Anyone scalping the FTSE Futures??

[ads57]

Hi SD. I'm a little surprised by the reaction to the news that Spain is requesting a bailout. You would think that is bad news, but what a spike up. Now the market is pausing for breath. The ES and DAX are resuming the move up, but the FTSE is trying to swim the other way. Too much manipulation going on with the FTSE these last three days.

I think its only a Bank bailout fund request. Not a sovereign aid request. perhaps the market overreacted ?

 

[SuddenDeath]

Hi SD. I'm a little surprised by the reaction to the news that Spain is requesting a bailout. You would think that is bad news, but what a spike up. Now the market is pausing for breath. The ES and DAX are resuming the move up, but the FTSE is trying to swim the other way. Too much manipulation going on with the FTSE these last three days.

yep, think in Europe any bad news = no news. once one domino is stood up the next one starts to fall. On ES 1419.2 is big fib 61.8 we had decent break above that.

there was a JP morgan note out this morning regarding their 2013 equity outlook might be helping sentiment.

I think the FTSE is being swung to wherever the orders are these brokers have to eat. EURUSD very strong dollar appears to be trying to break big fib support 80.12 currently below which is bullish.

 

[MartinC-J]

Yeah. I had the 1419.2 fib on the ES daily as well. I'm watching 1431.50 next. The ES is looking very strong, but the FTSE looks exhausted and ready to test 5876. All depends on the US open now at 2:30pm.

 

[SuddenDeath]

Yeah. I had the 1419.2 fib on the ES daily as well. I'm watching 1431.50 next. The ES is looking very strong, but the FTSE looks exhausted and ready to test 5876. All depends on the US open now at 2:30pm.

the one concern I had was very weak VIX, but i think that may be seasonal.

 

[MartinC-J]

I think its only a Bank bailout fund request. Not a sovereign aid request. perhaps the market overreacted ?

Thanks ads. Does look like the market over reacted. The markets are struggling to retest the highs of the spike, which should mean a down move. The ftse has already broken. The DAX and ES are being more stubborn.

 

[kul]

Spain makes Formal Request for Bank Bailout not Sovereign Bailout. . . . CITI
that is the reason i think

 

[ads57]

Yeah. I had the 1419.2 fib on the ES daily as well. I'm watching 1431.50 next. The ES is looking very strong, but the FTSE looks exhausted and ready to test 5876. All depends on the US open now at 2:30pm.

Just out of interest I had 1424 as the 61.8% retracement from swing high of 1474 on 14/09 to swing low of 1344 on 16/11. Are you guys using using slightly different data ?

 

[kul]

try using 18 oct high @1483 to 1443

 

[SuddenDeath]

SP500dec rejecting 61.8% fib, 1419.2

SP500dec is 1414.5

 

[SuddenDeath]

check out strength in EURUSD and GBPUSD.

 

[ads57]

yes interesting. Dollar index is falling fast. Could be a possible reversal signal for stock indices.

 

[jungerns]

In the Absence of Dick Lexic a Musical Interlude is in order perhaps, and it would be fair to describe this Track as the Position of Jungys current Trades...............

Greg Kihn Band - Jeopardy - YouTube

 

[SuddenDeath]

In the Absence of Dick Lexic a Musical Interlude is in order perhaps, and it would be fair to describe this Track as the Position of Jungys current Trades...............

hehe

 

[SuddenDeath]

Dow looks like stuck between 50% fib and 200day ma (sorry to mention chart issue)

 

[MartinC-J]

Just out of interest I had 1424 as the 61.8% retracement from swing high of 1474 on 14/09 to swing low of 1344 on 16/11. Are you guys using using slightly different data ?

ads - sorry for the late reply. I took the high from Sept 14th (1468.0) and the low from Nov 16th (1340.25) for the 61.8% level of 1419.20. Using the December contract for the ES.

 

[barjon]

ads - sorry for the late reply. I took the high from Sept 14th (1468.0) and the low from Nov 16th (1340.25) for the 61.8% level of 1419.20. Using the December contract for the ES.

hey, martin - how life been treating you? well, i hope.

 

[ads57]

ads - sorry for the late reply. I took the high from Sept 14th (1468.0) and the low from Nov 16th (1340.25) for the 61.8% level of 1419.20. Using the December contract for the ES.

thanks Martin. I am using the cash market levels so that explains the difference.

 

[zorbas]

Hi everyone, been out all day.
Just entered and saw the big drop in the Dow.
Initiated a speculative buy with a tight stop.

 

[ianhey]

Closed FTSE short from earlier at just better than break even. Do not want to leave open o/n with a tight stop.

Ian

 

[SuddenDeath]

afternoon zorbas