Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders

[dr.blix]

good news at 1.30 then ey? nice little boost on the FTSE.

EDIT:

i had a couple of little goes on the FTSE, lost both times...nice to remind myself of how crap i was at it! haha...

 

[wallstreet1928]

Im expecting a gap down on SP500

1st gap fill target 1047 , 2nd very unlike but 1044, 3rd target 1041

hence the reason why i have gone short on FTSE

 

[Mr. G]

FTSE and Nikkei finishes 800 days cycle and some minor and mediuma term cycles cycles as well.

Check out the time cycles at:

Secrets of stock market reversals

The FTSE 800 day cycle chart suggests the FTSE will contiue to go up....or perhaps go down....

 

[london_lad]

WS: Nice spot.

 

[wallstreet1928]

i am short ftse 5056 ...stop loss 5080

target 5032


expect a nice dollar rally post retail sales data after the euphoria

amend stop to break even

I may exit at 5040 ..........I will wait for market to tell me

 

[wallstreet1928]

I am short EURO 1.4589...stop loss 1.4619

target 1.4559

 

[wallstreet1928]

This morning's economic reports were overwhelmingly positive for the U.S. dollar with fundamentals overshadowing risk appetite. In August, consumers came back with a vengeance as retail sales rose 2.7 percent, the strongest increase since January 2006. However the most impressive part of the report was the 0.6 percent rise in spending on everything excluding autos and gas which tend to be very volatile.

There were a lot of reasons for consumers to buy last month including the cash for clunkers program, which drove a 10.6 percent increase in motor vehicle sales and back to school needs which fueled spending on clothing, sporting goods, electronics and general merchandise. Gas prices also increased dramatically between July and August, boosting gas station receipts by 5.1 percent. This solid report should drive up GDP in third quarter, putting the U.S. economy closer to coming out of recession. However it remains to be seen whether this pace of spending can continue since the incentive to buy cars ended in August. With kids back in school, parents may also become more thrifty as they save for the holidays.

Meanwhile producer prices rose 1.7 percent last month, thanks largely to the 23 percent rise in contribution from gasoline prices. If you exclude energy and food costs, producer prices only increased 0.2 percent. This indicates that outside of commodities, demand has not recovered enough to have a meaningful impact on prices. Inflation is not an immediate issue for any of the major central banks, especially not for the U,S, considering that on a year over year basis, annualized PPI growth remains negative.

Finally, the Empire State Manufacturing survey rose from 12.08 to 18.88 in September. The manufacturing and housing sectors were the first to crumble and the first to recover. Therefore it is very important to watch these areas of the economy to see if the momentum is easing and if it is, this would suggest that the pace of improvement in the overall economy could be slowing as well.

 

[SuddenDeath]

I am bullish on dow today, for what its worth, not much

 

[wallstreet1928]

I am off for my afternoon siesta

I have changed my profit limit on FTSE to 5038


happy trading chaps

 

[papak]

Short SP500 from 1048. Bit of a bad entry, as I was planning to short at 1052 but didnt set order up and when i cane to desk after lunch damage was done. Still think we will turn the market today and all the way down from here.... lets see what happens...

 

[Dentalfloss]

out of sync at the moment.s500 looking bearish.nas 100 not quite as yet
need to take out 1687 to be bearish..from my chrt

 

[london_lad]

papak, why do you think so?

 

[london_lad]

on 15M chart, yesterday and today's pattern looks like Cup and handle?

 

[wallstreet1928]

I am short EURO 1.4589...stop loss 1.4619

target 1.4559

closed break even

 

[wallstreet1928]

Im expecting a gap down on SP500

1st gap fill target 1047 , 2nd very unlike but 1044, 3rd target 1041

hence the reason why i have gone short on FTSE

market reached its gap fills missed 3rd one by 1.8 pnt

Oh well 2 targets hit

 

[SabreTT]

Really risky to call a top to these markets when currency is dropping so consistently stateside at least.
Value might go down but your'll lose the bet as the numbers rise every time the $ drops some more, Ftse 100 £5044 is a sum of its parts hence why the guys who know forex and shares might do better I guess


Ftse ended with a bit of a M formation today. Unconfirmed till it confirms the last leg and short term anyway, multi day ones probably mean alot more

 

[london_lad]

double top on intraday FTSE?

 

[wallstreet1928]

pending euro short

1.462 ..sto ploss 1.465

target 1.4580

 

[wallstreet1928]

I'm going to make a prediction here chaps

5110

is the official market top in the near to medium term

Deduction based on 50% fib retrace along with trend lines

 

[dr.blix]

talking of predictions mine was pretty crap! 4900 by wednesday is what i said...:whistling