Gold
	S&P &Futures (Click for latest)	Pre Market Futures (7:30)
		FTSE	+13
		TechMark	+3
		DAX	+15
Hang Seng +102	Nikkei +160	DOW	+6
		S&P	+1
		Nasdaq	+4

 

News Headlines:    Upgrades and downgrades for UK stocks on Friday, Credit Suisse First Boston has set a new share price target for broadcaster BSkyB  of 820 pence, along with an investment rating of "outperform". Morgan Stanley has raised its rating on water utility Severn Trent  to "overweight" from "equal-weight" share-price target for the stock to 800 pence from 750p. The bank also cut its price target on water and power firm United Utilities  to 600 pence from 670p, keeping an "equal-weight" rating. Broker Evolution Beeson Gregory has raised its rating on Carphone Warehouse Group to "buy" from "outperform", on the back of recent weakness in the phone seller's share price and maintained a price target of 115 pence per share on the firm. Deutsche Bank has cut its share price target for property firm Canary Wharf Group to 210 pence from 235p, while maintaining its "sell" investment rating on the stock. "Since the announcement on June 6 that the company has received multiple approaches regarding a possible bid, there has been no follow-up news on any potential deal," analyst Jeremy Anagnos wrote in a research note. UBS has raised its share price target on retailer Matalan to 200 pence from 179p and rates the stock as "neutral". BAA says it handled 13.2 million passengers at its seven British airports in July, up 2.2 percent on the same month last year. They said it would have had its busiest month ever without a wildcat strike by British Airways check-in staff at Heathrow in July. Calendar All GMT United Kingdom (F)inals (I)nterim United States (Click Flag) Europe & World Mon 11th August Reporting Company Updates Financial Data BAA July Traffic Figures Morgan Sindall (I) PBT 1.5m exp. Management Consulting (I), Workspace Group (Q1) 00.01 July BRC Retail Sales Monitor Europe: SAS AB (Q2) 09.30 July PPI Input m/m 0.7% exp. 09.30 July PPI Output m/m 0.1% exp. 09.30 June Non-EU Trade Balance -1.85bn exp.     Good Trading!   David@FTSEDOW.com    www.FTSEDOW.com            Pivot Calculator

Always a good read!!

:-)

Jeff

Long on the the follwing:

ISYS
MDY
MT.

Roll on Monday am!!

Jeff

:-) or :-(

Jeff

Good Morning All.

:-)

Jeff

MARKETS CLOSE at 4.30

DJ 9152
S&P 975.6
NAS 1644

MONDAYS FTSE PP

R2 4199.8
R1 4173.8
PP 4134.7
S1 4108.7
S2 4069.6

Close above Fri r2 after gaining 3.5 pts in the auction, back into the 4117/4161 FIB trading range after testing the higher FIB level! Dj at our close was above its PP, possibility of stocks being held up into option exp later next week

WEEKLY FTSE PP

R2 4233.5
r1 4190.6
pp 4117.8 (FIB level)
s1 4074.9
s2 4002.1

Managed to close above last weeks weekly PP!

Updated 8/8 for Monday's market.
Key DOW Levels for 8/11
UP Above 9,200
DN Below 9,150

Consolidating
Dow trades sideways, forms tight consolidation at the highs.

From prior commentary, "...The Daily Chart shows that the 9,000 level continues to hold steady for the second straight session. It is safe to say that the index will not get another solid move lower until this level is cleanly broken. If the index continues to hold above this level, look for another push higher within the wide trading range..."
The Dow moved higher at the Open, but stalled the rest of the session to form a tight consolidation at the highs from 9,150 to 9,200, seen in the 15 Minute Chart. Looking at the Daily Chart shows that the index continues to move slowly higher within the wide trading range, further solidifying the fact that the 9,000 level is key support.

The Dow has formed a clear trend line beneath the lows of the 15 Minute Chart. A downside break of this line at 9,150 will likely spark a move back down toward the 9,000 level. On the Long side, an upside break through the top of the consolidation at 9,200 will likely fuel another push higher within the wide trading range. Watch this range tomorrow.

We have had several small losses this week, as we have traded the breaks out of the trading ranges. Our "fulcrum" method is based on movement away from a fulcrum, and sometimes, we don't get the move, as has been the case this week. We feel the market is getting close to a Decision Point, and will make one of these moves. We will watch 9,150 down, and 9,200 up Monday.

Short Term Dow

Short term, the Dow has formed a tight trading range from 9,150 to 9,182, seen in the 5 Minute Chart. Watch for a break from this range for short term direction.

Medium Term Dow

In the medium term, we entered the market Long this morning at 9,181, but were stopped out again on a trading range reversal. No other trades were triggered and we are now out of the market.

NASDAQ & S&P

The NASDAQ and S&P each traded sideways alongside the Dow today. Watch support on the NASDAQ tomorrow, and the tight consolidation formed in the S&P. *

Summary

The Dow moved strictly sideways today, forming a tight consolidation at the highs from 9,150 to 9,200. Watch this range for entries Monday.

Thanks for listening, and Good luck in your trading..

Morning all, Best of luck for the day.

Morning all.