Premarket Futures 22nd Oct

FTSE -2

DAX -17

DOW -29

S&P -3.2

Nasdaq -5.5

1 Day - 2 Day - 5 Day - News & Price	FTSE 250	FTSE Small Cap	FTSE TechMark
1 Day - 2 Day - 5 Day - Futures - News	Nasdaq 100	S&P 500	S&P Futures
DAX / CAC (Click)	Nikkei -141 - Hang Seng +13  News	10 Year Bond

News:	Sorry Your browser is not java capable
In the U.S gains in technology stocks pushed the Nasdaq higher but telecom's kept the Dow industrials in the red. BAE U.S. General Dynamics has dropped the idea of a transatlantic merger with BAE Systems after exploratory talks, according to the FT.Jarvis is out of the running for the NHS information technology programme, potentially worth hundreds of millions of pounds. SSL International said first-half sales rose 3 percent to 316 million pounds Shell A Russian minister criticised Royal Dutch/Shell and said it could lose its drilling licences after an investigation found a number of complaints GlaxoSmithKline reports at 11:00am Egg said it was in talks with potential joint-venture partners for its loss-making French business. 3rd quarter pre-tax profit at its main UK business rose to 20 million pounds ($33.49 million) from 9.4 million pounds a year earlier. No mention was made of the 79 percent shares owned by Prudential

Calendar: United Kingdom	United States (GMT)	Europe & World (GMT
GlaxoSmithKline (Q3) PBT 1,578-1712m exp. Egg (Q3) PBT consensus loss of 2m exp. Reuters (Instinet Trading statement) Diageo (AGM) 09.30  MPC vote breakdown.	Eastman Kodak, Schering Plough, McDonalds, Bank of NY, Merck, Computer Associates, Eli Lilly, AOL Time Warner, Anheuser-Busch Lucent Technologies (Q3), Whirlpool (Q3) Sungard Data Systems (Q3) Symantec (Q3), Tupperware (Q3)	Commerzbank, LOreal, Casino Adecco F (Q3) Michelin F Peugeot F Sanofi-Synthelabo F (Q3)
Ex Dividend: Aggreko Plc (2.2), Armour Group PLC (0.35), Axon Group Plc (1), Benchmark Group Plc (3.1), Bovis Homes Group Plc (5.3), Express Dairies Plc (9.6), Fairplace Consulting Plc (3), Go-Ahead Group Plc (18), Hays Plc (3.63), James R Knowles Holdings PLC (2.1), Kiln Plc (0.2), Mears Group Plc (0.35), Mowlem PLC (2.8), Ricardo Plc (6.3), SIG Plc (4.1),  Coal PLC (5), West Bromwich Albion Plc (170), Yule Catto & Co Plc (5.3)

EMail: Croc@SnappyTrader.com   WWW.SnappyTrader.com

Futures

Pivot Calculator

HTML Editor

FTSE PP WEDNESDAY

R2 4390
R1 4371
PP 4359
S1 4340
S2 4328

Close above Tue PP after loosing 1.1pts in the aucton. Again another range bound day making life difficult, to add to this i had chart probs which seem to be resolved now! Hopefully we will get the midweek turn or at least a clear trend!

Updated 10/21 for Wednesday's market.
Key DOW Levels for 10/22
UP Above 9,785
DN Below 9,725

Still in the Range
Dow trades sideways, backs off upper trend line late in session.

From prior commentary, "...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..."
The Dow was not able to successfully break through the important 9,780 level today, which caused the index to trade mostly sideways throughout the session, seen in the 15 Minute Chart. The Dow did make a move lower off the upper boundary of the wide range late in the session, which ultimately pushed the index into negative territory for the day.

As we mentioned yesterday, the index may continue to develop the potentially bullish range until a solid break from it occurs. The index clear stayed within the range boundaries and may make another pass down within the range tomorrow. A break below 9,740 will likely spark such a move tomorrow.

However, if the index can break above 9,780 tomorrow, we could see a solid move higher in the medium term. Continue to watch this range.

Short Term Dow

Short term, the Dow has formed a clear trend line beneath the lows of the last two days, seen in the 5 and 15 Minute Charts. A downside break of this line at 9,740 could spell weakness tomorrow morning.

Medium Term Dow

In the medium term, we are still out of the market, since none of our entry levels were triggered. We will watch 9,785 up, and 9,735 down, with 10 point stops.

NASDAQ & S&P

The NASDAQ outperformed both the S&P and the Dow today, as the index pushed higher for much of the session. Each index has broken out of the wide range, which could indicate further upside. *

Summary

The Dow traded sideways the entire session today and continues to trade within the boundaries of the wide trading range. An upside break from the range at 9,780 will likely spark a continuation to the upside, while a break below 9,740 will indicate another push lower within the range.


STOCKCHARTS

10/21: Sloppy upward advance is corrective, so we get another leg down at least the size of the previous decline.
Technicals also failing to confirm the rally so far.
Not clear yet if this is just a correction or the start of a much larger decline.
Having said that, the sloppy nature of the advance over the last 2 days offers a decent near term short op, with a stop at the 9850 high.
If this is a 3rd wave down due here, expect it to be obvious with a rapid decline down to or below 9500.

Thanks TP
Morning all

Colt set to buy Fibernet for 1.45?

Morning all

Small change on the header is a news link to the FT page on the UK, US and Far East markets. Specific financial news to each region and prices.

G'day everyone - shorters happy at the moment.

Ok looking on the positive side there's several good buying opportunities out there today - house builders and banks hit pretty hard so some now are looking quite reasonable compared with recently. A sense of humour may be essential kit by the end of the day. Be lucky people!!!