rather than pick out individual stocks to trade, it can often be worthwhile to trade the indices themselves, especially in times of high volatility.

for those so inclined, i attach below charts for FTSE and FTSE 250, though one might equally be tempted to trade Dow or S&P, which is significantly broader in its coverage, or even NASDAQ

for ease of reading, i have attached 1 year and 3 month charts in each instance

imo, s+p is due for a correction which is not quite the same as saying that dow will (immediately) follow suit

Daily Trading Forecasts - 25/11/2013
By AZEEZ MUSTAPHA

PUBLISHED: 25 Nov 2013 @ 07:07


The conditions on the market are favorable to trend-followers, especially in the face of new signals and directional movements that are currently happening. For instance, the USDCHF has assumed a strong southward bias and the price could reach the support level of 0.9000 this week.

EURUSD: The EURUSD has assumed a strong northward bias and the price could reach the resistance line of 1.3700 this week. This is possible because the EMA 11 has crossed the EMA 56 to the upside while the Williams’ % Range gallivants in the overbought territory, showing the strength of the bulls.

USDCHF: The conditions on the market are favorable to trend-followers, especially in the face of new signals and directional movements that are currently happening. For instance, the USDCHF has assumed a strong southward bias and the price could reach the support level of 0.9000 this week

GBPUSD: On this pair, we have a Bullish Confirmation Pattern. The market moved upward by over 110 pips last week, closing at 1.6224. There is still much room for the price to go north, only that there could be some pullbacks along the way, which ought not to take the price below the accumulation territory of 1.6100 in worst cases.

USDJPY: Here too, the market is bullish. Yes, this is a bull market and the price would eventually test the supply level of 102.00, even possibly overcoming it. The great psychological demand level of 100.00 would act as a long-term barrier to the bears’ effort, for the price may not break that area to the downside in spite of the corrections that may happen in the course of this bullish journey.

EURJPY: This cross trended significantly upwards last week, moving upwards by more than 200 pips before closing at 137.29 on Friday. Since the bullish signal was generated a few weeks ago, the market has moved upwards by more than 610 pips. A great ride indeed!

Eye-opening trading lessons: http://www.harriman-house.com/experttraders

This is worth a read:

Mellon on the markets.

6723 last weeks FTSE high will be this weeks test.

Shortie - I have last weeks high as 6732.10 on Monday.

On the DOW we saw some weak economic data end of the week which lessens the likelyhood of an early end to QE.

You are correct Skinny, 6732 it is and will be this weeks test.

AZN breakout?

Having said 6732 would be this weeks test for a break higher its worth noting that 6700 seams to be a resistence point also looking at the last couple of weeks.

The previous 10 days FTSE highs :-

6744.77
6728.37
6726.81
6696.16
6703.12
6732.10
6723.46
6711.42
6697.69
6711.03

The president of the European Central Bank hit back on Thursday over German “nationalistic” criticism of the central bank’s low interest rate policy. “Let me react towards what is a nationalistic undertone in some of our countries whereby we [are said to] act against the interests of some countries and in defence of our own countries,” Mario Draghi told a business conference in Berlin. “We are not German, neither French nor Spaniards nor Italian, we are Europeans and we are acting for the eurozone as a whole.” The Italian ECB president’s comments could exacerbate tensions in Germany, where official support for the central bank’s policy is at odds with many savers’ fears about the impact of ultra-low interest rates. Mr Draghi was responding to German media commentators’ criticism of the ECB’s decision this month to cut rates 25 basis points to a record low of 0.25 per cent in the 17-nation eurozone. The two German members of the ECB’s 23-member governing council led a six-strong revolt against the move – FT.

Wondering if this will fall back to 164 or new set of lines..

Opinion seems to be that the Yen will remain weak so it should keep going up, however, a volatile week ahead. But wdik? :-)

dow has touched 16125 so watch out for time to short - like imminently?

I'm seeing Yen crosses as too high and a pull back very likely to correct. I think 160 will be retested. DOW I think will push on higher as such I'm steering clear. FTSE may test last weeks high but I favour sideways, currently in a range from 6680 +-40pips so 6640 to 6720.

I agree re the DOW - much as I want to short it, it still doesn't look over bought BWTFDIK.

Seymour you might find this interesting on GJ
http://www.forextrading.tv/alerts-archive/2013/11/14/gbpjpy--hourly--elliott-wave-1384454011/#axzz2lfwD8PFv

LONDON--Bank of England Gov. Mark Carney Tuesday criticized the quality of some economic data officials receive from Britain's statistics agency, including data judged crucial to setting monetary policy. In evidence to lawmakers, Mr. Carney said he was "much more comfortable" with the standard of economic data produced in Canada, where he served as head of the central bank prior to joining the BOE in July. "There is room for improvement and that does extend to some pretty important classes of data," Mr. Carney told lawmakers on parliament's treasury committee, which scrutinizes economic policy in the U.K. The governor agreed to write to the panel, setting out the rate-setting Monetary Policy Committee's concerns over the official data, in response to a request from the committee's chairman, Andrew Tyrie. Concern about the accuracy of economic data in the U.K. and the signals they send to policy makers have increased in the years since the financial crisis tipped the economy into a deep recession in 2008. Mr. Carney singled out data on business investment and figures on the flow of money across various parts of the economy for criticism. He said "it doesn't feel entirely right" that official data is showing such weak investment, given upbeat survey data and a strengthening economy. And he added a lot of work needs to be done to bring Britain's flow of funds data up to international standards. The Office for National Statistics, Britain's official statistics agency, did not have an immediate response to Mr. Carney's remarks.

Can of worms about to be opened!!

statistics and damned lies as usual.