Anyone scalping the FTSE Futures??

[bustech]

The rally in the DOW should take the ASX above 5,100 today.
Which should then in return should take the FTSE over 6,400 in the next session.
Crystal ball stuff.

ASX hit 5,110 with 30 point rally in the last hour, my guess big funds squaring the books for month end. Stuck in a 10 point range for the rest of the day, patience is the key. Pays 13 point div on Friday, so will be well supported in the after hours and in the first trading day of March.
Over to FTSE to repeat with the move to 6,400
My spreadsheet says 6408, with possible move to 6,433
Crystal ball is very foggy after that.

 

[Dick Lexic]

elliot waffle could be on a 4 leg at the mo ....quick calc on current price gives 5 leg target at around 6410 but we may get a deeper retrace

 

[chimpmagnet]

Heard on Bloomberg that DOW has big long term resistance at around 14080. Can anyone verify?

If so then we may go a little higher (actually already has gone above 14100) but then back down again.

 

[Dick Lexic]

s&p also hitting tough resistance at 1520

 

[canaussieuck]

s&p also hitting tough resistance at 1520

We've retraced to the prior VPOC (near the close of O/N)

Back to value at 40 ish..

 

[Dick Lexic]

We've retraced to the prior VPOC (near the close of O/N)

Back to value at 40 ish..

VPOC ..O/N....what does that mean?

 

[canaussieuck]

VPOC ..O/N....what does that mean?

Ok, lets just say it was the close of the cash...The levels are in my journal

 

[barjon]

well I don't think ftse is that keen - here we are two hours in today and ftse has traded about -30 weak relative to dow (ie: should be around 6375 odd at the moment) since yesterday's close.

 

[canaussieuck]

well I don't think ftse is that keen - here we are two hours in today and ftse has traded about -30 weak relative to dow (ie: should be around 6375 odd at the moment) since yesterday's close.

Yeah its quite pokey isn't it...bit slow today, the T&S is moving in slow mo

 

[barjon]

Yeah its quite pokey isn't it...bit slow today, the T&S is moving in slow mo

pokeys the word I just gone long/short (ftse/dow pair) in anticipation of ftse strengthening up a bit

 

[Dick Lexic]

Ok, lets just say it was the close of the cash...The levels are in my journal

nice journal canaussieuck a bit complicated for me tho

for what it's worth i got both dow/ftse at equlibrium ....this tends to point to a big move on the horizon ....i like to use volume as well but for now it seems normal..

 

[canaussieuck]

nice journal canaussieuck a bit complicated for me tho

for what it's worth i got both dow/ftse at equlibrium ....this tends to point to a big move on the horizon ....i like to use volume as well but for now it seems normal..

Thanks! appreciate the feedback....

You watch the DOW (Globex), and the FTSE? You watch the correlation?

I have the ES up, the Gilt and US Treasuries, but not the YM...You think its worthwhile, or are you taking about a different time frame?

Cheers,

CanOz

 

[zorbas]

Just shorted the Dow at 14090

 

[zorbas]

Hope it doesn't shoot up to the moon (14200) to hit all time highs

 

[Dick Lexic]

Thanks! appreciate the feedback....

You watch the DOW (Globex), and the FTSE? You watch the correlation?

I have the ES up, the Gilt and US Treasuries, but not the YM...You think its worthwhile, or are you taking about a different time frame?

Cheers,

CanOz

find it difficult to answer because i don't use standard TA

don't really look at correlation but most indices will move in similar ways ....this is 4 hr s&p + ftse ....i also watch levels i identify after the US close and previous price /support and resistance areas..today ftse needs to hold 560 for longs imo

 

[Dick Lexic]

sorry above should read 6360

 

[canaussieuck]

find it difficult to answer because i don't use standard TA

don't really look at correlation but most indices will move in similar ways ....this is 4 hr s&p + ftse ....i also watch levels i identify after the US close and previous price /support and resistance areas..today ftse needs to hold 560 for longs imo

Yeah agree, there is a good correlation between them at times...

560, is that the cash index CFD?

The key pivot today so far was 6316, the point that traded the highest amount of volume last session, and also the close of the cash...strong support, responsive buyers.

Yeah, 360...agree...56.5

Cheers,


CanOz

 

[Dick Lexic]

 

[Dick Lexic]

weird price action ....calling it a day here ....good luck

 

[ordinaryguy76]

Exited my shorts @ 1511 yesterday. Looking for opportunities to buy at the moment, but who knows which way it will go.

Closed two longs in the meantime, still have another one going on futures from 1515.0, targeting 1524. It's not looking great, though.