Anyone scalping the FTSE Futures??

Despite the heavy losses suffered by Wall Street and the uncertainty in Asia, European markets are expected to remain resilient, at least at an early stage. In any case, investors are still nervous and sentiment is still particularly fragile. Developments in China in recent months raise a number of issues that shake the convictions that investors had before the summer. In addition, some investors are wondering if falling stock markets worldwide will not be a sign that the world economy will enter a slowdown phase. While these doubts are not dissipated, the market will continue to seek a balance, a process that usually translates into higher volatility.
 
FTSE 6138/100 back in play today, I favoured the downside today but old mother seems to be all over the place, 6100 still the one to watch for now I think.

Some Gann/cycle traders are looking to a possible scary 5th wave dunk on the S&P with mid September as the bottom, seems clear on the US markets and Dax/Cac but they could also be coming off a C wave with I & 2 completed and three to take us to the moon :)

If it works you heard it here first:cheesy:
 

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In the pre-opening, European equities were trading higher, favored by the strong appreciation of Wall Street and the relative stability of the Asian session. It is not excluded that the standard of yesterday’s session to be repeated today. Yesterday, there has been a remarkable over-performance of the indices of Central Europe comparing to their Iberian counterparts. The reason for this trend is related to the fact that Central Europe’s economies have greater exposure to China than countries like Spain, Italy and even Portugal. Apart from exports, several German companies and other Central European countries have factories in China, which increases their dependence to this country. Today will take place the meeting of the ECB, which will have less interest than usual. The main point of interest will be the update of the economic projections. Since June’s projections, the situation in Greece became less unstable but the slowdown of the Chinese economy has become more evident. The ECB estimates that the GDP of the Eurozone grow 1.50% in 2015, 1.90% in 2016 and 2% in 2017. Some economists expect the ECB to revise downwards their projections for inflation (0.30% in 2015 and 1.50% in 2016 ). At the press conference, held at 13:30 it will be interesting to see if Mario Draghi will weave any comments on the impact of instability in China in the Eurozone economy.
 
Some cheerful reading, now have a good nights sleep y'all!

http://www.zerohedge.com/news/2015-...lf-selling-completed-expect-downside-price-ri

In summary, we estimate that only about half (or slightly more than half) of total technical selling was completed to-date (mostly completed by VT funds, half by CTAs, and a smaller fraction by RPs). We estimate that a further ~$100bn of selling remains to be completed over the next 1-3 weeks. As a result, we expect elevated volatility and downside price risk to persist. In our view, the risk/reward for equity investors remains in favor of waiting, rather than being fully invested until there is more clarity from macro data and central banks.
 
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