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US stocks reached new multi-month highs on the back of solid earnings news to extend Monday's gains. European chip stocks should rise after Intel and chip equipment maker Novellus Systems rose in extended-hours trading on Tuesday after they reported quarterly earnings. The Body Shop swung from a loss to a first-half profit 9.1 million pounds thanks to cost savings and a strong performance in the America which offset tough trading in the UK. Awaiting Data GUS reported stronger-than-expected first half sales growth of 7% and said interim profits would exceed current market expectations. Despite fears that the hot summer months would have slowed down sales at Argos and Homebase.DS Smith paper, packaging and office products said it expected to report annual results broadly in line with expectations, despite a difficult trading environment. Land Securities Britain's largest property firm said it had agreed to expand a contract with the government, which would result in 140 million pounds of additional income per year.

Calendar: United Kingdom	United States  (GMT)	Europe & World (GMT)
Body Shop International (I) PBT 27m exp. Reckitt Benkiser (Q3) Trading Statement GUS Trading Statement 09.30 Sep Unemployment 5k exp. 09.30Aug Average Earnings 3m y/y 3.5% exp. 20.00 BOE Governor King Speaks in Leicester	Apple Computer (Q3), Coca Cola (Q3), Fannie Mae (Q3) General Dynamics (Q3), General Motors (Q3), Unisys (Q3), Genzyme (Q3), IBM (Q3), JP Morgan (Q3) Monsanto (Q3) 13.30 Oct Advance Retail Sales 0.2% exp. 15.30 Aug Leading Indicator 19.00 Fed Beige Book	Hennes & Mauritz (TS), Iberia (TS), ASML(Q3), Micronas (Q3), Thompson Multimedia (Q3)
Ex Dividend: Aero Inventory (2.3), BAE Systems (3.7), Camellia (20), Charles Taylor (3.27), Derwent Valley (3.3), Friends Provident, (2.5), Highbury House 0.26), Isotron (5.5), Johnston Press (2), LA Fitness (1), Linton Park (3), Morse (2.15), Newcastle United (2.04), Old Mutual (1.7), Regent Inns (3.36), Rolls Royce (3.18), S & U (8), Smiths Group (17.25), Spectris (4.05), Spirax-Sarco Engineering (6), TT Electronics (3.69), Tullow Oil (1), Unite Group 0.83), WPP Group (2.08)

David@FTSEDOW.com     www.FTSEDOW.com

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Morning (just) all,

Not sure which way the market is going at the moment. Unless anyone would like to let me know their thoughts I shall just have to wait & see.

 

 

morning all

WED FTSE PP

R2 4395.4
R1 4364.7
PP 4344.3
S1 4313.6
S2 4293.3

Ftse closed below PP after gaining 2.2 pts in the auction, after testing weekly R2 has now closed below R1. No long term dow sell sig yet, close under 9680 a good sign of a trend change imho, no doubt news based moves tomorrow with Intel!

Updated 10/14 for Wednesday's market.
Key DOW Levels for 10/15
UP Above 9,850
DN Below 9,750

Continued Uptrend
Dow trends slowly higher.

From prior commentary, "...Look for the index to continue trending higher until a downside break from the major lower trend line occurs..."
The Dow traded within a very tight range this morning, but ultimately squeaked out a 49 point gain by the day's end, as seen in the 15 Minute Chart.

The index continues to trend higher within the current major uptrend, seen in the 15 and 60 Minute Charts. The index has held up quite well without any major pull-backs throughout the upmove. We this behavior to continue until the lower boundary of the uptrend is crossed.

A downside break below 9,725 will likely spark significant retracement in the index. We have rallied a great deal from recent lows, and are now at the top of the Daily Channel, at about 9,800. Therefore, a downside break is due.

However, the market has been steadily trending up within the Channel. Until such a break occurs, look for continued upside movement. Since we are now near the top of the larger Channel, we could enter another consolidation phase. If that occurs, we will need to widen entry stops again to catch the next move.

Short Term Dow

Short term, the Dow ended the day just above the key 9,800, seen in the 5 Minute Chart. Use this level as a fulcrum tomorrow morning; Long above and Short below.

Medium Term Dow

In the medium term, we are still Long the Dow from 9,381 and will move stops up to 9,750 to lock in 369 points of profit on the current move. Tomorrow, we will add to Longs above 9,850, and will look to Short below 9,750, with 10 point stops on any new positions.

NASDAQ & S&P

The NASDAQ and S&P each pushed slowly higher throughout the session today, keeping their respective uptrends in tact. Watch for similar behavior until the lower trend line is crossed. *

Summary

The Dow continued slowly higher throughout the session today and even got a solid move up at the Close. Look for the index to continue trending higher above the major lower trend line. We may see a pull-back toward the lower trend tomorrow, but significant downside should not be seen unless the Dow cross the line at 9,750.

Morning all, Like the graphic LW :-)

Morning All - Back from a nice holiday in France (Honfleur) to see the market up and although my BARC shares did well for me some of my small spreadbetting shorts are looking a bit sick WOS/LMC/BNZL/NXT/EMG. Lots of talk of DOW 10k - will it get there before Xmas??

Hi Druid2, nice to have you back.

Did you notice you made no 1 on the FTSE competition two day ago, on the 13th?

I've just transfered what was left of my CFD account as I have decided it's not for me! I prefer old fashion dealing - a bit slower and gives me a chance to think! It was a good learning experience and I may return to it one day - but not just now.

Problems yesterday were linked to adding a clock to the header. This has now been sorted & seems to work fine. Atleast we know when the markets about to open now ;-)

We seemed have hit resistance just below 4400, but it seems to be having another go!

But there is always the Borg motto to fall back on for comfort
"RESISTANCE IS FUTILE...." Let's hope that proves to be the case with 4400! However a little slowing up now (to me) is preferable to outright stop and reverse in a couple of months time if we do move onwards and upwards in an unsustainable manner. A sure and steady slope upwards would suit me pretty please!!

HBOS has lost the morning gains, but good to see Woolies regain the damage done from the broker downgrade yesterday. Hopefully the late afternoon will be more positive than this mid-afternoon period.

hi croc
dow took a bit of a dip today despite good figs from intel etc.profit taking do u reckon??
any ideas on the highs And lows to watch for today

bst rgds
zarif

zarif
Just an idea

many thanks croc.
Ps: Do you do any seminars/workshops in the nortwest.?
I am in Elesmere-port nr Chester.

please let me know and I shall attend.
Let me know the costing aswell.
Nb: I am off to one in bredbury tomorrow run by fred stafford of Gann trading.
Any views let me know.
ps: any idea as to what we might expect after the beige book results at 1900gmt

thanking u in advance
zarif

Yep close to Wolverhampton first Thursday of every Month
http://www.ftsedow.com/bigtrain.htm

many thanks croc
will arrange with u soon and come down

rgds
zarif

Hi Little woman. Had not noticed my position in the FTSE comp. but nice to be told I was No. 1. Wish I was that good with my own trading.

btw. Have you noticed Eurotunnel recently? Are they a buy now?