Good morning
The FTSE was closed yesterday and we had a fair bit of action out of hours. On Friday I mentioned we should have a short term bounce and positional traders should look at taking positions from 5220. The futures actually rose to high of 5266.
The markets are weak and buyers are not supporting higher prices. The trend remains firmly down. Only a move above 5310 would change my view that a break of 5000 is not imminent.
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Tuesday, August 31, 2010
Friday, August 27, 2010
Mark Austin FTSE Trading Service Summary - 27th Aug 2010
Good morning
The FTSE briefly popped its head over the 5165 mark yesterday (the 5167) . False break. The USA also completes its week of important news with GDP at 1.30pm today. Most investors will be waiting on the side lines until all these news releases are out the way before entering. So again this may be a short term reason for buyers to enter the market.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
The FTSE briefly popped its head over the 5165 mark yesterday (the 5167) . False break. The USA also completes its week of important news with GDP at 1.30pm today. Most investors will be waiting on the side lines until all these news releases are out the way before entering. So again this may be a short term reason for buyers to enter the market.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Thursday, August 26, 2010
Mark Austin FTSE Trading Service Summary - 26th Aug 2010
Today we closed our FTSE ladder position and also took a tunnel trade. The FTSE ladder 5100 position was taken earlier this week in conjunction with my analysis calling for the FTSE to close sub 5100 at the end of the week. (4.30pm Friday). Although this is still possible with time running out and some bullish signs appearing I closed the remaining half of the profit out early.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
Mark Austin FTSE Trading Service Update - 26th Aug 2010
Yesterday we saw the FTSE penetrate 5100 but prices have been rejected and FTSE futures have rallied since the close of yesterday (5109). We need to fall from here (5150) to confirm a final move down towards 5020. If we move through 5165 we may have to prepare for a counter trend rally. A camarilla break out point also lies at 5157 which ties in with this analysis. Although I'm not expecting too much upside and the market will most likely seek out an unfilled closing gap at 5234 from a few days ago. I would go long on a break but the reward is not strong enough and I would prefer to short near to 5230.
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com
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