S&P Futures Nikkei -94 Hang Seng -19
7:30am Futures FTSE +10 Techmark +5 DAX +24 Dow -17 S&P -0.5 Nasdaq -3
News Headlines: US stocks surged to new multi-month highs with buyers diving into technology and financial stocks on bets that the recovery is on track. The FTSE 100 index is set to rise, tracking Wall Street's overnight surge economic data bolstered confidence that an economic recovery will quickly feed into company profits. So-called witching or expiry of futures and options on shares takes place on Friday, with double-witching in London scheduled to take place mid-morning. The expiry often produces large trades in index futures, options and the underlying stocks, triggering volatile market moves.Brambles: The world's largest pallet supplier said it had not received a bid approach, damping down persistent speculation that it might be the target of a bidEMI The music company is looking to muscle into merger discussions with Warner Music and has been lobbying AOL Time Warner to return to the negotiating tableMyTravel: First Choice: Travel firms could rise after TUI, Europe's largest tourism firm, said late on Thursday it expected tourism sales and profits to grow next year. House of Fraser department store chain is expected to release a full version of its interim results, after unveiling a narrower first-half loss and saying like-for-like sales were up at the start of the second-half after a flat first half. The retailer had to bring forward its results, originally scheduled for next Wednesday, after a news wire published draft results. Granada said the broadcaster would have to "look very carefully" at selling the advertising sales houses of both it and Carlton, if regulators required the move to approve the proposed merger between the companies. De La Rue commercial printer of banknotes, said its first-half results would beat expectations because it was ahead of schedule with a contract to supply banknotes to Iraq. United Kingdom  (F)inals (I)nterim  United States  (GMT) Europe & World (GMT) Fri 19th Sep International Energy (I), Johnson Service Group (I), Kiln (I), Minerva (F),S&U (I), Selfridges (I)Index Future & Option Expiry (Double Witching) 10.10 10.30 SETS Price Monitoring InactiveFTSE Index Quarterly Reshuffle & Weighting Changes - Effective after the close of business. Watch Out! Double / Triple Witching Day  Click here for information 07.00 Aug German Producer Prices m/m 11.00 2nd Quarter Production in Construction 11.00 2nd Quarter Labour Costs y/y Good Trading!      david@FTSEDOW.com     www.FTSEDOW.com Pivot Calculator

FRI FTSE PP

r2 4334.9
r1 4324.8
pp 4304.6
s1 4294.5
s2 4274.3

Close was above Thu pp after gaining "6 points" in the auction, closing at the highs, not one sell sig on the Dj all afternoon heading for 9650 as mentioned at the start of THU thread! Max pain/joy day tomorrow! TH tgt of 9850 looking more likely, with divergence would put ftse at 4420!

Updated 9/18 for Friday's market.
Key DOW Levels for 9/19
UP Above 9,675
DN Below 9,600

Through Resistance
Dow breaks through resistance, rallies to the Close.

From prior commentary, "...The index halted today's upmove right at the major 9,600 resistance level, seen in the 60 Minute Chart. This level makes it quite clear that the index must break through it in order to progress in the current major uptrend..."
The Dow has continued to push sharply higher out of the large, sloping consolidation that we've mentioned from the 60 Minute Chart. Today's upside break through solid resistance at 9,600, sparked an even further push higher, making for a 113 point gain for the session, seen in the 15 Minute Chart.

Look for further upside medium term movement above the major lower trend line, seen in the Daily Chart. The Dow has held above this line since March and will continue to do so until the line is violated.

The index is fast approaching the consolidation target of the prior, major consolidation (which it broke through three days ago) at about 9,770.
We get this figure by taking the difference between the center of the consolidation at 9,500 and the recent prior low at 9,230, which gives us a 270 point differential.

We then project the 270 points from the center of the consolidation to give us a target of 9,770. Watch for a push to this target before visible weakness sets in. On the downside, a break down through the prior resistance level at 9,600 will indicate weakness as well.

Short Term Dow

Short term, the Dow has formed a trend line beneath the lows of the 5 Minute Chart. A downside break of the line at 9,650 will indicate weakness tomorrow morning.

Medium Term Dow

In the medium term, we are still Long the Dow from 9,512 and will move our stops up to 9,600 for tomorrow's market. We will stay Long above 9,675, and look for Shorts below 9,600, with 10 point stops.

NASDAQ & S&P

The NASDAQ and S&P each broke through resistance today, which sparked sharp rallies to the Close. Look for further strength above resistance tomorrow. *

Summary

The Dow continues to rally out of the large consolidation, but is now approaching its target at 9,770. Look for further strength above key resistance at 9,600 tomorrow.

Morning all ..

jules99; On limit orders in the UK you will have to use a CFD.

Thanks Bullshare, I kind of gathered, wanted to be sure...

ta...

Jules99.

Morning all. Good luck to all who are placing limit orders 105 & 20% away and hope you get them if there is a big fluctuation this morning.

Bullshare

- am I missing something? But I use Limit orders on my Comdirect conventional share trading account. (I always manage to "catch" really good prices, and really should not just use it when I'm not around!)

Or do you just mean that the type of limit orders you are using can only be done on CFD?

raptor
For Friday, 5th wave of 5 wave channel is complete or near complete. Final peak has potential target of 1044. Confirmation of a reversal comes on a break below 1031 support. Watch for potential early downside to maybe 1035 with a recovery to 1044 later in the day. However, any break below 1035 is a warning for the bulls and a break below 1031 suggests rally is complete.