Gold
	S&P &Futures (Click for latest)	Pre Market Futures (7:30)
		FTSE	-31
		TechMark	-6
		DAX	-43
Hang Seng -156	Nikkei -58	DOW	+21
		S&P	+2.1
		Nasdaq	+4

 

News Headlines:    US stocks fell sharply on worries after a weak job market report. This was followed by a big 7% after hours sell off in Cisco shares by traders not to pleased by the numbers Alstom CEO had to consider bankruptcy last week.  Bayer chemicals bring out worse figures than expected and predict no rise in demand. Watch ICI for a reaction. Standard Chartered report later on this morning but the interims may show the effects of Sars in the Far East due to its strong presence in the region. Its is bravely trying to get a foothold into emerging markets such as Afghanistan. Analysts predicts profits to increase approx 8% Alfred McAlpine said it had been named as the preferred bidder for a public health project worth 170 million pounds Spirent telecoms equipment testing firm said it did not expect any improvement in the telecoms market for the rest of the year. They, reported profit before tax, exceptional items and goodwill of 12.8 million pounds less than half the 31.4 million for the year before Rotork engineering posted a rise in first-half profits up 8.6 percent to 13.9 million pounds and said its order book was up 11 percent from the end of 2002. But year growth would depend on second-half performance in the United States. Calendar All GMT United Kingdom (F)inals (I)nterim United States (Click Flag) Europe & World Wed 6th         Ex Dividend Standard Chartered (I) PBT 486m exp. Rotork (I), Spirent (I), Galen Holdings (Q3)10.30 NTC, Deloitte & REC Report on Jobs Europe: Polo Ralph Lauren (Q2), AON (Q2), Bayer (Q2), Comerzbank (Q2), Total SA (I) 11.00  Q1 Final GDP q/q 0.1% exp. : 11.00  June Preliminary German Factory Orders Allied Irish Bank (EUR 0.19), BG Group (1.6), BT Group (4.25), Berkeley Group (14.4), Blick (5), British American Tobacco (11.8), Crest Nicholson (3.5), Dominos Pizza (1.32), European Motor Holdings (4.3), Fenner (1.975), ISIS Asset Management (4),Lawrence Plc (3.95), Northgate (11.1), Pearson (9.4), RAC (9.7), Robert Wiseman (4.1), SSL International (8.4), St Jamess Place (1.25), WS Atkins (3) Good Trading!   David@FTSEDOW.com    www.FTSEDOW.com            Pivot Calculator

WED FTSE PP

R2 4154.2
R1 4137.6
PP 4114.3
S1 4097.7
S2 4074.4

Close above Tue pp after gaining 2.8pts in the auction, close still below weekly pp. 4117 FIB held to open up the next FIB level at 4161, Dj at our close was below its PP, same scenario as yesterday,

Updated 8/5 for Wednesday's market.
Key DOW Levels for 8/6
UP Above 9,150
DN Below 9,000

Downmove
Dow breaks lower trend line, trends lower to the Close.

From prior commentary, "...a downside break of a short term lower trend line at 9,150 could lead to another push lower within the wide range, toward about the 9,000 area..."
The Dow broke below 9,150 early in the session, which ultimately led to a push lower throughout the day, as seen in the 15 Minute Chart. The downmove also caused a solid downside break of the major lower trend line that has stayed in tact since April, seen in the Daily Chart.

The break of this major line may be the beginning of a larger retracement for this index, especially if the Dow breaks below 9,000 tomorrow.

We have seen the Dow fake a break from the current wide trading range in the past, therefore, we could see a move higher back into the range tomorrow. An upside break through the upper trend line at 9,150, seen in the 15 Minute Chart, could indicate strength tomorrow. However, this is not likely.

Short Term Dow

Short term, the Dow has formed a clear trend line above the highs of the late-day sell-off, seen in the 1 Minute Chart. An upside break through the line at 9,045 will indicate strength at the Open. Otherwise, look for further weakness below the line.

Medium Term Dow

In the medium term, we are still out of the market, as none of our entry levels were triggered. We will watch 9,000 down, and 9,150 up tomorrow, with 10 point stops.

NASDAQ & S&P

The NASDAQ sold off more heavily than did the S&P and Dow today, as the index pushed lower throughout the session. The S&P also declined sharply, getting a downside break from the wide range in the process. Look for further weakness tomorrow. *

Summary

The Dow showed weakness early in the session, but it was the late-day sell-off that really pushed the index into a triple-digit decline. The index has now gotten a solid break of the major lower trend line, which indicates a further decline in the medium term. Watch 9,000 down, and 9,150 up tomorrow.

Morning all, US futures up to soften this mornings fall in the UK

Morning Croc

Morning Croc, PB & all. Another down day perhaps ????

D2 the gap down and ususal buy the dip but how aggressive do they sell the bounce? is the key today!

Morning croc & all.

Another day to watch! (I seem to be doing a lot of this of lately!)

THU FTSE PP

R2 4154.8
R1 4112.6
PP 4078.7
S1 4036.5
S2 4002.6

Close below Wed s2 and on weekly s1 after gaining 2.4 pts in the auction, now in the FIB trading range of 4054/4085, uptrend broken ftm, needs to regain 4100 at least imho! Dj below pp at our close, will no doubt rally (cynic) now!

Just looked in at 7.28 DOW up to 9127 and moving up fast. !!!