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Interims AWI : Award International Holdings GHH : Gooch & Housego FinalsAAT : AEA Technology MCKS : McKay Securities AGM / EGM ALY : Ashley (Laura) Hldgs SER : Sefton Resources SLNG : Slingsby(H.C) TBK : Ted Baker WBY : Westbury Trading Statement AL. : Alliance & LeicesterEconomic UK May retail sales (0930 BST)		Company Actuant (ATU)  ADE Corp. (ADEX)  Adobe Systems Inc (ADBE)  American Healthways Inc (AMHC)  Bed, Bath & Beyond (BBBY)  CarMax Inc (KMX)  Clarcor Inc (CLC)  Entegris Inc. (ENTG)  Meade Instruments Corp. (MEAD)  Nevada Gold & Casino Inc. (UWN)  Norstan Inc. (NRRD)  Saba Software Inc (SABA)  Smucker (J.M.) Co., The Cl. A (SJM)  SOLECTRON CORP (SLR)  Spectrum Control Inc. (SPEC)  TIBCO (TIBX)  Winnebago Industries Inc. (WGO)Economic 1:30 BST Initial Claims 06-Dec Exp 340K Prev 352K 13:00 BST Leading Indicators May Exp 0.4% Prev 0.1% 15:00 BST Philadelphia Fed Jun Exp 25.5 Prev 23.8		Economic

THU FTSE PP

R2 4538
R1 4515
PP 4485
S1 4461
S2 4431

Ftse closed above R2 on weds and gained 3.4pts in the auction, dow was 10362 at our close, ftse still in an uptrend off Tue low if we stay above the pivot at 85, bullish above but bearish on the break of the pivot, dow need to close above 10380 for signs of strength imho!

Updated 6/16 for Thursday's market.
Key DOW Levels for 6/17
UP Above 10,435
DN Below 10,360

Sideways Day
Dow trades sideways, ends session flat.

From prior commentary, "...The index held on to a 46 point gain, but may now be forming a large range at the highs from 10,300 to 10,430, seen in the 60 Minute Chart. Look for the index to trade within the boundaries of this range before another major medium term move is seen..."
The Dow traded strictly sideways today, as the index held within a very tight range throughout the session, seen in the 15 Minute Chart. The index ended the day lower by less than one point and is currently holding within the boundaries of the wide trading range that is forming from 10,300 to 10,430, seen in the 60 Minute Chart.

As we mentioned yesterday, the Dow will likely continue trading sideways within this range until clear and decisive direction is seen. A downside push through 10,360 will likely cause a test of support at 10,300, while an upside move through 10,400 will make for a rise toward resistance at 10,430. Watch the wider range for major activity tomorrow.

Short Term Dow

Short term, the Dow has formed an upward-sloping consolidation at the lows of the 5 Minute Chart. A downside break is likely tomorrow morning, so we will watch 10,370 closely. A break here will indicate 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 crossed. We will watch 10,435 up, and 10,360 down tomorrow; using 20 point stops.

NASDAQ & S&P

The S&P and NASDAQ each traded sideways today, forming clear ranges to watch for tomorrow's market. A break from the ranges will likely spark direction tomorrow. *

Summary

The Dow ended the day flat today, as the index traded sideways in slow fashion. Look for the index to continue trading sideways within the boundaries of the wider trading range. A break from the range will likely lead to key direction tomorrow.

daily

morning ftse set to open down.MKS looks like this may fizzle out now,cant see green offering 400p which may see it back on track.

Morning all

Mornin all

mornin all

Morning all.

Yet another day of low volume messing about?
Looked round a few share volumes this morning.

STAN, 85,000.
GSK, 997,000.

Thursday is normally the biggest day of the week.
By 0815 we've normally traded 120 Million+ shares.
Bloomberg were reporting 16 Million if I recall correctly.

Options expiry tomorrow. I believe the market calls
it Triple Witching, or some other such emotive description that
it is fond of using to spice matters up.

So may get a pick up and some volatility before the weeks close.

Still stuck in the same old ranges. But who cares when England are
going to wade through all that melting Swiss chocolate in Portugal's
heat this evening.:-))

Melnibone.

I dare say half the traders are at ladies day at Ascot and the other half are waiting for the football - likely to be a very quiet day imho

copy of Tom Hougards email.

Good morning,



It really does smell of manipulation. When is the last time you saw the Dow have a range of 38 points? The average range over the last 4 years has been near 120 points.



It stinks of manipulation.



The market is going nowhere but we are still above the crucial 1132. As long as this holds the bulls are in control and the bias is for higher prices. There is no real discernable trend and no real patterns to go by. At the moment it is much easier to day trade. I had, as you know, yesterday as a strong DOWN day. Instead I got a flattish day with a tiny range. A break of yesterdays lows should see more downside but I really have not got that in the chart until Friday. As a matter of fact I am beginning to think that as long as the SP500 September contract is holding above 1132 we could see another attempt to push up towards 1143. I got Friday as a very weak day with lower prices.



For now I would be cautious trading this market. I am not bullish here but I would prefer to short the SP500 on weakness below 1132 and preferably below 1128.



The NASDAQ looks like the weakest link and I do subscribe to a system which I have no idea how it works (actually it was my boss who wanted it J ). Anyway this system went short the QQQ, which is the tracker stock for the NASDAQ 100, yesterday. I have not really followed because I dont like to follow systems that I have no idea how works. For all I know they could be flipping a coin.



The DAX cash chart looks like it is ready for a correction. There may be another push higher today towards the 4040 area. A move below 3990 should initiate more downside. A break of 3933 is confirmation of the downside.



I am attending a seminar tomorrow so there will be no analysis.



Have a nice weekend and be careful in this market. The market can explode higher on this manipulation.



Tom

Morning all! More churn churn. nice results from GHH, doubling profits, recovery story underway, real good value. I don't hold but considering.

After two seconds and a winner (Mine 16/1) from four picks, hoping for another good day today and my main fancy, Estates Dilemma (20s) plus Privy Seal, Sasoof and Settlement Craic make up each way lucky 15 all nice prices. Win or lose will be 'talent-spotting'!!

In the other two races i expect Papineau and Blue Dakota to go well.