Its the Monday following expiry so the action during the first hour of trade usually gives a good idea of how the week is going to play out.
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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Monday, October 22, 2012
Friday, October 19, 2012
FTSE Trading Report - 19 October 2012
We have expiry today which will take place between 10.10am - 10.20am. Its common to see choppy price action before this event
Wednesday, October 17, 2012
FTSE Trading Report - 17 October 2012
The FTSE is positive in the short term and higher prices towards 5900 can be expected.
Tuesday, October 16, 2012
FTSE Trading Report - 16 October 2012
The FTSE held 5793 in yesterdays afternoon session so the index stays positive for now. The dividend is 1.1 today.
Monday, October 15, 2012
FTSE Trading Report - 15 October 2012
We are now in the third week of October and although the market is weak we have not seen a decent sell off yet. I would expect this to start this week if we are going to see this. Although I do not see price action sustainable above 5900 for October we could easily see a strong rally develop around the US election period (beginning of November).
Friday, October 12, 2012
FTSE Trading Report - 12 October 2012
Yesterday's price action at the open signaled the short term trend is still up. As mentioned on yesterday's report if we had not seen buyers come in at the 8am open straight away after the 3 down day pattern then it would signal a bearish change.
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Wednesday, October 10, 2012
FTSE Trading Report - 10 October 2012
The FTSE has mixed signals this morning. We had an outside day yesterday which means the FTSE made a new high in the market which failed (when compared to the previous day) and we closed on the days lows. This is negative. If the FTSE fails to gain ground above its previous close today at 5810 we could see this decline extend towards 5720
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