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Traders Thread - Tuesday 29th July (BP.)
Crocodile - 28 Jul 2003 23:53
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S&P &Futures (Click for latest)
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Pre Market Futures (7:30) | |
| FTSE | -5 | ||
| TechMark | -+ | ||
| DAX | Unch | ||
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Hang Seng +60
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Nikkei +19
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DOW | Unch |
| S&P | 0.8 | ||
| Nasdaq | -0.5 | ||
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News Headlines: US stocks ended mixed despite upgrades of AT&T and Walt Disney but were cautious starting a week filled with earnings and economic news. House prices rose 1.0 percent in July, slightly more than June's 0.9 percent increase IG INDEX said it had agreed to a 255 per share 143 million pound offer from a bid vehicle called IGGHL that is backed by the company's executive directors. Amersham: healthcare said that adverse foreign exchange moves took a big chunk out of first-half profits, but it was on course for solid full-year growth at constant currency rates. Profit before tax fell 12 percent to 140 million pounds againts the consensus forecast of 143 million pounds United Business Media: UK publishing and market said its first-half pre-tax profit rose 12 percent to 45.5 million pounds, citing improvements in the U.S. advertising market. They own PR Newswire and has a stake in UK broadcaster Channel 5, said turnover fell 16.7 percent to 344 million pounds but raised its dividend 10 percent to 3.3 pence per share. The company posted a loss of 17.5 million pounds, or 5.3 pence per share, compared with a loss of 50.3 million pounds, or 15.1 pence per share, a year earlier. Prudential:slashed its interim dividend by 40 percent to 5.3 pence in line with analysts' expectations.Flat total insurance and investment sales of 2003 of 15.5 billion pounds and recorded a new business achieved profit of 303 million pounds, down 18 percent -- again in line with expectations. BP: Awaiting Data At 10AM BAT: reported a 25 percent fall in half-year profits but said it remained on track in a challenging year. They reported first-half 2003 pre-tax profits of 762 million pounds Orange: Sales rose 6.9% with new products such as photo messaging. Novar: building materials firm said that headline earnings fell 25 percent in the first half of 2003 from a year earlier, hit by tough markets and adverse currency movements. They also said it faced "a number of challenges" to meet its full-year expectations. Cookson electronics and ceramics engineer posted a 67 percent rise after reducing its cost structure. The company said its operating profit was 22.2 million pounds for the six months to the end of June but sales for continuing operations were four percent lower at 827 million pounds due to the effect of currenct translation.
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djbinlid - 29 Jul 2003 10:54 - 6 of 20
fredbear
- 29 Jul 2003 12:01
- 7 of 20
:)
Druid2
- 29 Jul 2003 13:22
- 8 of 20
ThePlayboy
- 29 Jul 2003 13:57
- 9 of 20
ThePlayboy
- 29 Jul 2003 13:57
- 10 of 20
DN Below 9,225
Consolidating
Dow consolidates at resistance.
From prior commentary, "...The index ended the day right at the solid 9,280 resistance level, seen in the 60 Minute Chart, which will be our main focus Monday. The Dow has turned down precisely off this resistance level twice in the past two weeks, so we will want to keep a close eye on the activity around it for Monday's trading..."
The Dow continues to hold at resistance, as the index formed a very tight consolidation at the highs of the current upmove, as seen in the 15 Minute Chart. The index consolidated throughout the session in a tight range from 9,235 to 9,305, which we will watch closely tomorrow.
The fact that the index was able to hold on to Friday's big gains is positive heading into tomorrow's market. An upside break typically occurs when a consolidation has formed at the highs. Therefore, an upside break at 9,305 will indicate further upside movement.
However, a downside break from the consolidation will be just as 'potent' as an upside break. In fact, the consolidation is forming a rectangular pattern, which is one of the most powerful patterns to trade on breaks - in either direction. So, we will also pay attention to the lower boundary of the tight range at 9,235. A break here will likely push the index back down within the wide trading range, seen in the 60 Minute Chart.
Short Term Dow
The Dow has formed a tight range from 9,240 to 9,300, seen in the 5 Minute Chart. A break from this range will likely spark a move in the direction of the break for tomorrow's Open.
Medium Term Dow
In the medium term, we entered the market Short this morning at 9,240, but took a 10 point loss in the position. We later entered the market Long at 9,300, but were stopped out a second time there. We are currently out of the market and will watch 9,225 down, and 9,315 up, with 10 point stops.
NASDAQ & S&P
The NASDAQ and S&P each consolidated alongside the Dow today, forming very tight ranges at the highs. Watch these ranges tomorrow. *
Summary
The Dow traded sideways the entire session today, forming a clear consolidation at the highs right at the major 9,280 resistance level. A break from the consolidation should be traded tomorrow. Watch 9,225 down, and 9,315 up.
hursheel - 29 Jul 2003 14:26 - 11 of 20
Kingeric - 29 Jul 2003 14:28 - 12 of 20
ThePlayboy
- 29 Jul 2003 14:30
- 13 of 20
http://www.21stcenturyfutures.com/page/tcf/
ThePlayboy
- 29 Jul 2003 14:32
- 14 of 20
Pivot points
r2 4296
r1 4177
pp 4154
s1 4125
s2 4102
trading btween 4117 / 4161 and next 4218 FIB levels!
CONSUMER CONFIDENCE AT 3PM
Crocodile - 29 Jul 2003 15:09 - 15 of 20
Crocodile - 29 Jul 2003 15:43 - 16 of 20
latestarter - 29 Jul 2003 15:45 - 17 of 20
hursheel - 29 Jul 2003 16:06 - 18 of 20
Druid2
- 29 Jul 2003 19:58
- 19 of 20
arkwright - 29 Jul 2003 20:47 - 20 of 20
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