Mark Austin FTSE Trading Update - 31 March 2011

Good morning

Today is the end of the first quarter so we may see some window dressing from fund managers. In fact the fast rise over the last few days may have some connection to this effect so its unwise for investors to get overally bullish just yet.

(http://www.investopedia.com/terms/w/windowdressing.asp).

We cannot rule out further gains over the next 2 days but I do not anticipate a decisive break above 6000 before we retest 5900.

Our magnet target from yesterday remains live.....

Mark Austin FTSE Trading Update - 30 March 2011

Good morning

We saw a close above 5930 yesterday which has resulted in a new leg up
for the FTSE. As you'll recall yesterday I mentioned 5930 was where
the 50 Moving day average lay and a close above here was very
positive. This level was acting as previous resistance. This is pure
price action and many traders take note of such areas.

Mark Austin FTSE Trading Update - 29 March 2011

Good morning

Very slow action across global indices has left the FTSE flat over the last 24 hours.  Our medium term analysis remains positive unless we see a weekly close below 5808. 

In the short term we are still looking for a short pull - target 5720. However this will only activate if we see a break below 5860 or acceptance under 5900.

This is not the full report which you can access through this link here.

Mark Austin FTSE Trading Update - 28 March 2011

Good morning

For now the recent decline fits well for a standard correction in bull market. The fact that we retested the MA 200 and bounced straight away and we have just observed a weekly close above 5870 (the level which prompted the decline) does not support the view that we have seen a major top at 6104.

This can change but unless I now observe an end of week close below 5808 (previous Jan low) we are likely to see new highs in the coming months.

To access the full report including Mark's trading opportunities you can sign up through this link.

Mark Austin FTSE Trading Update - 25 March 2011

Good morning

The FTSE closed above 5808 and more importantly 5870 yesterday which indicates a low is in place at 5498 for the recent crash. The sell off didn't penetrate 5477 either so expect higher price over the coming months.

I am monitoring longer swing trade opportunities for you.

Mark Austin FTSE Trading Update - 23 March 2011

Good morning

After a clear rejection from 5808 yesterday the FTSE has fallen back and just about reached 5720.  Unfortunately I had chart problems yesterday but I have a attached the illustration showing the Jan low at 5808 on the weekly chart. To learn more and view this chart you can sign up to Mark's FTSE Trading Service through this link

We stay negative below 5870 in the short term but in the longer term do not forget we are still in a bull market until 5477 breaks (end of day close). 

Mark Austin FTSE Trading Update - 22 March 2011

Good morning

A very quiet session on the FTSE yesterday has done little to change the technical outlook for the index.

We still have a possible target at 5720 which i mentioned yesterday. If we look at price action this target will only become weakened if we see an end of day close above the January low of 5808. This can be seen on the weekly chart. Just above this level also lies resistance at 5830. This should contain prices to the downside however an upward break would be a positive signal and confirm we saw a bottom in the market last week.

The dividend tonight will be 2.6 so I don't expect this to have an effect on the index for the last 1.5 hours of trading.