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

Looks like we will be finishing on a high today which bodes well .

Told ya in post 19062 {19068}
wait for Tuesday

no you didn't .... you said monday :-))

DOW now trading in a very narrow range but finding resistance at 17580

answer below ...... convergence of 50+200 dma



17600 would be an obvious "round number" resistance, but if broken would also show the convergence well breached

chuckle
mentor would have been proud of my prescience, having called the above barely 2 minutes before the cork popped ..... we're now at 17,620 :-)

Predict FTSE down to 5935 until Yellin starts shoutin

Wounder if she will mention 'Sub-Primes' to dampen things a little

why do you predict FTSE 100 drop from now until later today?

Bloomberg thinking is that the recent indices bounce is due to Emerging Markets valuations looking very cheap and luring in speculative investors. The Fed decision (or not) is well telegraphed and is pretty much factored in. A 'No rate increase' would probably knock the market back a little.

Temp drop while peeps await decission.(plus would do me a favour, so I can buy more lower)
Janet's got a big plate of Salt Beef and salad before she starts Yellin an spittin an wind breakin :)

Would love to see Donald and Janet havin a fight when he becomes new big Pres.

i'm currently long FTSE and a little out of the money and ditto some DOW
haven't worked out the strategy, but i expect selling after the news, but where b4 and where immediately after?

I hope you make good today.B-)
I still say 6300-6400 by Xmas.( pos 6500)

i certainly wouldn't complain with that either, though that looks supremely over-optimistic :-)

meanwhile cash DOW flirting with the next resistance ~17,665
not sure how big a hurdle that might be

I'm with pat ,i think we will gain back some of what we lost if not all of it ..

it's a big leap ..... and of faith too :-)

for fairly obvious reasons, FTSE finished well off its highs ....... nevertheless, it remained well above certain important support (or resistance) levels

DOW is also currently significantly off its best, but it is still +33 on the day

the fun of course will be in a couple of hours where it's anyone's guess which way the markets will go, and more importantly, where they will finish

Dow to finish up about 300pts.. you heard it here first -):

i certainly wouldn't be that enthusiastic
however, the current level of ~17550 is smack on the 50/200 day convergence so no a bad place to enter if you are bullish

===============

and i have in a modest way at 17550.4

banked 40 points on that trade as was cooking and hadn't a hope in hell of watching
no doubt it was all like a yo-yo for a while

anyway, i still have other FTSE and DOW longs running so no grizzles from here