FTSE 100 - Inter Market Analysis

InterMarket-Analysis

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FTSE 100: Trading Plan for 02/06/17

FTSE 100 traded sideways even with a poll indicating the lead has narrowed to just 3-4% between the Tories and Labour. thereby sending GPB/USD above 1.29. The FTSE 100 shook off political concerns and weaker Chinese data overnight as it gapped up and pushed to 7560. The 60 mins chart is now carving out a H&S formation as the daily candle put in a topping tail yesterday.

10 mins chart has an unfilled gap at 7520 , all eyes on the H*S formation target of 7446.

Support: 7540 , 7520, 7500 .

Resistance: 7560 , 7586.

Conclusion: H&S formation in play tilts the bias the bearish side, watch out below.
 

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FTSE 100: Trading Plan for 09/06/17

FTSE 100 flushed lower today hurt by the possibility of a hung parliament given the political uncertainty over the next 24 hours. Oil prices hitting $47 and GBP/USD > 1.29 certainly didnt help sentiment.
Stronger Chinese exports/trade balance & shanghai index overnight failed to keep the index afloat

Weekly - support seen at 7440
Daily - Fib 75% support at 7440 , with further support at 7400
60 mins - H&S target = 7400 .
10 mins - no mans land

We now await the results of the election with early projections starting from 8pm onwards .

Elections results and market reaction is a wild card.
 

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FTSE 100: Trading Plan for Fri 16/06/17

FTSE 100 is expected to remain under pressure given;

3 hawkish members argued for a rate hike yesterday
weaker UK retail sales yesterday
Oil remains weak at $44
Jared Kushner now being investigated
Trump investigated
Yellen Hawkish
Criminal investigation launched into Greenfell tower fire
We must also keep a lookout for the BOJ press conference to see if they adopt a hawkish tone similar to BOC, FED and BOE . If BOJ hints towards a hawkish stance then expect the YEN to rally thereby sending equities lower.

FTSE 100 resistance is seen at 7450, 7490 gap fill resistance.

The index is now trading below its H&S neckline on the daily chart, watch for target at 7300 to be hit.
 

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FTSE 100: Trading Plan for 20/06/17

FTSE 100 defied my expectations of gapping lower today given the terrorist incident at the mosque overnight, Brexit talks starting and concerns over Theresa Mays future given reports that she only has 10 days to prove her leadership skills.

Oil remains weak whilst GBP/USD remains above 1.27 , the two main drivers of the FTSE 100. Both indicate weakness going forward as the daily chart confirms given the H&S formation.

Hawkish BOE will keep the pressure on the index going forward not to mention Brexit uncertainty, * soft Brexit will keep GBP afloat.

Carney is speaking tomorrow so expect volatility.

Resistance levels : 7540 . 7550, 7590 .

Support : *7495, 7480, 7465, 7450, 7440, 7420
 

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InterMarket-Analysis

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FTSE 100: Trading Plan for 21/06/17

FTSE 100 initially short squeezed higher after mark Carneys dovish comments , it went on roller coaster ride to 7560 only to reverse -110 points down to 7450 after hours as concerns over a DUP and Conservative were reported. The other factors that also hurt sentiment were George Soros dire warning on UK growth , Mark Carney admitting that wages will remain sluggish along with growth and Oil prices skidding to new lows.

Support is now seen at gap fill 7463, with further support at 7440 , 7420. The weekly chart remains bullish as we are above the previous resistance zone at 7440.

Daily chart has resistance at 7560. *60 mins chart remains bullish with higher and higher lows.

I will be looking for a move higher.
 

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InterMarket-Analysis

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FTSE 100: Trading Plan for 27/06/17

The index gapped higher this morning led by a rally in Oil, a deal with the DUP and conservatives albeit controversial & Italian banks being rescued again . Stronger German IFO also helped lift sentiment *The rally was capped at 7480 as concerns started to emerge with regards to the cost of the deal , £1 billion being agreed to be diverted towards Ireland.

