Mark Austin FTSE Trading Service Update - 8th Sept 2010

 Good morning

There are three main areas that I look too when placing trades.  Price action / Elliott Wave Theory and Systems.

At present the price action is giving off mixed signals.

Bullish influences -

We broke 5400 yesterday but we closed above this level.( current support for this move up)
The MA 10 and 20 have crossed on the daily chart (see attached daily chart)

Bearish influences -

There is a clear bearish divergence on the daily chart.  The MACD does not support the recent moves up. Volume is not behind these moves.

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