FTSE Trading Report - 30 January 2012

We discussed good sales opportunities for a failure at 5800 on Friday and we have since fallen back.  The open today is very important to confirm whether 5800 will act as a short term top in this market.  As we know 5720 has been key support for some time and gapping below a key support level at the start of the week is a negative signal.

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FTSE Trading Report - 27 January 2012

A consolidation day is on the cards today early and we could well see the market trade the over night range (5760-5790) during the first 2 hours of trading.  The market will struggle to gain ground over 5800 as its Friday and traders will be squaring off positions so look at selling a failure at 5800. 

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FTSE Trading Report - 26 January 2012

The FTSE closed just above 5719.90 yesterday which I would imagine most of you were watching for. The close was 5723. As such we did not receive our sell signal that a major top is in place at 5790 and I would hope for those short in the lifestyle trade took profits at this point.   At this stage I am neutral and waiting for confirmation of the next pattern to trade. 

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FTSE Trading Report - 24 January 2012

A strong up day for the FTSE yesterday after holding key support at 5720.  We can't get too bearish whilst we trade above this level (5720) but I also think the index will struggle to gain ground above 5800 before a pull back to relieve over bought conditions. The daily RSI diverges negatively against current price action which supports my view for limited upside from here. In terms of a pull back , 5700 is the most likely area for now.  Once we see this area I can decide whether we have seen a top in this market or not.  This rally is all about squeezing the bears until they give up. Then we fall.  Yesterday would have a done a good job at doing this.

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FTSE Trading Report - 20 January 2012

Following on from yesterday's report I wanted to see the FTSE make a new peak at lunchtime and then fall away.  This is pretty much what happened but the US markets have dragged the FTSE up and we are once again trading at yesterday's lunchtime highs.  Right now we want to see some evidence that a top is in place. Its expiry today and key moves often come in after this event or first thing on the following Monday. In fact Monday morning signals after expiry can be one of the best time to confirm a move or pattern completion and offer a low risk entry.

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FTSE Trading Report - 19 January 2012

No real change to my view from yesterday. We have observed break outs above 5700 but buying has been short lived. This indicates that sellers are dominating over 5700 and any rally that does develop will be short lived.

Today if we open and hold 5700 we could well see one final blow off top and peak around lunchtime.

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POM PROGRAMME - 14 APRIL 2012

POM PROGRAMME - 14th April 2012

Mark Austin Trading

UK's Premier Online FTSE Subscription

 

Dear Stephen,

I was a little rushed last week taking bookings for my Systems and Gap Trading Seminar on 13th April - in fact we sold out!

It was hectic and I neglected to advise you that we have increased the price of POM - there is also a POM seminar on 14th April - and the deadline on the old price was meant to be last Friday.

But it is not fair to impose that on you without telling you, so this email is just to tell you that if you want to save £300 you still have a few days to go.

Here is the POM link at the old price...

http://www.markaustintrading.com/promo/POMaweb.html

The new price will take effect from midnight on Friday 20th January.

Best wishes,

Mark Austin
mark@markaustintrading.com
www.markaustintrading.com

Here's what my members say-

"Happy New Year to you! Thank you for the outstanding service you have provided this past year. I am a better trader now than I was at the start of 2011 - and that is largely down to your influence. Here's to a happy, healthy and prosperous 2012." Dave

 

Mark's FTSE trading service is designed for educational purposes only. There is a risk of loss in all trading. Spread Betting carries significant risk and should only be undertaken by those who can afford to lose some or all of their investment. Past performance is not indicative of future results. Before investing, or if in doubt about the suitability of an investment please seek independent financial advice. Mark's FTSE trading service is authorised under an arrangement with t1ps.com Ltd, which is authorised and regulated by the Financial Services Authority and can be contacted at 3rd Floor, 3 London Wall Buildings, London EC2M 5SY.