S&P Futures Nikkei +115 Hang Seng +73
7:30am Futures FTSE -8 Techmark -2 DAX -8 Dow -9 S&P -0.6 Nasdaq Unch
News Headlines: U.S. stock markets stayed in a tight trading range after swinging between positive and negative territory all day but just managed to close on the upside. BSkyB Finance Director Martin Stewart has thrown his hat into the ring for the top job against Rupert Murdoch's son James Rhodia sacks CEO, watch out for fallout on ICI!   United Kingdom Calendar (F)inals (I)nterim    United States  (GMT)   Europe & World (GMT) Fri 3rd October British Airways September Traffic Figures 09.30 September CIPS Services PMI 57.0 exp. 13.30 September Non-Farm Payrolls 25k exp. 15.00 September Non-Manufacturing ISM 63.7 exp. 09.00 September Services PMI 52.5 exp. 11.00 August OECD Leading Indicator Good Trading!      david@FTSEDOW.com     www.FTSEDOW.com Pivot Calculator

Morning croc:
As they say the early bird catches the worm -But in my case I might come across a cobra!!!!.
How do you think the dow is going to fare today? Do you thinkthat with the Jobless figures etc will fall flat?? I hope so as i have got some shorts which i would not mind getting satisfied.

rgds
zarif

FTSE PP FOR FRI

r2 4235.7
r1 4222.4
pp 4195.8
s1 4182.5
s2 4155.9

Ftse closed at the highs above R1 after gaining 13.7 pts in the auction! Ftse still above my 6o min sig line and right on my long term sig line. R2 4235 is my tgt for the ftse, level is also the 61.8fib of the fall, with 4250/60 max upside imho ftm! Dow could easily test the lower line of the uptrend channel at 9600, close above 1021 positive for today. Friday normally the weakest day of the week, but feel a few more days of strength on the cards. IMHO!






Updated 10/2 for Friday's market.
Key DOW Levels for 10/3
UP Above 9,525
DN Below 9,230

Tight Range
Dow rallies off 9,230 support.

From prior commentary, "...The index looks good to continue higher in the medium term, especially if the index can form a continuation pattern at the highs. A higher low or a consolidation at the high is very likely tomorrow..."
The Dow was able to hold on to yesterday's gain, as the index moved sideways throughout the session, tacking on another 19 points for the day.

The index has now formed a tight consolidation at the highs of the 15 Minute Chart from 9,445 to 9,510, which indicates continued strength. An upside break from the consolidation at 9,445 will likely spark a continuation toward the 9,600 level.

HOWEVER, the index has also retraced 62% of the downmove that began from the highs of 9/19 to the lows of 9/30, seen in the 60 Minute Chart. Markets tend to react to key Fibonacci retracement points (38%, 50% 62%), therefore, we are very likely to see the index form a lower high and pull back down toward major support at 9,230. A downside break from today's range at 9,445 could spark such a move.

Short Term Dow

Short term, the Dow is holding above support at 9,475, seen in the 1 Minute Chart. A downside break of this level will indicate weakness at the Open. Use this level as a fulcrum for short term direction.

Medium Term Dow

In the medium term, we are still Long the Dow from 9,381 and will move stops up to 9,425 to lock in profits, but leaving enough room to allow for a possible continuation. We will stay Long above 9,525, but will not Short until 9,230 is crossed to the downside. This is a major support level, and we believe that fluctuations between where we are and this level will "whipsaw" and stop us out, so we are avoiding Short trades above this level.

NASDAQ & S&P

The NASDAQ and S&P each pushed sideways alongside the Dow today, forming tight consolidations at the highs. Look for a break from the ranges tomorrow. *

Summary

The Dow traded mostly sideways today, but was able to tack gains onto yesterday's big rally. The index has formed a tight consolidation at the highs of the 15 Minute Chart, which implies a continuation. However, the fact that the index is sitting at 62% Retracement makes the case for a retracement back toward support.

Thanns TP
Morning all

No real market direction, sooooooooooo slow. Sit on your hands time is the best bet I reckon

Morning all,

Only day this week when I have time to deal.

British Airways passenger numbers @ 2:15pm

The importance of using a 2 day intraday trend chart to aid in predicting
market direction

 

Basically if you draw the previous days trend lines through on to todays graph it can show you when the market is overbought or oversold.
You have to remember automated computer trading systems have no idea that the market was closed overnight and want to continue the new day as if there was no gap.
So if the start of day futures are -20 and the previous days trend was positive at the close the FTSE will normally bounce back very quickly to narrow the gap. This simply triggers computerised buying programs.
Just the opposite if you have positive futures.

Interesting

LITTLE WOMAN - sorry to interupt...I'm playing messenger here....but there's a question on the investors board a guy (assuming here..!)put up some days ago titled EX-DIVIDEND, anyway he would really like your input on buying for dividends. Wondered if you'd seen it as you usually respond really helpfully to any questions put your way. Have a great weekend people and hope its been a happy trading end of week for you!

I've been away from the internet a lot lately - will see if I can find the thread.

Ex Divi info
http://www.ftsedow.com/ta/ta.htm#divi