peterpr
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jonnyy40 said:
The speed of the DOW fall over the past 3 weeks - especially Friday - to a new low for the year persuades me that we're likely to see a test of 9600 ish - or lower, in the next few weeks. That would mean further substantial downside for the ftse to around the 4300 level - probably tracing a classic head-and -shoulders in the process. The only real caveat to that is the US election next week. That's still a potential googly.
I don't think that deteriorating US (and world) fundamentals will be shrugged off by the markets for much longer whoever wins in the US though.
BTW, can't remember the precise reference, but I read somewhere recently that an incumbent president has never been re-elected when the DOW fell in October. If that holds then it looks like the markets have already decided that Kerry will take it. Not entirely sure how that will translate into post-election market action though.
peterpr
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maxpain said:
The close is pretty well on the 50dma so should find some support there - but how strong considering the intra-day was much lower? I think it more likely we'll get a bit of a bounce from around 4530 which was pretty solid support through September - but I guess a lot depends what the US does this evening. Can't seem to make its mind up at the moment but some sort of correction, however small, is surely due.
Ftse futures drifting lower in sync with the US as I write.
Hi Guy's/Gal's, I just got a promo email from my data supplier. " Nine out of Ten Reasons to watch the Ftse"
Basically it's saying that apart from the year 2000, the ftse has risen for November and December 9 out of 10 years.
Not a big deal I suppose, I just thought it interesting.
Anything in it?????
Basically it's saying that apart from the year 2000, the ftse has risen for November and December 9 out of 10 years.
Not a big deal I suppose, I just thought it interesting.
Anything in it?????
Lion
Lion ,I agree, I am not looking at the FTse stocks at the moment, nor have I checked out the stats, just thought it may of be of some interest to this thread, sorry if it's Garbage.
The US election could easily mess up that theory anyway, I suppose?
LION63 said:
Lion ,I agree, I am not looking at the FTse stocks at the moment, nor have I checked out the stats, just thought it may of be of some interest to this thread, sorry if it's Garbage.
The US election could easily mess up that theory anyway, I suppose?
Gardan,
It was not my intention to imply that you have provided irrelevant information, it is actually useful. What I am saying is that the stats themselves may well be irrelevant if the average rise has not provided enough of a profit potential for traders.
The US election might well change that but then there are statistics for election years (not that I can recall what they are). We must remember that there are those that use such data for trading purposes and some of them make a decent profit from their activities.
It was not my intention to imply that you have provided irrelevant information, it is actually useful. What I am saying is that the stats themselves may well be irrelevant if the average rise has not provided enough of a profit potential for traders.
The US election might well change that but then there are statistics for election years (not that I can recall what they are). We must remember that there are those that use such data for trading purposes and some of them make a decent profit from their activities.