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FTSE -23

DAX -23

DOW -2

S&P -0.8

Nasdaq -3

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The FTSE 100 index is set to slide after a weak end to last week on Wall Street amid concerns over recent gains. In Asia, Japanese shares fell to two-week lows on Monday. Banks were among the hardest hit so watch out for HSBC & STAN British Airways posted a 57 percent fall in second-quarter profit to105 million pounds which was better than market expectations of 72 million pounds. The company also said Chairman Colin Marshall would retire in July next year and would be succeeded by Martin Broughton, currently chairman of British American Tobacco.Astra Zeneca could rise from results of trials on its experimental anti-coagulant Exanta. Alvis The Ministry of Defence has contacted a handful of contractors about taking over a six-billion-pound programme to supply it with armoured vehicles, in what would be a blow to Alvis Nokia, is considering a takeover of UK firm Psion in a bid to dominate the cellphone software market Barclays bank has held exploratory talks with three banks in the United States for a possible acquisition of Pennsylvania-based Sovereign, New York-based North Fork Bancorporation, and GreenPoint Financial Corp.

Calendar: United Kingdom	United States (GMT)	Europe & World (GMT
British Airways (I), 49m, DCC (I), Uniq (I), Ferraris Group (I),Radstone Technology (I), Renold (I), Carr's Milling Industries (F), Debenhams (AGM)BRC retail sales monitor uly-Sept. residential property report Sept. trade (09:30)	Computer Sciences Q2 MG Technologies Q3	Freenet D Q3 Infineon D Prel. FY KPN NL Q3

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Thanks Melnibone but I have just found out that the 55p divi on RBS is only on the additional shares and not on the ordinary so it has been removed.
Regards
D.

evening all - excellent read as always.

In for an interesting week ahead.

Thanks for that Croc,
that makes a big difference in strategy if RBS hits the support
and holds.

Melnibone.

FTSE PP FOR MON

R2 4428
R1 4403
PP 4363
S1 4338
S2 4288

Close on Fri was above R2 after gaining 3.5pts in the auction!

WEEKLY FTSE PP

R2 4456
R1 4416
PP 4350
S1 4310
S2 4244

For next week I,m looking for a tgt of 4430 in between weekly r1/r2, but ftse looking OB atm, 2 day ftse trendline brk at 4370!





Updated 11/7 for Monday's market.
Key DOW Levels for 11/10
UP Above 9,900
DN Below 9,770

9,900 Holds
Resistance at 9,900 holds, Dow pushes lower.

From prior commentary, "...An upside break through the recent highs at 9,900 will tend to confirm another move higher. If the index cannot rise above 9,900, look for the Dow to form a large trading range at the highs from the lows of 9,770 to 9,900..."
The Dow traded right up to resistance at 9,900 today, but was not able to get a solid break through the level, which ultimately resulted in weakness throughout the session, as seen in the 15 and 60 Minute Charts.

The index reversed off resistance early in the session, but really began to push lower late in the session, as the index traded down toward the lower part of the wide range trading range that has formed from 9,770 to 9,900, seen in the 60 Minute Chart. We look for the Dow to continue to trade within the boundaries of the wide range until a solid break from it occurs. This is a wide range, and could hold for some time.

A downside break at support at 9,770 will likely make for a much deeper retracement, while an upside break through 9,900 will extend the current uptrend.

Short Term Dow

Short term, the Dow has formed a tight range at the lows of the 1 Minute Chart from 9,800 to 9,815. Watch for a break from this range for direction Monday morning.

Medium Term Dow

In the medium term, we closed Longs at the entry this morning due to the Breakeven Rule. No other trades were triggered and we are now out of the market and watching our wide range for breaks, at 9,900 up, and 9,770 down, with 20 point stops in either direction.

NASDAQ & S&P

The NASDAQ and S&P each formed tight ranges for the session before finally breaking down late in the day. Resistance continues to hold for the S&P, while the NASDAQ has now broken back below its resistance level. *

Summary

The Dow held just below key resistance at 9,900 for much of the session until finally trading sharply lower just before the Close. The index has now established a wide trading range from 9,770 to 9,900, which we will watch closely in the coming sessions.

Thanks TP
Moening all

Morning all. Thanks Croc & TP. Croc - FTSE 3500 before April 2004 - wow.

Morning all,

First stop loss (profit) kicked in first thing. (Only one I left in place from Friday, as the bid on the others always drop heavey first thing.) Now going to put the others back in place and would not be surprise if they all kick in today!

Morning all,

FTSE straight down to S1 and now trading in a 10 point band
just above S1 as it decides what to do.

AVZ below S2 and trying to hold the old 400p support.

In case anyone doesn't know, this stock has exposure to the dubious
fund dealing that Spitzer is kicking up about in the States.
There's some red flags been raised in it's fund trading that
will attract Spitzer's interest like blood to a shark.

Melnibone

FTSE now at PP.

Possibility of it trying to fill the gap open to 4376.

Melnibone

mmmmmm yep, it looks like it's filling the gap and heading upwards

I'm going to have to stop using the stop loss. 2 more kicked in, because the price dropped suddenly. Trouble was the went back up just as quickly. I think I'm going to have to restrict them to when I'm not able to watch the prices!

Oh well, not to worry I have quite a bit of cash now. Will wait out to see what else happens!

Gap just about filled.

Players left behind on Friday can now come in to play.

Have to see which way the market wants to go now.

Melnibone

Lost some on an late AVZ short but went reversed on the pullback when the FTSE went up. My HVN up another 3.

Took a look at AVZ after your comment croc -(I know the news was bad on Friday)and decided it was worth buying a few @ just over 4.08. I will keep a close eye on this one and hope to take may profit (?) before market close

Things are getting very interesting. Many shares are going up and down between 2 points (yes I know the support & resistance points). In some cases I've watch the same share hit both points 3 times in as many hours. They don't seem to be breaking either one!

There is something very interesting in the 5 day intraday chart on BFP, worth a look

I agree it does look interesting - but as a person who can only see the obvious, I'm not sure what it means! Any chance you can clarfy it for me?

Just got back after a bit of grocery shopping.

Don't seem to have missed much, seems like it's
justing dancing round the PP maypole.

Not really worth trying to squeeze a few points.
May end up on the wrong side of a decent move.
Coffee time.

Melnibone

Little woman
Big buyer comes into the market at the end of the day

of course silly me!