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

13 degrees so far (heat wave) :0)

Fair point Mr C, but I don't think you guys are trading the other indices (250, 300, AIM etc) so as a trader, expecting the 100 to take a hit, you would have been disappointed. I agree with the point of view that many constituents of the 100 are earning in $.

Guardian Stock Brokers

INDICES
FTSE 100

A declining pound continues to prop up the FTSE 100, with the index almost the sole gainer among major indices. 6500 continues to hold for the time being, with gains trapped by 6600. A break below the former level would head towards 6380, while if the rally recovers and moves above 6600 then the next target is 6760.


Dax

A sharp reversal yesterday dents the bullish outlook, but for now the price is holding above the key 9440 area. If this gives way then we could see a swift drop down towards 9200 and then below this the lows of February, 8875 and further down, would come into play. A bounce from here would need to break the high seen on Monday above 9800, which then opens the way to the 200-day SMA at 10,075.


S&P 500

A lower close today, perhaps below the 50-day SMA (2076), would likely set off fresh moves to the downside, with 2050 and then 2037 coming into play. Below this the next area to watch is 2000,the post-Brexit low. Any breakout needs to clear 2010 and then head past the June high of 2128.


FX
EURUSD bounce unlikely to last

EURUSD sold into the medium term trend yesterday, with the 50% retracement seemingly the end of the road for its resurgence. We are seeing another retracement higher this morning, which is expected to result in another leg lower. Given the lack of key swing highs from yesterday’s selloff, it makes sense to look for resistance at previous key levels, such as 1.1072 and 1.1097. The bearish view holds unless we see an hourly close above 1.1170. Support levels in view are 1.1036 and 1.1024.


GBPUSD selloff expected to continue

GBPUSD has continued its deterioration yesterday, with another leg lower, creating a new 31-year low. Price now has very few support levels of note to the downside and as such further losses are likely. Price has broken through trendline resistance and this could point towards a short term bounce. However, any gains are seen as selling opportunities, where a return to and below 1.2800 seems likely before long.


USDJPY weakness looks set to continue

USDJPY has finally broken lower following a period of consolidation last week. This morning is seeing a bounce, yet this is unlikely to last. As such, it is worth being bearish as long as price remains below 101.76. The next key support levels to note are 100.58, 100.00 and 99.00.


COMMODITIES
Gold

The rally goes on, with little sign of it stopping yet. $1390 is the next area to watch, followed by the August 2013 peak around $1440. Gold is pushing overbought levels for the first time since February, but for now dips should continue to be bought. It would now need a firm close below $1350 to suggest the bounce has run its course, and then the next area to watch becomes $1300.


WTI

Yesterday’s drop has taken WTI back to the key $46 area, so we could see a swift drop to the $42.60 area if it is broken. A bounce from here could challenge the $50 area, and then on to the June highs at $51.50. Buyers need to step up, if the February rally is not to come to an end.


Disclaimer

This research has been produced by an independent third party provider. Further details can be provided on request. Guardian Stockbrokers Limited is authorised and regulated by the Financial Conduct Authority (No. 492519). This report has been prepared using information available from public sources, which are believed to be reliable as at the date of this report. However, Guardian Stockbrokers, its employees and its independent third party provider make no representation as to the accuracy or completeness of this report. This report should therefore not be relied on as accurate or complete. The facts and opinions on this report are subject to change without notice. Guardian Stockbrokers, its employees and its independent third party provider have no obligation to modify or update this report in the event that any information on this report becomes inaccurate. This report is prepared for informational purpose only, with no recommendation or solicitation to buy or to sell. The background of any individual or other investor has not been considered in providing this report. Individuals and other investors should seek independent financial advice which considers their specific risks, objectives and specific constraints, and make their own informed decisions. Individuals and other investors should note that investing in shares carries a degree of risk and the value of investments can go up or down. Past performance is not a reliable indicator of future performance. Investments should be made with regard to an investor’s total portfolio. Guardian Stockbrokers, its independent third party provider and its employees make no representation or guarantee with regard to any investment noted on this report, and shall therefore not be liable with regard to any loss.

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100 poınt swıng on FTSE.

Dam it i closed my short last night .

DOW
nestling on that important 17,750 mark, so wait for reaction to the NFP numbers due shortly

Wıld swıngs on Dow. 100 poınts up and down. Not borıng thats for sure.

have been out since about 15:00 and i see all sorts of strange things

DOW has recovered from well below to well above 17,550
DAX remains below the important 9,440 mark despite a strongish recovery after the close
FTSE has clawed its way back above 6,500 but only just

Gone short on FTSE 100

6580

good call

Moved my stop down so ın profıt but undecıded about Dow today.

all a bit topsy turvy with no real direction

As you said earlier, NFP tomorrow would seem to be the trigger for a swing one way or the other.

confess that i had lost track of time as am holiday :-)

i see the expected number for NFP is 180,000, so bear that in mind at lunchtime tomorrow

More volatılty today I would expect wıth NFP ıs ıt comes ın way below agaın lıke last month.

no idea how the market will react no matter what the numbers

30 mins we should know NFP. Hoping for a good figure to boost the Friday afternoon trading.

NFP:
Expected : 180,000
Actual : 287,000
4.9% unemployment rate

DOW futures +104

Not too far off all time hıgh agaın.