Premarket Futures 20th Oct

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DAX +-

DOW +-

S&P +-

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David@FTSEDOW.com     www.FTSEDOW.com

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MON FTSE PP

R2 4371
R1 4357
PP 4346
S1 4332
S2 4321

WEEKLY FTSE PP

R2 4433
R1 4389
PP 4349
S1 4305
S2 4265

FTSE FIBS

4320
4275
4238
4200


Fri close was just under the pp after gaining 9.5pts in the auction, close was also on weekly R1! Towards the end of the week the ftse has started to show some weakness after the midweek high, closed below my 60 min sig line yesterday at 360 and has done so again today, US has also sold good figs this afternoon! Personally exp a clearer picture to emerge after the ops exp In US tonight, a close under 9700 clearly breaking the uptrend may signal the turn imho. Rsi on ftse and Dow overbought, over the next few weeks looking to 9200 being tested on the dow, up from a revised 9000 I had a few weeks ago and then for the uptrend to continue into year end! All imho!

Updated 10/17 for Monday's market.
Key DOW Levels for 10/20
UP Above 9,760
DN Below 9,700

Downside Break
Dow breaks major lower trend line, trends lower to Close.

From prior commentary, "...The index has moved sideways the past four sessions, which suggests that the uptrend may be coming to an end. Watch the lower trend line at 9,725 for a downside break..."
The Dow got the downside break of the major lower trend line today and trended lower throughout the session, shedding 70 points by the Close, seen in both the 15 and 60 Minute Charts. The break of the line indicates that a change in trend will likely occur, or at the very least, that the current uptrend will cease and trade sideways until direction is established.

The Dow held at 9,700 today and even pushed slightly higher off this level late in the session. A downside break below this level Monday will likely spark an even bigger sell-off as implied by the Daily Chart. The Dow looks to be beginning to move lower off the clear upper boundary of the wide range. A break below 9,700 could spark another big push lower within the channel.

However, if the Dow can continue to hold above 9,700, it should base at the highs until a break from the wide range occurs. An upside break through 9,760 could spark another push higher within the range. In other words, today's decline is most likely the start of a sell-off, but it could also be the start of a wide consolidation at the highs of the prior rally. We need a few days of action in here to find out which way it is going to play out. A break through 9,700 would pretty much confirm the sell-off theory.

Short Term Dow

Short term, the Dow has formed a tight range from 9,713 to 9,728, seen in the 1 Minute Chart. Watch this range for a break to gauge direction at the Open Monday.

Medium Term Dow

In the medium term, we entered the market Short today at 9,725 and are still in the position. We will continue to hold 10 point stops for the position and will stay Short below 9,700. Look for Longs above 9,760.

NASDAQ & S&P

The NASDAQ and S&P each got downside breaks from their respective channels today, which push the indexes lower. Watch for a continuation pattern to indicate further weakness. *

Summary

The Dow finally got a solid break of the lower trend line that has formed beneath the lows of the last couple of weeks. The downside break indicates further downside movement in the medium term, but we must see a break below 9,700 first.

Morning all, LGEN looking good for a long and ICI a sell

Reversed LGEN now short & Short ICI
Very slow out there

Worse than slow - I may have to go out for a run later unless something happens soon!

Short Hilton -long CWG-

experimenting long sage for a minor bounce back..

Buy bot in ICI damm!

Hi juless99

How are you finding CFD's?

Things suddenly happened very fast! About 1110 BB. & LLOY (both banks) shot up and then shot back down a couple of points! AT kicking in........

Well there's no danger of missing soemthing important happening whilst you're out making a cup of tea today is there! Watching drying paint springs to mind...going to have some lunch and hopefully some real movement will occur this PM. Lloyds and HBOS and Scot & New all rising but not much else to write home about. Enjoy your lunch people.

Has anyone ever purchased stuff from the lastminute.com site?

I have now 3 times over the last 3 years and won't ever do so again! The first item I purchased (tickets) they charged me twice. The second (item purchased at auction) was delivered to the wrong address (no signature) lucky I have honest people living in the same road! And the third was never delivered, and now I'm bored of recieving the "I am waiting for a reply from the suppliers and I will contact you shortly" e-mail they keep sending each time a query progress (we are now 3 month on!). So yet again I'm going to have to send all the correspondence to my credit card company and claim a refund......

Afternoon all. Have limit Longs on BARC between 519 & 510.

Ahhhh!

Help! Anyone out there a previous Nothing Ventured user? They've sold out to Fastrade and we've all been moved over to that site.

What a mess - this Fastrade site is crap. I'm so pissed off I can hardly type this message. NV was such a brilliant trading tool and now we've got this. What the hell are they playing at. Couldn't those numbskulls at Charles Stanley see that the NV site was much superior to there own and use that instead and just stick their Fastrade badge onto it.

Any ex-NV users please let me know what your thoughts are today.

I have started a new thread to discuss the NV/Fastrade issue.

Please post your comments there as I intend to email them all to Fastrade to let them know how dissatisfied we are. This is the link:

http://www.moneyam.com/InvestorsRoom/ShowPostList?fID=1&tID=1430


or search under the epic code of NV.

The title of the thread is Nothing Ventured vs Fastrade.

Many thanks.

Guy

I'm getting a little bit fustrated at the moment. I want to buy some BT.A but the price just won't drop quite enough............ may set a limit buy and cross fingers...

little woman - Hope you got your BT.A - I find that placing limits can be better than looking at the screen. I had a limit buy on BARC at 514 which was triggered. When the price moved high enough for me to place a stop at evens did an OCO with stop at 514 and 519. Did a few things around the house and came back to find that the 519 had been triggered giving me 5 points. (Only a small stake though). Had I been watching the screen I may have closed for less. Does not work all the time.

Yes I got my price. I have always done better with limits. But it takes so much homework and it means missing the fun of choosing the moment so don't do it as often as I should!

Druid2, have you seen what ETL has done! Well it looks like I read that one completely wrong! (News seems to have gone quiet, so maybe it's over now?)

Some new 1 2 5 toys on the header for you to test out
D.

little woman - Yes ETL must have surprised a lot- up 10p (20% approx.) in 4 days !!! I'm still looking for the chance to top up my holding (into a nice round figure) when the price is much lower.