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

I forgot that this was a holiday...

ftse
momentum below 5600 was a bail out signal - have been shut out accordingly

dow
arguably nothing to worry about so long as no momentum below 12700 (currently 12915)

Looking a bit grim for the Eurozone this week, but not sure that the Americans are going to register the Hollande victory in France as much of a big deal. Surely Hollande has to comply with ECB/IMF directives if he wants France to stay in the €, so I wouldn't be surprised if he has to heavily dilute his election promises. Once Angela gets her teeth into him............(as written in the french press this morning)...."La lune de miel politique de M. Hollande ne durera pas longtemps."

"Et la patisserie ?....vous aimez la patisserie ?".....

Sure do, rf, but have to stay fit & trim for squash, so rarely indulge, sadly!
DOW futures now -62, having been much worse earlier this morning, so hopefully they will not upset the boat today.

Well, i didn't get the exact top right, but the HH (as an irregular B wave) before down was good;

Davai - 27 Apr 2012 19:52 - 8093 of 8126 edit this post

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;



I also maintain, that despite some vicious pullbacks, we have a fair bit lower to go yet...

cynic DOW not disastrously down so far , is this a storm in a teacup?

what ho hali ..... i really don't know; was certainly expecting the worst but seriously glad i didn't back that with cash! ...... i think the french election result was a foregone conclusion and thus (seemingly) priced in, but greece is now a serious mess and very much highlighted as such ..... i cannot believe that greece will not now be allowed to sink, but i don't pretend to understand the implications of that, either real or market-psychologicially

I hate the expression but - 'factored in' springs to mind!

.

as always, you think you've ducked low enough only to be flattened by that overhanging branch

big recovery on dow but still finished -75 or thereabouts .... caution must surely be the byword

.

Today's market!

Stocks beginning to look more attractive now, some decent divi payers amongst them, may well go lower but they do not look so overpriced.
2517

DOW
i note that there was a fairly important support at 12740 ..... at one point, the index touched 12744 (near enough) and has recovered about 120 points since

merely an observation

Not a terribly enjoyable day all round - I have a few shorts but not enough it would seem.

As an aside, I have the DOW intraday (so far) low @12,748.78.

cynic - 09 May 2012 16:54 - 8137 of 8138

Correct with support. Look how the market has reacted to the Fib lines. These are drawn from calculating the length of the previous 'A' wave and reproducing them from the top of 'B'. Deadly!

gann guru pointed me in that direction,so not my own observation - far too complicated for me; i'm just a decrepit old fart

Italian Industrial Production m/m 0.5% v consensus 0.0% previous -0.7%

Eyes down for 9:30.