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Martini: A wonderful thought and I am sure Croc would be pleased that the trading community he has built continues. Day in and day out, come rain, shine or personal ill health he would be busy creating the daily and weekend traders thread right through to the very early hours. As you have said one of the best tributes everyone can make is to get stuck in, keep working together and take money out of the market, something he strongly advocated himself.

So on a trading note looks like the US had a nice positive end to the day with a rally in Financials and a general rise on the pullback of oil prices. So Dow closes +159,looks like a positive day in the UK.


Mike

morning campers :-)

Updated 5/25 for Wednesday's market.
Key DOW Levels for 5/26
UP Above 10,150
DN Below 10,050

Steady Rise
Dow reverses off lows, rallies steadily to the Close.

From prior commentary, "...Look for the index to continue trading within the range boundaries until a break of either the upper or lower boundary occurs. Such a break will likely fuel a rather sizeable move in the direction of the break..."
The Dow opened the session lower this morning, but reversed sharply off the lows, sparking a steady climb the remainder of the session, seen in the 15 and 60 Minute Charts. The Dow ended the day higher by 159 points and is now holding right at the upper boundary of the sloping trading range at 10,120, seen in the 60 Minute Chart.

Today's rally off the lows could spark the big upside reversal that we were looking for two weeks ago. The Daily Chart shows the Dow is still holding at the lower boundary of the wide, downward-sloping range. An upside push through 10,150 will likely make for a steady rise toward the upper boundary of the range at around 10,400.

The Dow could form a continuation pattern at the highs before another move is seen, however. Otherwise, a break back below 10,050 will likely make for continued volatility within the current trading range, which has formed from 9,925 to 10,120.

Short Term Dow

Short term, the Dow has formed a clear trend line beneath the lows of the day's rally, seen in the 5 Minute Chart. A downside break of the line at 10,080 will likely make for weakness at the Open.

Medium Term Dow

In the medium term, we are still out of the market, since none of our entry levels were triggered. We will watch 10,050 down, and 10,150 up tomorrow; using 20 point stops.

NASDAQ & S&P

The S&P and NASDAQ each rallied off the day's lows, making for a steady rise in the market. Look for a continuation pattern to form to indicate a likely upside follow-through. *

Summary

The Dow reversed off the day's lows, fueling a sharp and steady rally to the Close. Look for continued strength above 10,050 tomorrow, especially if 10,150 is crossed to the upside.

15

60

daily

WEDS FTSE PP

R2 4447
R1 4432
PP 4415
S1 4400
S2 4382

Ftse closed below pp on Tue and lost .3 in the auction, ex div day but big gap up at open + 36 on IG, pos test of top of range at 70, i will be selling the intial gap up but caution to test the strength of those dip buyers vs sell the bounce!

Morning all

Thanks Martini, a fitting epitaph to David.

Any MoneyAM people around? I can't log in to the Traders room using my 'kyoto98' account... is there a problem?

no reported probs over there atm

Morning all
Thanks Martini, I am sure that Croc would have been pleased his good work has carried on, happy trading everyone.

Kyoto,

I have sent you an E mail in reply to yours which will resolve the problem for you.

Ian

IanT - thanks - I'd just realised what the problem was... I'll go stand in the corner for the rest of the day! :-) /D\

IanT - actually, since I basically had to register my updated card details and upgrade my subscription - I thought I'd use my "Kyoto" account instead. Please feel free to downgrade "kyoto98" again. Never liked that username anyway - bit of a hangover from earlier times.

I don't know why I always think that when my card gets updated the number stays the same - probably never notice because I usually try to avoid these 'continuous authority' type transactions.

Perhaps an email reminder of the need to update card details wouldn't go amiss though - your system should know because you have the expiry date on file... of course I should know as well, but as I think we've already established this morning, my brain isn't working at the moment :-)

Martini

A great gesture which must have been very difficult for you.

Morning all.

Kyoto,

we actually send out 5 E mails to remind when the card expires, as the system will automatically try to take the payment for 5 days. Afte rthis point if no new card has been added the system will then suspend the account.

The E mails were sent to the E mail address you originally entered.

Ian

IanT,

If that's the case I have some worrying news. The email address you had on file was presumably the same one(?) the system was sending daily HIGH NOON etc. updates to (even on Saturday!) - all of which I got - but I certainly haven't had any emails reminding me of credit card expiry (even just checked the spam box to be absolutely sure).

So, either five emails went missing, or they aren't being sent...?

Kyoto,

I will get the guys to take a look at this end, but it may be that they were spammed out before they even reached your E mail box.

Glad to see you are up and running though.

Ian

Martini,

Appreciate you stepping in and I am sure there couldn't be a more fitting way to keep David's memory alive. Thanks.