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Data Download	FTSE Intraday	Calendar	US Zone	HTML Edit	Currency Calc	Dividends	Director Dealings	Broker Upgrades / Tips
Good Hunting all			Pre Market Futures	FTSE +1	DAX+10	DOW+25	S&P+2.9	Nasdaq+7

Couple of P&F charts above that show how confusing
I'm finding these markets.

Top one is the Dow Jones Eustoxx50 which I sometimes use
as a proxy for the S&P.
To me it looks Bearish with a descending triple bottom
and lower highs.

The bottom one is the Ftse100 which is showing an ascending
triple top, which to me looks Bullish.
The low that took out the double bottom was the Madrid low
which may be an aberration. If you take a line through
the previous two lows and the next higher low, it didn't
breach it.

Anyone got any firm convictions?

Melnibone (In puzzled mode)

 

X

1160

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O

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1150

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1140

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1130

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1110

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1030

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To add fuel to the fire, above is the S&P, which shows
how the US has changed from Bullish to Bearish with
lower highs and lows.

SHEL and BP. are probably having a stabilizing effect in addition
to the natural defensive make-up of the Ftse.
Plus, as Martini pointed out, there does seem to be some
sector rotation going on.
Just fishing for reasons really, on why the FTSE isn't testing
4300 by now.

Melnibone.

Melnibone - I look at similar trades to you (find your posts very interesting) and on UKX I am simply waiting for a break of the the current sideways range on a closing basis. Trying to forecast a break is too risky for me so I'll just wait for confirmation.

Good luck!

You're probably right, Velocity.
Trying to call the direction of a range break can be detrimental
to your wealth. :-)

I just get irked when stuff doesn't drop into place.
Guess it's a control freak thing that I need to deal with. :-)

Melnibone.