Limpsfield's Weekly Chart View

The big levels mentioned last week for the Dow proved pivotal once again, setting up a strong rally from Monday that didnt peter out till Friday. However, these markets are still not out of the woods yet and there are some key barriers that need to be cracked to signal there is a lot more upside to come.FTSE 100Intraday FTSE Friday saw the FTSE pushing back up towards the 5000 mark, completing a 100 point recovery from Mondays low. However, the slide that has been in place since mid February is still in force. We need to see a decisive move through 5000 and holding above here for a couple of days to put things back into a properly bullish mode and set up a run back to the highs for 2005. At the moment, particularly in the light of the US weakness on Friday, the expectation is for the FTSE to slide early in the week at least. Dow Jones Intraday Dow The US markets remain the key ones to watch in my view for the next major move. The lows for the year have held once more over the past week and any dips down to the 10,350/10,400 area remains a buying opportunity. The key short term resistance level at the moment is 10,570 and again the Dow ran out of steam ahead of this last week. We need move through here to shake off any remaining weakness and set up a move back to the highs for the year. For now, while above the lows for the year, the index remains more bullish than bearish. However, for those of us not blessed with crystal balls, it pays to look at the alternatives. If things dont pan out like this then a move through 10,350 looks pretty bearish and should be a case of look out below. This would put the index on new lows for the year and suggest the slide from 10,980 has got further to run with nothing in the line of major support till around the psychological 10,000 level. It should be another interesting and volatile week. Limpsfield Limpsfield is David Jones, the widely acclaimed charting expert at Shares Magazine who also hosts regular Charting courses for Global Markets Training (www.glomtc.com)

Hello traders!

I apologise that this is a bit late starting this week but there has been a lot to catch up on since my return from London yesterday.

There is a little more to read this week as I've added a brief summary of the Traders Day in London. Be sure to hit the "All Messages" button to catch everything.

I have a small problem with one of Limpsfield's charts this week which I will rectify as soon as possible. I hope it doesn't spoil your day too much.

Enjoy the rest of your weekend!

See you in the morning with breaking UK news......

G.

Afternoon All

Obviously an excellent day on Friday - sorry to have missed it.

Good morning traders!

In Asia this morning, markets are almost universally negative, following perceived weakness on Wall Street on Friday.

Off to search for some UK news....

Happy trading!

G.

PS Extra long threader header today. Don't forget to hit the "All Messages" button to catch it all... :-)

02 UPGRADED TO 'OVERWEIGHT' FROM 'EQUALWEIGHT' AT MORGAN STANLEY

SMITHS GROUP STARTED WITH 'OVERWEIGHT' AT MORGAN STANLEY, TARGET 950P

Good morning all.

Morning all.

Good Morning all,

Not sure whats going on BLLM (long term high risk punt - in doldrums)- price up 17.5p thats 100%?????
Must have misread it :-)!

Morning All,

Offer on Jennings at last.

Not good news for Real Ale fans I fancy but nice If you have the shares.

It seems the increase in BLLM price is due to the share change of 1 for 500

Goodnight all.

A bit more going on tomorrow with TSCO, MKS and S+N in the news, so maybe a bit more action here too.... ;-)

See you then.

G.