Anyone scalping the FTSE Futures??

European equities are technically rebounding from last week losses. The volume of the session should be lower due to the holiday in the London Stock Exchange. The evolution of the Euro will be guiding European equity markets. Last week, the strong appreciation of the Euro was the strongest reason for the fall of the main European indexes. The devaluation of the European currency was in the last 12 months, one of the main drivers of the sharp appreciation of European equities. The injection of liquidity by the ECB further strengthened this downward trend of the euro, benefiting European exporters. A popular strategy among global investors is buying dollars and selling other currencies including the Euro. This strategy despite fruitful has attracted too many investors, which poses some risks. Thus, if the recent appreciation of the Euro endure, many of these investors may decide to simultaneously close this strategy, reinforcing the positive trend the common currency. If this scenario materializes, may intensify the selling pressure on European indexes.
 
European stocks are advancing for a second day as companies including UBS Group AG and Adidas AG posted better-than-estimated results. The situation in Greece as well as the British election, are the main unknowns at this stage. However, a European Commission spokesman said yesterday that the resumption of negotiations with Greece has been “constructive”, being held in an “intense” way. According to the source the way to an agreement is still long but can be covered up to May 11, the day which will be held the next meeting of the Eurogroup.
 
Dick Lexic said:
Thanks for your input (y)

From a chart point of view the Dax is not exactly firing on all cylinders atm, I could stick my neck out and say the 11700 level could be the main push and pull area for a while, the news of course could change all.
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Dax 11700 was clearly rejected today, this could brings some serious downside targets into play. At the moment the Dax is currently testing the April low 11327, this is critical for now imho.

Looks like the news/election will dictate for the rest of the week.
 
Dick Lexic said:
How come this thread is so busy, I can't get a word in edgeways!
Click to expand...

Well I went short into the DAX yesterday morning, got stung, walked away and then missed the subsequent 450 point downward move ... engaging in chit chat wasn't top of my agenda :/
 
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Took a look at 15 German stocks' charts all looking to close lower , short Fdax at 11407 close by 16:30 ...
 
European equities rebound and trade with modest gains after the sharp losses from yesterday. The Greek situation has taken quite confusing and sometimes contradictory contours. On the one hand, European Commission sources said that since the new leader was appointed to the Greek talks with Brussels Group, negotiations registered some progress although they remain some obstacles at the level of pension reform and labor market. But then, Finance Minister German proves skeptical about an agreement at the next meeting of the Eurogroup (11th). Today, Bloomberg reports that the Greek negotiators accused the European Commission and the IMF of being intransigent and thus prevent the completion of an agreement. Today is the first key date in a series of payments that Greece will have to do, having to repay the IMF 203 M €. In addition, the ECB will decide whether to increase the line of credit to Greek banks continue to depend on the Central Bank to operate. In this context, the results released this morning should not significantly influence the market as a whole.
 
Well I'm not in DAX. 40% rise in a few months is a bit mad even for permabull here. I'll stick with the SP and the index that never rises (FTSE).
 
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