Anyone scalping the FTSE Futures??

[postman]

Dow being the weaker of the 3 indices on this retrace up move. So will be the instrument to short when they turn. In theory anyhow.

Yes - you see my post earlier - I shorted the dow on weakness on the s&p.

 

[postman]

Ok dow position in the money and dropping nicely. Both s&p and dow under their trendlines. Worst case scenario now is we sit here at these levels for the rest of the day. But they 'aint going up!

 

[Dentalfloss]

In rez
Will it get sold

 

[counter_violent]

Yes - you see my post earlier - I shorted the dow on weakness on the s&p.

Well it's selling off a bit, but won't go far unless the others join in !

 

[wallstreetwarrior87]

Looking at the volume, it does look like too many are calling the high here -
Also a double top did bring in shorts earlier, so stops on the other side of the high. If this was strong selling wise, i'm not sure why the controlling players would allow this rise against it?

But Like you guys, I am looking for shorts - ideally 26280/300 zone (would be nice)

 

[luckyvictor]

Timing during the day - madness to trade the last 10 minutes even if you do know what the MOC is. The open brings good rewards, when the dow was in the 15,000 area any open below 100 would close the gap, anything over 150 would stay high for the day.

Seeing the same chart pattern over and over again is key.

Mainly just watching the buying dry up and thinking well theres only one way to go from here.

Plus I have a bias to short which worked very well on the ftse but when I trade dow not so much. these markets have been going up for over 100 years so thats definitely counter trend.

I short FTSE this morning around 7183 , when it made a 2nd top on 5M, but somehow it got boosted up...

But I just found it hard to trade with this already long going uptrend, keep seeing signals of weakness

(And I do mean I see it, not I guess, this could come from my 'experience', and surely can be wrong)

 

[john jackson III]

Short is wrong, imo and holding YM long.

 

[luckyvictor]

Looking at the volume, it does look like too many are calling the high here -
Also a double top did bring in shorts earlier, so stops on the other side of the high. If this was strong selling wise, i'm not sure why the controlling players would allow this rise against it?

But Like you guys, I am looking for shorts - ideally 26280/300 zone (would be nice)

Is the volume from those spread betting firm like IG reliable? At 5 minute period?

 

[postman]

Is the volume from those spread betting firm like IG reliable? At 5 minute period?

Not a volume watcher, so I wouldn't know. You can get that info from other locations and compare it.

 

[wallstreetwarrior87]

Is the volume from those spread betting firm like IG reliable? At 5 minute period?

Yes, and Postman beat me to it - always wise to do periodic comparisons with other data sources, but I have not really encountered any major discrepancies in the last 7 (ish) years of using it.

 

[wallstreetwarrior87]

But rather than looking all over the place with volume - use it in the correct places (ie Vs opportunity/location). Not always going to work, but its a nice piece of extra info to have, especially when trying to spot when retail are jumping in too soon - ie, eager beavers.

 

[postman]

This is annoying - stopped out for +1.
Leaving it for a while

 

[wallstreetwarrior87]

BTW most of the stuff on the interweb regarding volume is incorrect, and will lead you down the wrong path. Volume evolves, so big volume wont always mean strong - work that out lol, but nearly all articles written on volume think that this is indeed the case.

 

[postman]

S&P is just sitting there at the top everyone daring the other to buy the high.

 

[Dentalfloss]

How strong is that rez.?

 

[postman]

S&P just nibbling at these levels. No ones going big.

 

[Dentalfloss]

 

[postman]

How strong is that rez.?

More to the point - who's holding it up at these levels.

 

[counter_violent]

More to the point - who's holding it up at these levels.

Short stops take out could be the game here S+P 2945, NAS 7795 etc. Anyways, Dow still the weaker of the 3 ...so we know what to punt on when the evidence presents.

 

[postman]

Ok last one for the day short 172