Gold
	S&P &Futures (Click for latest)	Pre Market Futures (7:30)
		FTSE	+10
		TechMark	+4
		DAX	+12
Hang Seng +-	Nikkei +-	DOW	-9
		S&P	-0.1
		Nasdaq	+2.5

 

News Headlines:   Wall Street marked another up session thanks to further gains in the technology sector keep most of the broader market afloat. UK shares should open up slightly higher within striking distance of year highs on hopes of further evidence of U.S. economic recovery from key employment data due at 1230 GMT followed by non farm payroll at 13:30 GMTAnglo American South Africa gave the green light late for them to acquire nearly 35 percent in the country's biggest iron-ore producer, Kumba Resources worth about 4 billion rand Vodafones J-Phone in Japan said net user growth fell 53 percent in August from a year earlier to 50,200. That was the lowest level since the current company structure was formed through a merger of regional firms in November, 2001.Reuters, shares in its US Instinet Group which runs an electronic share trading network, as it reported an increase in trading volume in July from a year earlier and amid speculation the company might be the subject of a takeover.BP, SHELL crude futures extend losses pressured by fund selling following data that showed a build in U.S. fuel stocks.BT said it would change the pricing of its wholesale high-speed Internet services for the second time this year, following complaints from rivals JD Wetherspoon reported a five percent rise in annual profits on Friday and said August like-for-like sales growth slowed to 3.5 percent after 4.1 percent in the year. They reported profits of 56.1 million pounds for the year compared to analyst forecasts of 54-57 million pounds.. EasyJet said it carried almost two million passengers in August up 17 percent from the same month in 2002. Its load factor was 88.1 percent up from 87.2 percent the year before. Rank said that tough trading at its Hard Rock cafes and film and video business outweighed strength at its casinos, and added current trading was following a similar pattern. Profit fell nine percent to 77.4 million pounds with the consensus forecast among analysts of 78 million. RMC the world's largest producer of ready-mixed concrete posted lower first-half profits, as expected, on Friday amid continued sluggish demand at its German business. 6 month profits of 50.7 million pounds down from 80.6 million pounds. Calendar All GMT United Kingdom (F)inals (I)nterim United States (Click Flag) Europe & World Friday Rank Group (I) PBT 77.1m exp. RMC Group (I) PBT 7.4m exp. Aga Foodservice (I), Go-Ahead Group (F), Highway Insurance Holdings (I), JD Wetherspoon (F), Marshalls (I), Swan Hill Group (I) EasyJet Aug Traffic Figures 13.30 Aug Non-Farm Payrolls 15k exp. Average Workweek, Hourly Earnings Aug Unemployment Rate Aug 11.00 July German Preliminary Industrial          Production m/m 0.8% exp. Good Trading!   David@FTSEDOW.com    www.FTSEDOW.com            Pivot Calculator

Good evening/morning Croc. See that I've beaten TP to this thread today/tomorrow.

Druid2-Medal in the post!

FRI FTSE PP

R2 4282.7
R1 4265.7
PP 4253.2
S1 4236.2
S2 4223.7

Close bang on Thu pp and just below weekly R2 after gaining 2pts in the auction!



Updated 9/4 for Friday's market.
Key DOW Levels for 9/5
UP Above 9,610
DN Below 9,540

Still Consolidating...
Dow continues sideways, watch for break from range.

From prior commentary, "...The index continues to display strength within the current upmove and will likely continue higher...The fact that the index has formed a consolidation at the highs is indicative of further strength..."
The Dow continues to hold at the highs as the index traded sideways today within the tight consolidation that has formed at the highs of the 15 Minute Chart from 9,540 to 9,610. The index is clearly taking a "breather" after rallying sharply over the course of the previous six sessions.

The fact that the consolidation continues to develop implies further strength in the medium term. An upside break through the top of the pattern at 9,610 will likely spark further upside movement. Moreover, looking at the Weekly Chart shows that the index has broken the major long term upper trend line that has formed across the highs of the past couple of years. The upside break further indicates strength.

However, the consolidation that is forming is more or less in the shape of a rectangle, and this kind of consolidation can break down fairly easily. A break below 9,540 will likely lead to a pull-back off the current highs and a significant retracement. Watch this range closely tomorrow.

Short Term Dow

Short term, the Dow has formed a solid short term support level at 9,580, seen in the 1 Minute Chart. Use this level as a fulcrum for tomorrow's Open.

Medium Term Dow

In the medium term, we are still Long the Dow from 9,481 and will move our stops up to 9,535 for tomorrow's market. We will stay Long above 9,610, and look to Short below 9,530, with 10 point stops.

NASDAQ & S&P

The NASDAQ continued higher within its steep uptrend today, while the S&P traded nearly sideways the entire session. Watch the clear lower trend line in the NASDAQ and the consolidation in the S&P for tomorrow's market. *

Summary

The Dow traded sideways throughout the day, but was able to edge higher by 19 points. The index continues to hold on to the recent gains in the index and continues to develop the tight consolidation that has formed at the highs. A break from the consolidation will likely lead to a solid move in the direction of the break. Watch 9,610 up, and 9,540 down tomorrow.

Morning all, news posted.
Market looks like pushing ahead again ..

TP tks for medal. lol Morning Croc.

1.30 will probably be the main market mover today BUT which way ??

Morning all

Working most of today, so you won't hear much from me!

My PRU shorts are looking slightly better now.

hi everybody new to this. can anybody tell me where to look for researching into what a company actualy dose (annual reports, cash in bank, etc) what does level 2 give you.

Went short on Rank this morning after less than inspiring results but the price is still hoding. Was hoping for a 5% + drop here.

jph321 welcome!
Have a look at my site www.ftsedow.com for lots of information on Level2

thanks will have a look
what does going long or short mean.

jph321,

If you go long on a stock you are looking for it to rise - if you go short, you are looking for it to fall.

Regards

Ian

thanks for reply but why would you want stock to fall.
(or is going short just another way of saying you have sold the stock and maybe buy back if price drops).

jph,

you would short a stock if you had taken a position where you stand to gain from it falling.

The simplest way of explaining this is if you spread bet you can long or short a stock or indice - you wold take a position of say 1 per point and if you were short you would want it to fall - for every point outside the margin it moves down you would make a pound.

Hope this make sense, but if you need any more advice, please feel free to mail me ian@moneyam.com

Regards

Ian

First chance to log in - to find it all pretty quiet!

Hi jph, welcome to the traders thread in the investors room....

You've not updated your user settings (top right) so I don't know what part of the UK (or the world for that matter) you hang out in.

You should try and take part in/go to one of the traders meetings if you can as you pick up so much info - (a lot of things are explained) or you can ask specific questions!