this would be a negative at this stage  [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report - 25 March 2014

The FTSE is in a neutral zone today.

6526-6520 is a target zone and should be hit if we open in the 6530 range [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report - 24 March 2014

The FTSE has a layer of resistance between 6570-6576 today and whilst below this level we could see a brief sell off this morning into the 6530-6500 range  [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report - 21 March 2014

The FTSE crashed through 6534 yesterday but managed to close back above it so unless we see the FTSE break below 6490 then its not clear whether more selling will come into the market [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report - 20 March 2014

Tunnels worked well on the DOW last night for FOMC again - even the 200/200 tunnels came with superb risk reward. If you are selective and just use them on key days then overall its a very profitable strategy. The DOW was trading at parity (i.e had not moved) at 6pm last night so the effect of the news event was textbook [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report - 19 March 2014

The FTSE has key resistance at 6635 today and key support between6595-6580. Whilst between this range there is no clear trend at all.

MAGNETIC Trading Report - 18 March 2014

The FTSE bounced up yesterday which was on the cards however the index is still negative whilst we avoid 5 min bar acceptance above 6585 [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report - 17 March 2014

The short term trend is still down for the FTSE with no real major support until 6445 however we are getting a little over extended in the short term. If you look at the attached chart (subscribers only) you will see when the market gets over extended it usually pulls back to the MA 50 [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report - 14 March 2014

The FTSE crashed through support at 6600 yesterday and there is little stopping the index dropping towards the next support level at 6446 – 6400.

We have seen 5 down days and the FTSE did finish on its lows (which means everyone has sold already) so a brief bounce can be expected however I am not keen to buy this market [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report -

The FTSE is negative below 6680 and has no real support until 6446 [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report - 12 March 2014

Today the MFS 5 min bar no.2 is ok to use today but with reverse function [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report - 11 March 2014

Yesterday I mentioned 2 key levels in my report - 6680 and 6724. Just before the 8am open, 6680 just held and just after the open there was a strong reaction at 6724 before a sustained break later in the morning. We are now back in this pocket of support/resistance [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report - 10 March 2014

The FTSE is negative below 6724 and we can expect to see more selling towards 6610 if support at 6680 fails to hold just after the open [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report - 7 March 2014

Its NFP day so we could see some volatility later on at 1.30pm. Tunnels can be looked at today [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report - 6 March 2014

We should see 6777 after the open so we can sell the 8am open and target this [Signup For Mark's Trading Plan] 

MAGNETIC Trading Report - 4 March 2014

The dividend is 7.7 points today. Just shy of an official dividend trade

MAGNETIC Trading Report - 3 March 2014

Political issues in Ukraine have resulted in a big gap down on the FTSE this morning. 6730 is a key level this morning and if this breaks then further selling is likely to come in [Signup For Mark's Trading Plan]