Gold
	S&P &Futures (Click for latest)	Pre Market Futures (7:30)
		FTSE	-7
		TechMark	-3
		DAX	-14
Hang Seng -62	Nikkei -158	DOW	-13
		S&P	-2.1
		Nasdaq	-4

 

News Headlines:    EMI shares may rise with takeover rumours HSBC results later on this morning British Airways: : Ebookers says it is currently seeing lower-than-expected demand for some long- and mid-haul destinations, triggered by the effects of the deadly virus SARS and the Iraq war on consumer demand Inchcape motor vehicle distributor has posted a 16.5 percent rise in first-half profit and says market trends are likely to remain similar in its seasonally weaker second half. The firm sells nearly a fifth of the world's Maserati and Ferrari luxury sports cars, reported a profit of 66.4 million pounds beating analysts forecast of 64.1 million. Ultra Electronics has posted an 14.9 percent surge in first-half pre-tax profits to 15.8 million, and says it sees full-year results in line with estimates Calendar All GMT United Kingdom (F)inals (I)nterim United States (Click Flag) Europe & World Mon 4th August Reporting Company Updates Financial Data HSBC (I) PBT 3,200m exp. Chubb (I), ebookers (I), Inchcape (I), Mayflower (I), Ultra Electronics (I) British Airways July Traffic Figures 09.30 July CIPS Construction Indtry PMI Europe: 09.30 July Preliminary M0 Money Supply y/y 7.3% exp. 15.00  June Factory Orders 1.5% exp. Altana (Q2), Singul (Q2), Statoil (Q2) 11.00  June PPI m/m 0.1% exp. Good Trading!   David@FTSEDOW.com    www.FTSEDOW.com            Pivot Calculator

MON FTSE PP

r2 4177.6
r1 4138
pp 4117 (recent fib level)
s1 4077.7
s2 4057

lost 8.2 pts in the auction to close below Fridays S1 level, also closed below the previous strong Fib level of 4117, new FIB range therefore 4085/4117! DJ at our close was just above s1, needs to hold 9150.

WEEKLY FTSE PP

R2 4212
R1 4155.3
PP 4126
S1 4069
S2 4039.7

Close below weekly pp not bullish, high of this week was Monday and low of the week was on Friday!

Updated 8/1 for Monday's market.
Key DOW Levels for 8/4
UP Above 9,200
DN Below 9,135

Consolidating
Dow pushes lower, consolidates at the lows. Watch boundaries Monday.

From prior commentary, "...As has typically been the case as of late, the index continues to trade in a volatile fashion within the wide trading range...Look for further range movement within the boundaries of 9,150 and 9,360..."
The Dow moved lower right from the Open this morning and pushed down to the major lower trend line at 9,150, seen in the Daily and 60 Minute Charts. The index spent the rest of the session consolidating at the lows right at the lower line. The index has formed a tight range at the lows from 9,140 to 9,200, seen in the 15 Minute Chart.

The index is right at a key decision point, as the Dow is currently holding at the major lower trend line. A break either way from the tight consolidation will indicate whether the index will rally back within the range or finally get a major downside break of the long term lower line.

Since the consolidation has formed at the lows of the current move, a downside break is the most likely scenario. Therefore, watch for a break at 9,140, as this level could lead to a much further retracement. Otherwise, an upside break from the range at 9,200 could send the index back up toward the 9,360 area of the wide range.

Short Term Dow

Short term, the Dow has formed a tight range from 9,140 to 9,200, seen in the 5 Minute Chart. Watch for a break from this range to indicate direction for Monday's Open.

Medium Term Dow

In the medium term, we entered the market Short this morning at 9,150, but covered the position for a 10 point loss. No other trades were triggered and we are now out of the market. We will watch the consolidation boundaries for Monday's market. Watch 9,135 down, and 9,200 up, with 10 point stops.

