S&P Futures Nikkei -463 Hang Seng -75
7:30am Futures FTSE -16 Techmark -4 DAX -20 Dow -56 S&P -5.4 Nasdaq -8.5
News Headlines: The YEN soars as the government allows more flexible exchange rates leading to fears for exporters. This caused the near 4.5% fall on the Nikkei. Collins Stewart Tullet stockbroker reported a big rise in half-year profits with its results boosted by a strong contribution from its newly acquired inter-dealer broker Tullet Liberty. The company, which is currently embroiled in a legal wrangle with a former employee, said profits in the six months to June 30, 2003, rose to 29 million pounds from 11.9 million in the same period last year. Daily Mail & General Trust said display advertising revenues at its national titles fell 3.5 percent in the 11 months to end August, but the decline slowed in July and August. "Those businesses within the group that are most dependent on advertising have continued to experience challenging trading conditions" EMI says it is in non-exclusive talks with media giant AOL Time Warner about a deal involving the U.S. firm's recorded music business. United Kingdom Calendar (F)inals (I)nterim  United States  (GMT) Europe & World (GMT) Mon 22nd Sep Reporting Company Updates Financial Data Canary Wharf (F), Collins Stewart (I), Emblaze (I), Gresham Computing (I), Peter Hambro Mining (I), Ricardo (F) Daily Mail & General Trust Trading Statement Unilever Trading Update       Good Trading!      david@FTSEDOW.com     www.FTSEDOW.com Pivot Calculator

DOW AT OUR CLOSE 9638/ S & P 1034

MON FTSE PP

R2 4350.4
R1 4303.7
PP 4274.2
S1 4227.5
S2 4198

Close on Fri was below S2 even after gaining 11 (ish) points in the auction!

WEEKLY FTSE PP

R2 4367
R1 4312
PP 4275
S1 4220
S2 4183

Close was below last weeks weekly pp after hitting my tgt of r2 at 4325! Next week harder to call especially as I write this before US ops exp, but my target for next week is R1/R2! Ftse divergence has increased by 1.2% since the start of the week so may be loosing heart in this rally and the top ftm may well be in, we have closed on the lower uptrend channel and just above my long term sell sig line at 52 but well below my sell sig line on the 60 min chart, Fri sell off due to usual profit taking before the weekend, +11 points in the auction tells a story, Monday the most bullish day of the week remember! TGT for DJ 9770/850=ftse 4320/50. will no doubt see some profit taking next week, the extent of which we will have to see,would not be bullish to stay below 4230 for too long, as long as we get more action than this week!

All imho

Updated 9/19 for Monday's market.
Key DOW Levels for 9/22
UP Above 9,655
DN Below 9,600

Still Above 9,600
Dow pulls back off highs, but still holding above 9,600 resistance.

From prior commentary, "...The Dow continues to rally out of the large consolidation, but is now approaching its target at 9,770. Look for further strength above key resistance at 9,600 tomorrow..."
The Dow pulled back off yesterday's highs today, but continues to hold above the key 9,600 resistance level, seen in the 15 and 60 Minute Charts. The index will likely remain strong above this level in the medium term, thereby aiding in its upward push toward the consolidation target of 9,770 (as calculated in yesterday's commentary).

The Dow continues to push higher within the boundaries of a tight, upward-sloping channel, seen in the 15 Min Chart. Watch for further upside movement within the channel until the lower boundary of it is broken. A downside break from the range at 9,600 will indicate a likely retracement. Such a break will cause a move back down toward the major lower trend line that has formed beneath the lows of the Daily Chart.

Short Term Dow

Short term, the Dow has formed a clear short term support level at 9,610, seen in the 5 Minute Chart. Use this level as a fulcrum for Monday's Open.

Medium Term Dow

In the medium term, we are still Long from 9,512 and will continue to hold stops at 9,600 for tomorrow's market. We will stay Long above 9,655 and look for Shorts below 9,600, with 10 point stops.

NASDAQ & S&P

The NASDAQ and S&P each pulled back off yesterday's highs, resulting in a down day. However, each index continues to trend higher within clear channels. Watch the channels closely Monday. *

Summary

The Dow got a slight pull-back off yesterday's today, but continues to trend higher within the overall uptrend. Look for further strength if the index can continue to hold above 9,600. Otherwise, a break below 9,600 will signal weakness.

Morning all, big falls ahead I feel today. -50 points on the FTSE ?

Look for a big fall on HSBC

Morning all,

I'm not going to be around much for the next 3 weeks (very little access to the internet - non on some days!)

LOL - Jamaican Prime minster wants Jamaica to become a republic by 2007!!! Funniest thing I've heard in years!!! Didn't they get Independance in 1962?

Well we hit the -50
Where to from here I wonder!