S&P Futures Nikkei +4.47 Hang Seng +-
7:30am Futures FTSE +8 Techmark +2 DAX +10 Dow +6 S&P +1 Nasdaq Unch
News Headlines: Late-session Nasdaq rally boosts other major indexes, with buyers returning after Monday's sell off National Grid said its first-half profitwould be substantially higher year-on-year, benefiting from continued cost reductions and lower interest costs.They said in a statement: "We are on track to deliver significant earnings growth for the full year Beazley Group Lloyd's of London underwriterreported a maiden first-half profit on on Wednesday and said its future prospects were very good. Floated last November, said pre-tax profits were 2.5 million pounds in the six months having made a 1.2 million loss in the second half of last year. Smiths Group met forecasts on Wednesday with a two percent rise in annual operating profit and expected a steady performance this year. Profits of 372 million pounds were towards the upper end of the range of forecasts of 364 million pounds to 375 million pounds. "The markets served by detection, medical, and Smiths' defence business all have a positive outlook, while significant recovery in commercial aerospace is not expected until 2006," Smiths has proposed a final dividend of 17.25 pence per share, taking the total dividend to 26 pence, up two percent. Barratt Developments posted a 31 percent jump in full-year profits on Wednesday, as cheap mortgages and a housing shortage in parts of the country continued to boost demand. Profits of 288.7 million pounds ahead of predictions at 270 million. Mitchells & Butlers said it was trading in line with expectations and added that sales had also improved.   United Kingdom Calendar (F)inals (I)nterim    United States  (GMT)   Europe & World (GMT) Wed 24th Sep Smiths Group (F) PBT 380m exp. Ashtenne Holdings (I), Barr (A.G) (I), Barratt Developments (F), Beazley Group (I), Boot (Henry) (I), Corus Group (I), JKX Oil & Gas (I), Reed Health Group (F) Car phone warehouse trading update 09.30 August Car Production 3m %   Vivendi Universal (I), 09.00 EMU July Current Account NSA Europe: Ex Dividend: Alba (7.75), Alvis (2.5), Aviva (9), CODASciSys (1.1), Centrica (1.7), City Centre Restaurants (0.75), Davis ServiceGroup (5), Devro (1.1), Enterprise (2.6), London Bridge Software (0.35), National Express (8.5), Northern Rock (7.5), PSD Group (3), Premier Farnell (4), French Connection (5), Hammerson (5.12), Incisive Media (0.6), Independent News & Media (EUR 0.028), Intercontinental Hotels (4.05), Interserve (4.2), John Wood Group (US$ 0.011), Kingfisher (3.5), LogicaCMG (2.3), Redrow (5), SHL Group (1), SVB Holdings (0.4), Savills (3.6), Taylor & Francis (1.6), Taylor Woodrow (2.4), Tesco (2.07), Ulster Television (4.1), Wyevale Gardern Centre (8.08), Xstrata (US$0.067) Good Trading!      david@FTSEDOW.com     www.FTSEDOW.com Pivot Calculator

4 hours ago I became a grandad! aghhhhhhhhhhhhhhhhhh
Baby boy trader & mom all doing well.

TUE FTSE PP

R2 4286.7
R1 4257.4
PP 4227.7
S1 4198.4
S2 4168.7

Close was just above Mondays S1 level after touching S2, only gained 0.1 pts in the auction, close was also above weekly S1! A good volatile day due to newsflow and profit taking, A dow close below 9600 would,nt look to impressive on a 60 min chart imho!



Updated 9/22 for Tuesday's market.
Key DOW Levels for 9/23
UP Above 9,550
DN Below 9,475

Sharp Decline
Dow breaks below 9,600, sells off sharply.

From prior commentary, "...A downside break from the range at 9,600 will indicate a likely retracement. Such a break will cause a move back down toward the major lower trend line that has formed beneath the lows of the Daily Chart..."
The Dow opened the session sharply lower this morning, as the index broke below 9,600 and dropped steadily throughout the first 30 minutes of the day, as seen in the 15 Minute Chart. The lost 109 points for the session and currently sits just above the major lower trend line that has formed beneath the lows of the major uptrend, seen in the Daily Chart.

The Dow formed a tight consolidation at today's lows from 9,500 to 9,550, which we will watch closely tomorrow. A downside break is implied and would cause of a break of the major lower trend line mentioned above. Such a break would spark a significant move lower.

However, the index has held strong above this line since March of this year and could continue to do so in the medium term. A strong, upside break through the top of the consolidation at 9,550 could spark another upside reversal off the lower trend line back toward the recent highs within the major uptrend.

Short Term Dow

Short term, the Dow has formed a tight range throughout most of today's trading, seen in the 5 Minute Chart. Watch for a break from the range to indicate direction tomorrow morning: 9,550 up, and 9,500 down.

Medium Term Dow

In the medium term, we closed our prior Longs this morning at 9,569, giving us a 57 point gain for the trade. We entered the market Short at 9,533, but were stopped out in the trading range. We later re-entered Short at 9,504 according to our mechanical rules, but that trade also faltered. We are out of the market and will watch 9,550 up, and 9,475 down, with 10 point stops.

NASDAQ & S&P

The NASDAQ gapped down this morning, while the S&P fell sharply, each resulting a losses for the session. Each is now approaching key lower trend lines in their respective charts. Watch these boundaries. *

Summary

The Dow broke below 9,600 this morning and trended down throughout the remainder of session. The index is now holding up at the clear lower trend line, which we will continue to watch in the Daily Chart.

Morning all,

Congrats Croc, I see you are a doting grandfather!

Last time I may get to post until Thursday night (If I'm not too tired!)

Please everyone tell me what you are up to and give me lots to read (it'll help the withdrawal symptoms)

Thanks
LW

Congrats Croc on becoming a Grand Croc:-)

BTW, I will be in touch shortly re my interest
in the Trader PC.

Trying to recover from a cold infection:-(

Have a nice big party and get plastered and wet the babys head well
and truly!

:-)

Jeff

SPT doing well!

I got in at 59p and tempted to kill for 1170 profit!

Greedy mode has just set in!

:-) or could it be :-(

Finger is on the sell button anyway!

Good luck all!

Jeff

Thanks all
Long BSY but will close shortly as I am heading down to London for the training day tomorrowD.

Late signing on here today. Congrats Croc.