"On Monday Mrs May demonstrated this in two dangerous ways. In the first, she struck a Westminster deal with the Democratic Unionist party which emboldens her to behave as though she now has an overall majority when, in fact, she leads a minority government. In the second, she issued a tightly drawn paper on the rights of EU citizens living in the United Kingdom after Brexit in which she acts as though her version of Brexit represents the settled public will, when in reality it does no such thing."

Daily chart is consolidating .

60 mins chart has built a base at 7400 and has broken out, so we look for a high high now.

10 mins chart has support at 7440 and 7425 gap fill.

*
 

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InterMarket-Analysis

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FTSE 100: Trading Plan for 03/07/17

FTSE 100 continues to be suppressed by Brexit uncertainty, *GBP/USD strength > 1.30 on hawkish Carney and weaker disposable income given consumer confidence fell to a record low.

"She's taken some absolutist positions on particular issues. I'm thinking of the European Court of Justice," Chapman said. "There have been red lines that have been set for him that make the job he has to do very difficult."

Although Chapman praised Davis as a "tough, resilient operator" he said the position on the ECJ had left Britain "hamstrung" in the talks."

Oil prices rose to $49 on brent crude yet this failed to stop a slide in the index sub 7300. Weekly and daily chart indicates support at 7300. *If we break 7300 support then 7100 is next .

10 and 60 mins chart remain vulnerable with lower lows and lower highs in play. *The key resistance to break on the upside for the bulls to retake control is 7380.

FTSE 250 and FTSE 350 are into support but if Oil starts to turn south and GBP remains strong then expect FTSE 100 to slide further.
 

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InterMarket-Analysis

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FTSE 100: Trading Plan for 13/07/17

FTSE 100 was helped by dovish comments from BOE Broadbent and stronger employment data. This allowed the index to break through 7385 resistance and hit next resistance at 7440.

Brent crude has found resistance at $48.8 *with sterling finding support at 1.2820.

Chinese data overnight will dictate sentiment tomorrow .

The resistance at 7440 is expected to hold with support at 7385 expected to hold too.
 

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InterMarket-Analysis

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FTSE 100: Trading Plan for Monday 24/07/17

FTSE 100 initially pushed higher on friday led by Vodafone as surpassed 7500 only to reverse sharply and close the gap below at 7430 zone. *Th daily chart has now held resistance at key diagonal trendline which corresponds with Fib 75% resistance, so 7515 is the key resistance level to watch, if we breach then bulls take control upto 7560-7600.

60 mins chart has support at 7430-7440.

10 mins chart has gap fill support at 7430, resistance at 7470 , 7490, 7515.
 

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InterMarket-Analysis

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US and Asian equities close higher overnight , FTSE 100 expected to open flat as we digest earnings news. *Stronger earnings from EU automakers should help reverse the decline after the recent round of weakness in the sector. GBP/USD and EUR/USD are lower overnight as the Dollar catches a bid following US healthcare vote + FOMC, thus should again help UK equities. Oil and Copper remain bullish therefore I expect a move higher on the FTSE 100.

Resistance remains at 7450 zone , if we surpass that then the next resistance is seen at 7470 , 7515.
 

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InterMarket-Analysis

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FTSE 100 will be adjusted for dividends = 41 points.

I am maintaining my bearish bias on FTSE 100 going into tomorrow given geo political concerns dominating via North Korea.

A raft of economic data is out of the UK tomorrow so expect some volatility especially in GBP/USD.

resistance zones : 7505 , 7515, 7520, 7540 gap fill ..........All zones I will be looking to short
 

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InterMarket-Analysis

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FTSE 100: Trading Plan for 14/08/17

FTSE 100 will be looking to hold support at 7300, *but we have major political uncertainty and risk off given the nazi racist riots in charlottesville, USA.

"Trump said "many sides" were involved, drawing fire from across the political spectrum for not specifically denouncing the far right. The violence presented Trump with perhaps the first domestic crisis of his young administration."

Will we gap down below 7300 ?

If so then support is seen at 7260, 7220, 7200.

If we can hold 7300 whilst absorbing the bad news, then we can attempt to short squeeze higher to 7360-7390.
 

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