5860 is a key level this morning. If the FTSE falls back towards 5850-5845 at the open and then recovers above 5860 then higher prices are likely. If the FTSE fails at 5860 at the open and drops below 5841 then lower price towards 5811 are indicated today.
When I met Mark I was enormously impressed with his FTSE trading abilities, so much so that I decided to recommend him to my clients. John Piper
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Tuesday, October 9, 2012
Monday, October 8, 2012
FTSE Trading Report - 8 October 2012
The FTSE failed between 5875-5885 on Friday after the good employment numbers which is the level we discussed and its a sign the index will struggle to maintain price action above 5900 going forward.
Friday, October 5, 2012
FTSE Trading Report - 5 October 2012
Its Non farm pay rolls day and as a result we may see consolidation for the morning session as traders avoid taking large positions before the news.
Full analysis in Mark's FTSE Service
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Read the analysis in Mark's FTSE Report. Click here for subscription details.
Full analysis in Mark's FTSE Service
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Read the analysis in Mark's FTSE Report. Click here for subscription details.
Thursday, October 4, 2012
FTSE Trading Report - 4 October 2012
Neutral today with Non Farm Payrolls tomorrow. If the NFP figure is bad we could see the market retrace towards 5700.
Wednesday, October 3, 2012
FTSE Trading Report - 3 October 2012
My analysis remains the same as yesterday regarding the 5750 - 5860 range. Please refer back to yesterday's report. If non farm payrolls is bad on Friday then the FTSE is going to struggle to get above 5900 for some time.
Tuesday, October 2, 2012
FTSE Trading Report - 2 October 2012
An impressive 1st of the month rally yesterday will have many traders caught on the short side below 5750. This means if we are going to see another wave of selling it will most likely happen towards the end of the week when traders give up and close positions. Up side may also be limited as traders are waiting for Non Farm Payrolls on Friday.
Monday, October 1, 2012
FTSE Trading Report - 1 October 2012
Good morning, we had a negative outside day on Friday which is when the market makes a new high and new low when compared to the previous trading day and closes lower. This is a bearish signal. If the FTSE cannot gain ground above 5740 straight after the open then more selling towards 5700 can be expected today.
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