FTSE 100 January

[bonsai]

mully, you know what its like with these veterans.
he's probably keeled over ?

lol

 

[adrianallen99]

Wonder how the FTSE will react to US today, would be nice to end on a positive note for the weekend, but I dont hold much hope.

 

[Hooya]

looks to be in sort of 5th (of c maybe?)

 

[mully]

Bonsai and all you Fib watchers.

Using the December-January run 4312-4529
gives the following Fibs

38%= 4446
50%= 4420
62%= 4395

We are at the 38% Fib level.

 

[bonsai]

thanks mully

 

[Hooya]

near breaking out of the channel

 

[bonsai]

don't know about ftse but the dollar seems to be having a good day ?

 

[barjon]

took a break after a couple of really dumb (even for me!) off-system trades when I got itchy fingered. Went looking for a Great Grey Shrike on the downs instead.

Well, we got the higher high last week, but ftse seems a bit delicately poised? I need a close below 4431 to change intermediate trend to down.

The weekly candlestick is uncertain so little help there. Friday's candle however was mildly positive on good volume - although it did follow a pretty evil negative on Thursday - so a bounce from here is maybe on the cards (dow close may cause a bit of down first?).

As usual, it will unfold as it will.

good trading all.

 

[Hooya]

and this is my wave count although having trouble counting
5legs in v of c so maybe completely wrong and there is more
to come on MOnday

 

[bonsai]

understand your concern

if nothing else, 4460 looks a hard nut to crack ?
and then there is 4475.

having failed to reach the top line on the rally, bottom channel line now at 4415 will probably be tested soon ?

we seem to be crawling up the channel line as though waiting for the Dow to crack.

keep your eyes on £/US ?

 

[Hooya]

I did finish on a buy signal on Friday short term but my 60 min chart is firmly pointing down still. Think that channel trendline will be there soon enough. Hoping this morning will give a few more
clues.

 

[bonsai]

lol
if you don't like resistance, just gap up through it ?

 

[Hooya]

lol...another open where the cash gaps up and the futs stay down. The last few, cash has come down to meet the futures.

 

[bonsai]

don't know if they may be of use to anyone but I have
put 2 min charts in my journal which cover the whole of last year.

 

[Hooya]

interested as always

 

[bonsai]

now they have taken out the stops, it's a fair bet (?) that the next move is down ?

 

[Hooya]

cmc's bid is still 7 points below cash at the mo which is keeping me out

 

[Hooya]

well my two morning pivots have been hit 77 and 43..now I have to wait

 

[bonsai]

?
it's been like that for the last 20pts

 

[Hooya]

I know...but if my signal was to be short at a break of 77 with a stop just above I didnt want to short at 61..silly i know