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.