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

there are several charts of mine pn page 1!

Dont be lazy Cyners, come on lets have a chart in the header, its sooo much easier to see... i keep campaigning for charts in all the headers, but no-one listens...!

Thanks guys forgot about page 1!

as there are 6/8 of them, i felt it easier to post them separately ..... who's being lazy?

Incidentally, although often used as such the RSI is not an overbought / oversold indicator.

Lol...

Evening all haven't bothered today, not liked what I've see..... Here we go we're on the charts are we... When doing indicies, a candlestick with MACD, RSI, Momentum, Volitality, Bandwidth e.g. BB & Stochastic would be the norm for me... Horrible subject so I'm going to sit this one out, after the basics I think everyones different....

My dummy run this evening was short on FTSE at 6002, with 5 minutes to go, on a prediction that the market will be quite heavily in the red come 8.30 tomorrow morning... will have to see...

I think the FTSE will trade sideways finishing 6040, there may be a good range tomorrow to play. I'm not one to bet from first thing 'the volitile open' as I prefer to play a trend or range (if big enough).

I have a short target of 5971 -55 for this morning, but believe the trading band will be narrow for next few hours. As for the afternoon, I haven't a clue.

Tricky one at the mo, 6000 is lending support and dow not really giving much away at mo, not sure we are awaiting any significant data from states later? If i followed my instinct, its only a matter of time before the next batch of horrible news takes the Dow to low 11,000's, but its how high it climbs first...

Eurozone retail at 10 am and USD ISM Non-Manufacturing (JAN) at 3pm seem to be the key events from the forex thread

I don't think 6000 will offer much support, the FTSE is down 29 at moment, the dow futures down 29 and dax 24. If dow and dax track lower, so will the FTSE.

Views on Tesco'S chart would be most wecome, doesn't look very pretty at the moment.

Should find support at 400, looks like a double head and shoulders no consolidation though at higher levels.... Halifax hope you didn't get in too high..!!

Explosive tks for that, I was thinking of a short.

halifax - I noticed tesco chart on 1 year view, the 50ma has just crossed down the 200ma which is also moving down ( dead cross ) a very negative sign, and normallt an ideal time to short. The problem is that many companies have shown this in last few months, with this volatile market. It comes down to where you think the general market is going now.

Good luck........

ps - 398 may offer resistence, a low point end of August..

Spitfire tks I agree if 395 is broken then it could move down fairly quickly to say 360p. I note share buy backs seem to have dried up and the general feeling is that supermarkets will find things tougher in 2008 with the cost of foodstuffs on the rise. I don't think TESCO's US adventure will pay off as it seems poorly timed with the likely downturn in their economy.

Also Tesco's has competition in the US with Wal Mart deciding to take them on head to head. Tesco weren't expecting that.

Surprisingly quiet on here considering todays turn of events, my dummy run would be doing well now... dare say i would have closed it much earlier though...