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

Cracking day today what with AMER, MAGP and BBY long may it continue.
2517

if Davai has got it right, then one-way trip from tomorrow

Possibly a bit higher yet and maybe during tomorrow morning, but i reckon that'll be your lot...

Another 100-150 yet

Time to take some profit tomorrow a.m. then, hopefully before everyone else gets the same idea!!!

Its certainly had a rocket under its arse tonight! Lends more weight to an imminent reversal

aka too far too fast ..... banked a little AAPL profit late this evening with this in mind

Hmmm.

Spain bond auction: Borrowing costs edge up

There was strong demand for Spanish bonds at an auction on Thursday, which was seen as a key test of the country's ability to raise funds, but it had to pay a higher interest rate.

The rate on the 10-year bonds was 6.044%, up from the 5.743% paid when bonds were last sold in April.

Spain sold 2.1bn euros ($2.6bn; £1.7bn) in medium and long-term bonds.

When I looked a few hours ago, DOW futures were -7. Now they are +64. Presumably the spanish bond sale has boosted confidence, temporarily? Perhaps took profit too soon this morning.

The Spanish bond auction I think could be categorised as "not as bad as it could have been". They are still having to pay a lot to borrow money, and it was a relatively small amount raised. The big move IMO has come from China's decision to cut their rates by 25bps.

Looks like the FTSE wants 5535, still have this down as a pullback, but surprised by its strength, higher than 5560 on the FTSE and it changes matters.

Oh crap! So that chart in #8302 is wrong??? Another strategy I was relying on, down the pan! ;o)

Sorry Harry! Projections are all well and good, but perhaps its a tad different for me, i don't trade shares only FX pairs or Indicies. The first thing i look for to give an indicator of trend change is a reflex point to be broken, otherwise its go with the trend. I really did think the Fib level in the chart #8302 was good (for a couple of reasons), but that's the markets for you!
Even the drop this afternoon hasn't taken out any tipping points, (yet!)

I will say that the drop and retrace on the Euro this afternoon does look very much like a 5-3, so we may indeed be about to turn... If so, LL's will soon follow!

short Dow @ 12,538

out @ 12,475

a touch early....

All looks too much to me like nothing more than ABC pullbacks right now...