Anyone scalping the FTSE Futures??

[Dick Lexic]

Well done Dick. Take the rest of the day off. Go to the seaside. Have a paddle. Get hypothermia. Go home have a nice hot chocolate. Do it all again tomorrow.

I did think we would get an up day today after the break of the trendline on the daily, but I am a little surprised by the strength of this move up. I have a trial swing trade on short at the top just now and will hold it till tomorrow and see if we get continuation of the move down. The ES has retraced 100% of the down move since friday evening and not gone much higher, but I will be watching the US open closely later today.

thanks martin, i've had a moon at the screens, old franky boy sinatra singing "i did it my way" and a nice cup of tea.. think i'll pass on the paddle

back to business ...think we might have support at 5720 now? cash

 

[DaddyJohn]

Well... didnt quite make my 5692... but got close and capped the move quite well..

any ideas about what happens next?? answers on a postcard..

 

[Dick Lexic]

Well... didnt quite make my 5692... but got close and capped the move quite well..

any ideas about what happens next?? answers on a postcard..

it aint over..it's not happy with 720 so it might go 692 yet..still hope we can stay above 700 cash

 

[MartinC-J]

Well... didnt quite make my 5692... but got close and capped the move quite well..

any ideas about what happens next?? answers on a postcard..

John, are you still using Taylor? I can't tell what day we are on at the moment. It looks like a Z or a buy, but I am having trouble fitting a 4 or 5 day cycle to the last few days.

What next? My answer on a postcard depends on Chicago PMI at 2:42pm. I do actually think the high of the day is in already and we will eventually break down through 5660 futures, and sell off strongly thereafter. The US is still looking fairly bullish and if they take it up after the data then we should go back to the highs again. I think a pullback is long overdue and I still favour a sell off. Can they do it before NFPs on friday, well the next 24 hours will confirm it.

 

[DaddyJohn]

John, are you still using Taylor? I can't tell what day we are on at the moment. It looks like a Z or a buy, but I am having trouble fitting a 4 or 5 day cycle to the last few days.

What next? My answer on a postcard depends on Chicago PMI at 2:42pm. I do actually think the high of the day is in already and we will eventually break down through 5660 futures, and sell off strongly thereafter. The US is still looking fairly bullish and if they take it up after the data then we should go back to the highs again. I think a pullback is long overdue and I still favour a sell off. Can they do it before NFPs on friday, well the next 24 hours will confirm it.

I am still using Taylor .. currently in middle of a three weekly cycle to put in some lows.. whilst pretending to look strong... in my view we were in a short sell day of a downward movement...

If I am right (not an expert you understand) we should get up to 5706-12 .. but would like to see a bot mroe of a retracement from where we are here before it makes that number... then it goes lower below 5600.. start bottoming out end of week.. ready for push up ..

this is just a hypothese.. so wait for the set ups and ensure a good trade trigger..

 

[MartinC-J]

I would never have thought today was a sell short day, but maybe something will happen this afternoon.

 

[DaddyJohn]

I would never have thought today was a sell short day, but maybe something will happen this afternoon.

did you see the bearish gartley on the 5 minute chart??.. you have to watch for these.. classic move to get you all long .. then BANG.. down it comes

 

[Dick Lexic]

ha, would you beleive it s&P at 1311 cash

 

[Sidekicker]

Was about 100pts difference yesterday between FTSE and DOW.
Huge difference.

On another note, my FTSE levels attached below:

 

[Dick Lexic]

no prizes for guessing where the s&p is at

 

[Dick Lexic]

spoke too soon ?...also 1308 is 61 fib hourly cash

 

[Dick Lexic]

yum yum yum this looks goooood

 

[MartinC-J]

Just tagged the 161.8% extension on the 1 hr chart. We haven't had any real pullbacks since the open. There has been firm support from the MBB on the 5 min chart (same as the 8 period SMA) all the way up. I wouldn't consider any shorts unless the support fails and survives a retest.

 

[MartinC-J]

No signs of a significant sell off yet. That was a very bullish move up this morning, and if anything it looks like we should retest the highs, but it has been slow going for the last 2 hours. The ES might try and tag the 127% extension at 1321.62. I would be inclined to take the double top on the FTSE at 5726 if it got there again. Then all eyes should be on the ADP Non Farms at 1:15pm

 

[Dick Lexic]

maybe the move down from the 26th was all buying ....possible good numbers nfp?....then up to 850...wind my neck in

didn't even know nfp was today thanks martin

 

[MartinC-J]

maybe the move down from the 26th was all buying ....possible good numbers nfp?....then up to 850...wind my neck in

didn't even know nfp was today thanks martin

It's the ADP NFPs not the Labor Depts NFPs. There is some correlation between the two. ADP NFPs will move the price if it is a big surprise, otherwise I would expect some drift down over lunch and possibly the yanks buying at 2:30pm. It's a 10 pt gap on the ES at the moment, so they may try to close half of that gap before taking it up again.

On the daily chart, the reversal has not happened as I thought it might. If the ES makes it below yesterdays low of 1302.25 then it may be back on again.

 

[Dick Lexic]

well even so it looks kinda bullish to me maybe the s&p will go from stinker to stomper

i'm on the side see how ftse deals with 750 cash

 

[MartinC-J]

Well there hasn't been a sell off after the disappointing ADP Non Farms, so it's now up to the Manufacturing PMI at 3:00pm

 

[DaddyJohn]

Hi all, I said I expected 5706-12 today ,, but this has passed that mark..

looking bullish.. but am sceptical... if PMI is worse , then we know what happens.

I really thought we would make another leg down before moving higher.. but can't argue with the price action.

 

[Chalky_trader]

Hi All

Can i ask a slightly off thread question?

Who do you guy's use for daily economic Data?

IGIndex have stopped their weekly email and i am struggling to find a reliable source that is easy to read / print etc


Thanks