Gold
	S&P &Futures (Click for latest)	Pre Market Futures (7:30)
		FTSE	-1
		TechMark	-1
		DAX	-17
Hang Seng +36	Nikkei -81	DOW	-17
		S&P	-2
		Nasdaq	-2

 

News Headlines:    U.S:  stocks managed to make gains with the Nasdaq reaching another 16-month high, as some buyers chose to enter the market on the back of better economic reports. U.K: The FTSE 100 is set to open flat to slightly lower following a mixed Far East performance and negative U.S futures. British retail sales fell by less than expected in July suggesting that consumer demand is still holding up well. WPP: the world's third-largest advertising company said North American markets had not only stabilised but had started to show growth again, although the UK market was still depressed. The company said its pre-tax profit was down almost five percent to 202.9 million pounds which was at the middle of market expectations.Scottish & Newcastle plans to whittle down bidders in the 2.3 billion pound sale of its pubs business after a bid deadline on Friday, sources said. They said S&N is expected to select two or three parties to go through to a final round of bidding, and plans to complete the sale in the autumn.Shell will wait for a new, "real" Iraqi government to take over before considering any oil activities there, Oil stocks could be supported after crude prices surged nearly three percent on Thursday following a gasoline supply shortage in the United States. Bespak Plc British drug delivery systems maker said it had ended takeover talks having examined their initial proposalsGame Group said second-quarter profits were boosted by sales of high-margin new and pre-owned entertainment software. Calendar All GMT United Kingdom (F)inals (I)nterim United States (Click Flag) Europe & World Fri 22nd WPP (I) PBT 184m exp. Keller Group (I) PBT 32.4m exp.09.30 Q2 GDP q/q 0.3% exp.   10.00 June Current Account NSA Good Trading!   David@FTSEDOW.com    www.FTSEDOW.com            Pivot Calculator

FRIDAY FTSE PP

R2 4263.5
R1 4243.5
PP 4230.4
s1 4210.4
s2 4197.3

Lost 2.7pts in the auction to close just above Thu pp, failure at the top of the uptrend channel at 4250 level to watch! Dow jones at our close was just above its pp, S&p currently trading below the magical 1004 atm limiting the upside, still some left imho

Updated 8/21 for Friday's market.
Key DOW Levels for 8/22
UP Above 9,450
DN Below 9,400

Still Trending
Dow continues uptrend within major channel.

From prior commentary, "...the index has formed a large consolidation at the highs of the current two-week uptrend. The fact that the this pattern has formed at the highs would normally be indicative of an upside break..."
The Dow got a powerful upside break from the consolidation this morning, but the major upmove later fizzled, thus leading to a slow uptrend within the major channel, as seen in the 15 and 60 Minute Charts.

The index continues to trend higher within a well-developed and disciplined channel, as seen in the 60 Minute Chart. The Dow has steadily risen within the channel for over two weeks now and continues to remain at the relative highs.
Also, the index continues to hold above the upper boundary of the wide trading range, seen in the Daily Chart, which continues to indicate strength. An upside break through 9,450 will likely push the Dow higher.

However, we will continue to watch the lower boundary of the channel, as a downside break of it will likely push the index for a well overdue retracement. Watch 9,400 down for the break.

Short Term Dow

Short term, the Dow ended the day within a the boundaries of a tight range from 9,400 to 9,450, seen in the 5 Minute Chart. Watch for a break from this range to gauge momentum tomorrow morning.

Medium Term Dow

The Dow nearly triggered Long this morning, but did not cross our entry line. Therefore, we are still out of the market and will watch 9,400 down, and 9,450 up, with 10 point stops.

NASDAQ & S&P

The NASDAQ continued its upward push again today, while the S&P basically ended the day where it began. Watch the lower trend lines for both indices tomorrow. *

Summary

The Dow continues trending higher within the well-defined channel, seen in the 60 Minute Charts. Look for similar activity until the lower line is violated. Watch 9,450 up, and 9,400 down tomorrow.

Morning all

Morning all. Thanks Croc & TP.

Morning Croc
Great thread much appreciated crock.....just signed up

Welcome WhiteSox

Morning all

- I want trade today, but think it's going to be too quiet to do anything!

raptor
For Friday, the rally appears to be in the terminal stages of the advance and is complete or near complete. The index my or may not have any additional upside left. A break below the rising trend line near 1000 is confirmation of the top and a pullback is then favored to be in process. Resistance above is near 1010 and then 1015. Support below 1000 is near 992 and then 980.

gone VOD long

Also long BB. (ex. div 27/08 of 5.5p)

TUE FTSE PP

R2 4281
R1 4253.4
PP 4237.7
S1 4216.1
S2 4194.4

Close below Fri pp after loosing 2.8pts in the auction, earlier spike out of the trading channel but closing within the channel! Dj at our close around its pp! Looking at the 5 day chart ususal up start and midweek dip for buying ops!



WEEKLY FTSE PP

R2 4326.6
R1 4276.2
PP 4236.6
S1 4186.2
S2 4146.6

Have a good weekend!