NASDAQ & S&P

The NASDAQ and S&P each mirrored the Dow today, as each pushed lower from the outset followed by the formation of a consolidation. The consolidation boundaries will be our main focus for Monday's Open. *

Summary

The Dow trended lower at the Open, then formed a tight consolidation at the lows, which we will watch carefully for Monday's market. A downside break will indicate a steeper retracement, while an upside break will push the index back into the wide trading range. Watch 9,135 down, and 9,200 up Monday.

Morning all
Looks like a weak start for the FTSE with Far East markets down and negative US futures.

Croc, I know after all this time this may seem a silly question, and it's taken me this long to realise! - but when I take a look at this thread soon after it is first posted there is loads of really useful info. But later I return to take a look, and a lot of it has gone! I know some of it then reappears on the actual day it refers to, but it would be really useful it stayed up!

raptor:For Monday, the index appears to be developing a corrective flat on the low with only the c wave up to complete the pattern. If true, minor downside is possible on the open but this would be expected to lead to a small rally during the morning hours. However, the day would then be expected to turn down to move lower by the afternoon with support near 978 and 976 possible breaking. Resistance above is near 985 and then 1004. Resistance at 985 would best contain the flat on the low.

little woman - if you click on "calendar" on croc's things above it will open the whole lot for you.(FTSEDOW)

PB - hope Raptor's right as I am still holding my shorts. Sarah (Stockcharts.com) looking for a down week.

Druid2-must confess not really a raptor man, post it for others to make their minds up, more a Morning Call Mohan, Tom H person!

General consensus is down, up and then down later, easy day then:)

PB - noted - Is TomH back from hols this week?

I think that trebblewide was going to set up an e-mail letter covering a few of the "guru's" and sent him my address but haven't heard since - perhaps he has not set it up yet?

Thanks Druid2

D2-travelling back today I think!

PB tks.

D2- just read he expect first 30mins down to daily low and then a positive bias for the rest of the day

Hello.

Here's a link to a German site which some may or may not know about which has TA and Ewave from several different quality German contributors. It's especially good for those of you who may follow the Dax, also has lots of NDX and SPX, DOW updates etc. Have been using it for quite a while now and like it, have put the URL through a translator for those who's German isnt up to scratch (lol).

Site will appear in English through this one:

http://babelfish.altavista.com/babelfish/urltrurl?lp=de_en&url=http%3A%2F%2Fwww.wallstreet-online.de%2Fws%2Fnews%2Fnews%2Fmain.php%3Faction%3Dviewautor%26m%3D3.22.3.0.0%26

In German through this one:

http://www.wallstreet-online.de/

For words, which the automatic translator misses, figure out where the word should be broken, put a space there and put in this:

http://translation1.paralink.com/

TUE FTSE PP

R2 4172.4
R1 4136.2
PP 4111.2
S1 4075
S2 4050

Closed below Mon PP after gaining 2.9pts in the auction, close was below weekly pp! Still close in the FIB 4085/4117 trading range after earlier decisive break past daily r1 to 4147.4 high. Dj just above s2 at our close, mohan looking for a rally now with a pos pullback later, 5min Dj buy sig at 9087, Dj really needs to regain the 9150 imho, opportunites for bull and bear, especially today, buying the morning dip and selling the rally,have a good evening!

Litte woman
It moves down to posting 2 to allow for todays news.
If you click on all mesages it shows you all the news.
Or as Druid kindly said above you can go to www.ftsedow.com
Regards
David

Was I here, no, only looking and then I see a post. Sorry, hit the wrong button. Oh well, croc hope it helps.

croc, now I'm here, sorry I missed your phone call. Anytime Tuesday will be OK.

Evening, Trawler, nice to see you somewhere where we're both still allowed to post :)

Regards

MM

Hasn't that chap got the wrong shirt on?

MM, hello old chap. Nice to talk to you somewhere where you are not trying to score points. You sound like your real self.

Regards also,

T.