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US markets recover some lost ground after last week's declines as investors await Tuesday's central bank meeting UBS figures come in 20% above consensus Thus Group telecoms reported a 61% rise in underlying annual earnings slightly below forecasts, and said it was comfortable with market expectations for the current year. Earnings rose to 43.6 million pounds short of analysts expectations of 44.6 million on turnover up 14 percent to 332.4 million pounds.

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Alliance & Leicester (AGM), Cairn Energy (AGM), Cluff Mining (AGM), PetroKazachstan(AGM), Vitec Group (AGM),  08:30 March consumer credit 08:30 March final M4/M4 lending 10:00 CBI monthly distributive trades survey		Aon, Clear Channel Comms, Emerson Electric, Lincoln National, Tenet Healthcare, Northrop Grumman, Safeway, Prudential Financial, Qwest Comms, 13.30 FOMC Meeting 15:00 Factory Orders		Continental, Pfeiffer Vacuum Technology, Suess Microtec, Bouygues,

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David@SnappyTrader.com   www.SnappyTrader.com			Pre Market Futures	FTSE +19	DAX Unch	DOW +10	S&P +0.8	Nasdaq +2.5

Afternoon all

I love the Dilberts explaination of stock investing.

- It'll be interesting to see what happens in the US later as I presume a lot of people will be making decisions on what they are going to do here in the morning from it.

Check out the DAX if you want to see Euro sentiment.

Gapped down at open, moved up to fill gap, and is now indecisive over direction.

Dow futures are up about 40 points.

TUESDAYS FTSE PP

R2 4540
R1 4515
PP 4504
S1 4478
S2 4467

Ftse closed below s1 on Fri and lost 3.5 pts in the auction, dow was 10314 at 4.30! Still in a downtrend unless we brk above 4515 on dow strength closing above 10320!




WEEKLY PP

R2 4618
R1 4554
PP 4523
S1 4459
S2 4428

For next week if the dow cannot close above 10320 cont weakness to 200 again pulling the ftse back to sup at s1 as seen by above chart, always a possibility of a reaction rally to the bottom of the uptrend channel 4560, so hopefully a good 100pt trading range similar to this week!IMHO

FOMC
MPC
NON FARMS ALL NEXT WEEK


DJ

res 320/350/400 up

sup 220 down

POSSIBLE 10200 to 10400 TRADING RANGE!

Updated 5/3 for Tuesday's market.
Key DOW Levels for 5/4
UP Above 10,340
DN Below 10,220

Range Bound
Dow moves higher within clear trading range, watch for a breakout.

From prior commentary, "...The index ended the day lower, but continues to hold with a wider range from 10,200 to 10,350. Look for volatility within this range until a solid break occurs..."
The Dow trended slowly, but steadily higher within the wide trading range today, gaining 88 points for the session. Looking at the 15 Minute Chart shows that the trading range has formed at the lows of the recent decline and spans from 10,220 to 10,340.

Typically, a range at the lows implies another push lower within the current decline. A downside break could spark such a decline, which would be roughly equal to the prior week's downmove. Therefore, we will watch 10,220 very closely tomorrow, as such should provide a lucrative decline.

However, the Daily and 60 Minute Charts each show that the consolidation is forming above the key lower trend line of the wide, downward-sloping trading range. A consolidation in this spot can typically fuel an upside break and a sharp advance, therefore, 10,340 will be key as well.

The point is, watch for further sideways movement within the range until a clear and solid break occurs. Such a break should yield a swift and powerful move.

Short Term Dow

Short term, the Dow ended the day breaking a short term upper trend line at 10,300, seen in the 5 Minute Chart. This break could lead to a continuation higher toward the next resistance level at 10,340.

Medium Term Dow

In the medium term, we are still out of the market, since none of the entry levels were triggered. We will continue to watch the trading range boundaries for action; 10,340 up, and 10,220 down, with 20 point stops.

NASDAQ & S&P

The NASDAQ and S&P each pushed slowly higher today within their respective trading range boundaries. Look for continued sideways movement within the range, until a clear and solid break occurs. *

Summary

The Dow pushed slowly higher throughout the session today, but stayed within the overall trading range boundaries from 10,220 to 10,340. Look for the Dow to continue trading within this range, while momentum builds. A solid move is likely to occur upon a break from this range.

15

Due to trading other markets and other things taking up my time at present i will be only posting the above info occasionally , a sigh of relief i hear:) All the best to everyone in their trading!

Thanks TP & sorry to hear that :-(
Morning all
D.

Morning all

Morning all. Have appreciated your posts TP! Good luck.

Thanks too lw for you comments on stop losses. I will stay with my AIM shares though as they are only a small proportion of my portfolio and they have served me well over the past couple of years (paid school fees, so can't complain!). I factor in the possibility of "wipe out" and balance that with other investments. Just have to consolidate a bit I think. It is really useful to see how others approach things - thanks!

Look forward to your future occasional posts, TP.

Nice to see other stuff is taking up more of your time.
Folk sometimes get so wrapped up in the markets and money
in general, that they neglect 'living' and get obsessed
with trading.

You'll probably find that you make more money now with a relaxed
attitude as you go with the bigger moves and ignore the day to day
market noise and minor bouncing around.
That's why I like swing trading.

Good luck in whatever you are doing.

Melnibone.

Because we made a higher swing high when we went to 4600, the swing
chart is telling me to look for a swing low to go long.
To do this, today, we need to break above Friday's high of circa 4529.
This will depend, as TP rightly said, on the DOW breaking upwards
out of the trading range.
This in turn will depend on the DOW's reaction to the FED.

If the US doesn't go positive then we look for a lower swing low than
we are presently at.

Unless the Nas100 turns round and starts getting back above 1500, then
that index is the opposite to the FTSE in that it has made a lower
swing high and we should be looking to short after a retracement
higher as long as it doesn't break the last swing high.
For the Fundamentalists, the S@P and DOW can still go higher
if the NAS drops as folk rotate out of Tech into other stocks.

All to play for this week and depends on the FED and the monthly
US jobs data.

Melnibone.

ANL down to under 410p this AM and up to 490 or so as well
during today! What a roller coaster plus a director has bought
more shares it seems and everyone is still refusing to say
if a take-over is on the cards or not - who says banks are boring!!
I'm going to hold on tight to my few shares with fingers crossed!!