Mark Austin FTSE Trading Update - 26 April 2011

Good morning

The key areas on the FTSE right now are 6055 and 5900.

On the attached chart you will notice the break out from 5900 at the beginning of April. Last weeks correction below this level can be counted as a bear trap for now however if we do see an end of day close below this level once again, expect the market to test 5700 rapidly.  

The full report and analysis is available by subscribing to Mark FTSE Service through this link only.

Mark Austin FTSE Trading Update - 21 April 2011

Good morning

After a strong rally yesterday FTSE futures are hovering close to 6055 today. As you will remember minus development at this level 10 days ago was a key factor which prompted us to position short for 5850. If the FTSE can hold this level this morning then new highs are imminent above 6106 and we will position long on a subsequent pull back.

Failure to hold this level is once again negative. 

Mark Austin FTSE Trading Update - 20 April 2011

Good morning

The FTSE will open strong today on the back of positive earnings from Intel which resulted in the markets gapping up just after the US close.

The market high yesterday was 5922 and this will be retested in the next few days.

With the inside trading day yesterday its possible the recent correction ended.

Mark Austin FTSE Trading Update - 19 April 2011

Good morning

The FTSE corrected yesterday to just shy of our 5850 target.  Its possible we have one more leg down towards 5800 to complete this pattern however this is not a prerequisite.

We are in still in a bull market but I will not consider positioning long now (medium term) until we have seen an end of day close above 5955 and the strategy will now switch to shorter term sets ups whilst we await the next clear swing trade.  

To access the full analysis including Marks trading opportunities you can click on this link

Mark Austin FTSE Trading Update - 18 April 2011

Good morning

The FTSE remains negative whilst acceptance above 6000 is avoided.  The first 2 parts of the correction are over and we are awaiting for the final stage to develop.  

A break below 5960 will confirm this short correction will indeed reach lower prices.

Its also worth noting we have a short term negative signal form last week's price action in the form of a negative outside week. The FTSE made a new high for week at 6070 but closed lower than the previous week.

Mark Austin FTSE Trading Update - 15 April 2011

Good morning

I am holding my seminar in Dorking today so the usual service will resume on Monday. http://www.markaustintrading.com/seminars.html

The FTSE is currently correcting based on our analysis from last week and so far the market action is correctional. We had discussed the magnet target at 6042 on Tuesday and the possibility of the FTSE reaching this before we fell. The sharp move towards this level on Wednesday fits with our overall analysis.

We have expiry today so we could see a solid move come in after lunch.

Mark Austin FTSE Trading Update - 13 April 2011

Good morning

We are currently short the FTSE with a target of 5850.

The first part of the decline started yesterday and we should see lower prices towards the end of the week with expiry coming into play on Friday.

For spread bets we do not want to see prices return to the highs at 6070. If we see this the analysis is compromised.