MAGNETIC FTSE Trading Report - 30 June 2017

Whilst below 7380 the FTSE could see a retest at the 7310 level again as its month end and GBP is strong so this will weigh on the FTSE today.

The FTSE gave all the bells and whistles yesterday with a break below 7400. A move below 7380 is good to see 7300.

I expect more downside now and the next target coming in at 7300

MAGNETIC FTSE Trading Report - 26 June 2017

On Friday we discussed the scenario of a rally just above 7470 if the FTSE could not cleanly break below Thursdays low. This appears to still be a likely scenario as no clean break was seen on Friday and will confirm if the FTSE pushes above 7449 this morning. Either way I am expecting a move down to 7300... signup to the full report here http://www.markaustintrading.com/promo/promo-half-price-offer.html

MAGNETIC FTSE Trading Report - 23 June 2017

Its possible today f we cannot break below 7398 (yesterdays low) then the FTSE could rally just above 7470 to take some stops out however then I expect the sell off to resume.   

I am expecting volatility to come into force soon so the markets could get very interesting!

MAGNETIC FTSE Trading Report - 21 June 2017

I still believe this is a market high for the summer months and that's why we are short on the FTSE longer term. 

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MAGNETIC FTSE Trading Report - 20 June 2017

Carney is speaking at 8.30am so this could have an effect on the FTSE today therefore no official trades.

MAGNETIC FTSE Trading Report - 19 June 2017

The FTSE remains neutral in terms of direction between 7450 - 7550. Given the market is range bound between here it makes sense to sell/buy at the extreme of this range. 

MAGNETIC FTSE Trading Report - 16 June 2017

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MAGNETIC FTSE Trading Report - 15 June 2017

Yesterday I mentioned that 7600 was likely to be a top in the market with the best strategy to sell rallies. This remains the case and yesterday put in a strong reversal closing on the days lows after pushing up in the morning session.

MAGNETIC FTSE Trading Report - 14 June 2017

The FTSE is rolling over and we appear to have a top in at 7600.  If the FTSE breaks below 7472 then we have a sell signal... 

MAGNETIC FTSE Trading Report - 12 June 2017

In the meantime the FTSE is neutral. The price action reflects the FTSE has topped at 7600 so I am not keen to buy even though the trend is still up.

I will look for more clues today for an official trade for service members.

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MAGNETIC FTSE TRADING Report - 09 June 2017

Its all about 7492 today. Whilst below here we can easily drop back down towards 7400 again. If we start breaking above 7517 then i will conclude the correction down is over.

MAGNETIC FTSE Trading - 08 June 2017

Resistance lies at 7485 today and whilst below here we should see a drop to 7450 at least. For short term traders they can unofficially look to sell the FTSE between 7483-7500 targeting 7455.

Its dividend day today which can have a bullish effect on the FTSE

The short term strategy now is to sell rallies

MAGNETIC FTSE Trading Report - 05 June 2017

Last week we got short at 7600 which could well be the high on the FTSE for quite a while especially if we break below 7497.

I expect to see 7500 before any movement above 7700.

Today starts a fresh month and the FTSE remains positive above 7500.