Premarket Futures 28th Oct

FTSE +15

DAX +5

DOW +16

S&P +1.8

Nasdaq +4.5

1 Day 2 Day 5 Day - UK News	FTSE 250	FTSE Small Cap	FTSE TechMark
1 Day 2 Day 5 Day  Futures  US News	Nasdaq 100	S&P 500	S&P Futures
DAX / CAC    Europe News	Nikkei +106   Hang Seng +294  Asia News	10 Year Bond
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News:	Sorry Your browser is not java capable
U.S. stocks rose on the back of more than $65 billion in merger deals at the start of a week heavy on earnings news and economic reports. Leeds United's annual losses have almost doubled to 49.5 million pounds.British American Tobacco shares are seen rising more than 4% after its deal to combine its U.S. tobacco business with that of R.J. Reynolds Tobacco. Profit fell 20 percent to 1.293 billion pounds in the nine months to end-September. Westbury housebuilder said half-year profits rose by 35 percent, and added that fundamentals in the industry were unchanged with demand for new homes continuing to outstrip supply. It earned 47.6 million pounds in the period ended August 31. That compares with 35.2 million pounds posted the year before WPP the world's third-largest advertising agency, said its revenues climbed more than one percent, and said prospects for 2004 "remain better." BP will probably report oil prices up over 30% on higher prices. Friends Provident life assurer reported a 14 percent rise in nine-month sales and said it was confident of increasing market share this year. Sales were at 313 million pounds against an analysts forecast of between 293-305 pounds

Calendar: United Kingdom	United States (GMT)	Europe & World (GMT
BP (Q3) PBT $3bn exp. British American Tobacco (Q3) PBT 689m exp. Whitbread (H1) PBT 120-125m exp. Friends Provident (Q3), Westbury (H1), WPP (Q3)	Lockheed Martin, King Pharm., Verizon 13:30 Sep durable goods 1.0% exp. 15:00 Oct consumer confidence 79.1 exp. 19:15 Fed rate announcement 1.0% exp.	Air Liquide, Saint Gobain, Interbrew, Merck 09:00 German Oct Ifo Index 91.5 exp. 09:00 EU Sep M3 y/y 8.4% prev.

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morning all,

still long lgen cna gnk...

the weather is getting really freezing in hertfordshire i had to snap the dog off the lampost :-)

Have a good day all..

Mega...

TUE FTSE PP

R2 4281
R1 4266
PP 4252
S1 4237
S2 4223

Ftse close just under Mon R1 after gaining 1.6pts in the auction!

Updated 10/27 for Tuesday's market.
Key DOW Levels for 10/28
UP Above 9,650
DN Below 9,550

Morning Rally
Dow rallies, but fades back to the close.

From prior commentary, "...Since the Dow ended the day with such a sharp rally, we could see the strength spill over to Monday's trading. An upside break through the upper trend line at 9,600, seen in the 15 Minute Chart, could spark an extended move higher due to current strength..."
The Dow got the break through 9,600 this morning and rallied sharply higher early in the session, seen in the 15 Minute Chart. However, the rally was short-lived and followed by a slow bleed the remainder of the session, as the index gave back most of the day's gains to end higher by just 26 points.

Looking at the 15 Minute Chart shows that the index is forming a downward-sloping consolidation at the highs of the current upmove. This pattern is typically bullish and usually results in an upside break. Therefore, we will watch the upper boundary of the pattern at 9,630 for an upside break. A break here will likely make for another move higher within the wide expanding range that has formed in the 60 Minute Chart.

However, should the index fall back below 9,550, we will likely see another wave of weakness enter the market.

Short Term Dow

Short term, we will watch the tight, sloping consolidation for a break for tomorrow's Open. An upside break through 9,630 will indicate strength, while a downside break through 9,580 will stir weakness.

Medium Term Dow

In the medium term, we covered Shorts this morning at 9,620, giving us a 21 point gain for the prior trade. We later entered the market Long at 9,651, but stopped out for a 10 point loss. We are now out of the market and will watch 9,650 up, and 9,550 down, with 10 point stops.

NASDAQ & S&P

The NASDAQ gapped up this morning, then traded strictly sideways throughout the session, while the S&P popped and dropped to the Close. Watch the developing consolidations tomorrow. *

Summary

The Dow rallied at the Open today, but faded back down to the Close, forming a sloping consolidation at the highs. An upside break is likely, but watch both boundaries of the consolidation for a break.

Morning all

Morning all....

Hoping GSK is going to go up 15 today so I can take a nice profit on my the purchase of yesterday and get back into cash. (It goes ex div tonight)

I really must stop posting what I hope is going to happen! It seems that every time I do, the opposite happens! Oh well maybe I'll keep GSK and just take the divi.

Stockbunny, from what I can remember you tend to be arround in the late afternoon, early evening.

But as I'm going out soon until late I ask this now - do you have level 2? There has been a real battle on with ULVR! Not many actual sets trades actually going through, but many orders being put on & taken off constantly. It'll be interesting to see what happens - but I won't be able to............ Tommorrows another day.

Hi:
What are your views on the doiw today.
Seems to have been trading sideways and today i think it will take ahike north then a Downer.
Whats the upside today if any and will the feds support or kill it today as there are signs of amini rally ( trin at 0.54 15.04gmt)
I am long from yesterday and watching the screen
rgds
zarif

Clocks now correct :-)