Premarket Futures 20th Oct

FTSE +27

DAX +23

DOW +19

S&P +2.2

Nasdaq  +7.5

1 DAY   2 DAY   5 DAY  (Click)	FTSE 250	FTSE Small Cap	FTSE TechMark
1 DAY   2 DAY   5 DAY  Futures (Click)	Nasdaq 100	S&P 500	S&P Futures
DAX  / CAC  (Click)	Nikkei -130  / Hang Seng +84 (Click)	10 Year Bond

News:	Sorry Your browser is not java capable
US:Buyers stepped in near the close of trade after improving earnings report and a declining economic indicator. Texas instruments profits doubled in after hours news. ARM unveiled better than expected third quarter profits on Tuesday, and said its revenues in the last quarter of 2003 would be similar to the third. Profit for the quarter was 6.8 million pounds against eight million last year with analysts forecast of around 5.8 million. Brit Insurance forecast record premium income and said it should resume dividend payments. Analysts forecast 2004 gross premium income of 1.3 billion pounds up 21 percent on the expected 2003 total of 1.05 billion pounds. Allied Domecq yhe world's second-biggest spirits firm reported a 3 percent rise in annual profit and said its new financial year had started well, despite tough trading in Europe. Profit was 495 million pounds beating analysts forecast of 485 million pounds.as strong growth in the United States offset higher pension costs, a weak dollar and destocking in Spain. International Power announced the resignation of its chief executive a month after reporting a sharp drop in first-half profits. Stagecoach Group said trading had been strong in its financial year to date with UK, New Zealand and North American bus operations trading in line with expectations and the UK Rail division has performed ahead of expectations. Granada has backed investors who are trying to oust Michael Green, chairman of Granada's merger partner Carlton. We now have 1 Day 2 Day and 5 Day charts on the FTSE & DOW above

Calendar: United Kingdom	United States  (GMT)	Europe & World (GMT
Allied Domecq (F) PBT 476-493m exp. Arm Holdings (Q3) PBT 5.5m exp. Brambles (AGM, Trading statement) Stagecoach (Trading statement) 11:00 Q3 CBI business optimism 11:00 October CBI total orders	SBC Comms, UPS, AT&T Capital One (Q3), Eli Lilly (Q3) Hilton Hotel (Q3), Amgen (Q3) Bank One (Q3) United Parcel Services (Q3) Bancorp (Q3)	Valeo, Electrolux (Q3) DaimlerChrysler (Q3) Schneider Electric F (Q3) Teleca S (Q3)

EMail: David Anderson    Website:

Futures

Pivot Calculator

HTML Editor

TUE FTSE PP

R2 4396
R1 4367
pp 4349
S1 4328
S2 4308

Close was just above Mon pp after gaining .6 in the auction! Dow still holding 9700 ftm and ftse stuck in a trading range making life difficult, at least its normally up in the morning and down in the afternoon!:)

Updated 10/20 for Tuesday's market.
Key DOW Levels for 10/21
UP Above 9,780
DN Below 9,720

Volatile Session
Dow trades back and forth, ends 56 points higher.

From prior commentary, "...The Dow looks to be beginning to move lower off the clear upper boundary of the wide range. A break below 9,700 could spark another big push lower within the channel. However, if the Dow can continue to hold above 9,700, it should base at the highs until a break from the wide range occurs..."
The Dow was able to hold above the critical 9,700 level today and even ended the day higher after quite a volatile session. The index oscillated within a tight range before finally push strongly higher to the Close, ending the day up by 56 points.

Looking at the 60 Minute Chart, you see that the Dow may be forming a bullish pennant consolidation at the highs. The downward-sloping consolidation has formed at the highs of the sharp upmove and could boost the index higher within the overall uptrend. However, an upside break through 9,780 must occur before such an upside is seen. Watch this level closely.

The index may continue to trade within the boundaries of the range before a break either way is seen. If the index cannot rise above 9,780, look for a move lower within the range. A break below 9,720 would indicate even further weakness. Essentially, we are in a wide range again and could break either way. We think odds favor an upside break, but it is impossible to predict until we get more action within the range.

Short Term Dow

Short term, the Dow has formed a clear trend line beneath the lows of the late-day rally, seen in the 1 Minute Chart. A downside break of the line at 9,765 will indicate weakness at the Open.

Medium Term Dow

In the medium term, we covered Shorts at the Open at 9,735, which gave us a 10 point loss for that trade. We then entered the market Long at 9,764, but were stopped out a second time. We are now out of the market and will watch 9,780 up, and 9,720 down, with 10 point stops.

NASDAQ & S&P

The NASDAQ and S&P each traded in volatile fashion today, but both posted gains for the session. Like the Dow, these two indices may be forming a potentially bullish pattern, which we will watch closely. *

Summary

The Dow traded wildly throughout the session today, but finally ended the day in positive territory. We will watch the upper boundary of the sloping consolidation tomorrow for either a break or bounce. A solid break through the range at 9,780 will likely spark another key move higher within the uptrend, while a downside reversal off the line could test 9,700.

Morning all
We now have 1 2 & 5 day charts for the FTSE & Dow on the header

Croc great idea re the ftse 2and 5 day, but if I change from 1 day to 2 day and click on it to bring up in a seperate window it does,nt work!

Good morning all. Thanks Croc & PB for info.

morning all

Croc, I was just watching KCOM level 2, and saw 5 sets trades go through. They appeared for a second and went through, then the next and so on. Are these some of the bots you tell us to look out for?

Sorry the charts are not updating but AM will have them back on line shortly.

LW
Re BOTS
Could well be
Will watch Kcom for a bit
D.

So croc, what did you think about the KCOM trading?

Not much in the way of BOTS in the late afternoon but if you are long on this it looks very good!