Anyone scalping the FTSE Futures??

false alarm volume adjusted today
 

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Morning everyone.
Another quiet start for Euroland.

morning postman

morning everyone

dow cash close = 6670

volatility has collapsed, 2+ month lows.

some people may see double top in dow, yesterday high = 2013 highs apprx 6675
 
When the stock market makes a new all time high it is never immediately bearish.
The S&P 500 made a new all time high yesterday but not the FTSE 100. The FTSE has
probably turned down, I don't think it will make a new high. But the action in
the S&P is bullish in the short term, as a result there is a chance sentiment will
turn bullish.

Despite all this there are many potential pitfalls ahead in particular from Crimea.
The stock market has rallied because the tension in this part of the world has
eased but this does not mean the crisis is over and in China corporate defaults
should intensify with the global slowdown as the Fed taper its asset purchases.
Given the economic outlook in emerging markets and the potential impact that sanctions
could have on Russia, and the fact that the Eurozone outlook is the weakest of
all after many years of money printing, it is difficult to be positive going forward.
Latest PPI numbers for the Eurozone show annual PPI inflation down 1.7%.

For these reasons I believe that the bull market will come to an end and right
now the best market to analyse for direction is the FTSE. Unlike the S&P, the
FTSE is far away from its all time high, something you would not expect to see
if we were in a bull market. Indices do not always make a new high at the same
time but in a bull market they tend to move closely together. This is not happening,
the FTSE is telling us that troubles are brewing and this is why the UK index failed
to break above its January high and declined in five waves to form wave i (circle).

The rally from the bottom of wave i (circle) is weak and choppy, which is the
signature of a counter trend rally [wave ii (circle)]. The internal structure could
be triple zigzag in which case the rally is nearing an end.

To receive regular FTSE 100 analysis and trading alerts click:
http://www.e-yield.com/Trial FTSE intraday [http://r20.rs6.net/tn.jsp?f=001bYXp...wPJSd0oJx2JrjpD8bmWq1uQlm136XsWMW5MV3QqgGA==]
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Kind regards,
Thierry Laduguie
e-Yield
www.e-yield.com [http://r20
 
That might have been the full extent of the 'buying opportunity', but I'm holding anyway.

Give it 15 minutes more to see.
 
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