rather than pick out individual stocks to trade, it can often be worthwhile to trade the indices themselves, especially in times of high volatility.

for those so inclined, i attach below charts for FTSE and FTSE 250, though one might equally be tempted to trade Dow or S&P, which is significantly broader in its coverage, or even NASDAQ

for ease of reading, i have attached 1 year and 3 month charts in each instance

EUR German Ifo Business Climate 109.9 v consensus 109.6 previous 109.8

GBP Retail Sales m/m 1.8% v consensus 0.4% previous -0.8%

Looks like both indices have ended their upward trend.

Are you short HC? FTSE has a very different pattern to the Dow...

Who is the dog?

I favour a lot more upside yet, for the rest of the year, but not until after another reasonable corrective leg down...

AAPL
looks as though Luck Alphonse here has undeservedly got out of jail following last night results - sp +$43 (7.75%) after hours means there'll be some bears with 3rd degree burns

So maybe back to the recent highs.

i wouldn't be at all surprised to see bears fighting for the lifeboats this morning which could see sp a fair bit more above the after-hours price of $603

GB Prelim GDP q/q -0.2% v consensus 0.1% previous -0.3%

USD Pending Home Sales m/m 4.1% v consensus 1.2% previous 0.4%

ftse long is quite a good bet at these levels

Posted this earlier Rich;

Is only an opinion, but have just got a primary reversal signal. Lets see if it carries through tomorrow, but i was looking for a reversal tonight and think we may have quite a way to go (sub 12,700 Dow) to complete a wave 'C' of current correction;



Dax also at resistance;

A higher high (Dow) this morning invalidates the current set-up, so; as you were (for the moment!)

my guru chappy who is pretty good on these things reckons
DOW - stay neutral until impetus break above 13265 or fall to 12189
FTSE - stay long with target of 6491 but stop at impetus fall below 5600

Well its a bit complex to explain why, but i have a set-up for both directions occuring right now, so need the market to show its hand and present me a bit more evidence yet. Will post a chart as and when it occurs, but for starters, (as above), this yielded in excess of 100 points by the morning!

Just a couple of ideas;



In closer detail, i believe we are currently in an irregular wave 'B' corrective;

my chap runs on GANN theory, which i think is a fairly sophisticated form of % movements basis

many of these systems have followers with trades that are then computer-generated which is of course why they are regularly self-fulfilling

I guess i had better duplicate my update on here!

This is a possibility and certainly gives into next week for more gains, but i still keep my downside bias once a couple of levels are reached. Just a plan for now, but here's the charts; (i hope they are self explanatory!)

The Dow;



The Dax;

Amazon's quarterly report seems to have gone down rather well. +15.8%