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Despite record oil prices due to worries over terrorism the US Markets after spending most of the day in negative rallied in late trading to close up.
Points to a flat to up Market in the UK tomorrow depending on overnight news I would suggest.
Good Hunting
M

Evening Martini. Info appreciated as always.

good luck all ,trickey times in some sectors,retail still fizzing,thank god.
martini,,how long does this page take to build,regards dave.

daves dazzlers
Getting easier as I am doing templates, being slicker with the html as I use it more and know where to go to get the information from but still taking a lot of time.
Keeps me off the streets for the present.
Cheers
M

R2 4465
R1 4444
PP 4428
S1 4407
S2 4391

Ftse closed under it pivot on Tue and gained .2 in the auction, quite a few heafty divs to hold the ftse back at the open tomorrow, 4430 clear res up to watch and the uptrend off the low at 20 down to watch, all down to the dow to hold above 10150 for ftse strength tomorrow, 10220 up on dow the res, looks rangebound atm!






Updated 6/1 for Wednesday's market.
Key DOW Levels for 6/2
UP Above 10,230
DN Below 10,125

Still Consolidating..
Dow trades sideways, continues development of consolidation.

From prior commentary, "...The fact that the consolidation has formed at the highs of the recent advance is highly bullish and implies an upside break next week. An upside break through the top of the consolidation at 10,230 will likely make for a solid push toward the upper boundary of the major trading range at 10,375..."
The Dow traded sideways within the boundaries of the clear consolidation that has formed at the highs of the recent advance, seen in the 15 and 60 Minute Charts. The Dow ended the day with a sharp rise to the top of the consolidation, which continues to imply strength in the medium term.

The consolidation has developed into a downward-sloping pattern, which typically has a higher potential for an upside break. Watch for a break through 10,230 tomorrow, which will likely spark a significant rise in the market.

Otherwise, a downside break from the consolidation at 10,125 will make for weakness within the current uptrend. Look for the index to continue trading sideways within the consolidation boundaries before a break either way is seen.

Short Term Dow

Short term, the Dow is holding at a clear short term resistance level at 10,220, seen in the 5 Minute Chart. Look for continued sideways-to-down movement below this level until a break through it is seen.

Medium Term Dow

In the medium term, we entered the market Short today at 10,150, but stopped out with a 20 point loss. We are still out of the market and will watch 10,230 up, and 10,125 down; using 20 point stops.

NASDAQ & S&P

The S&P and NASDAQ each continue to hold at the highs within the their respective consolidations. Look for further sideways movement until a clear and solid break occurs. Such a break should spark major movement. *

Summary

The Dow ended the day near the upper boundary of the bullish consolidation, which implies future strength. An upside break will likely spark a very solid move higher, but watch both the upper and lower boundaries, as a break either way should provide direction.

60

Thanks for summary TP

Morning all

Morning all.

morning all

Mornin all

tx again martini and tp

Afternoon all,

I posted some P&F charts on yesterday's thread, late on.
Stuff isn't working out exactly as I expected, so I'm
giving up the fool's errand of trying to call the breakout
direction and will watch for the breakout.

Until then back to business as usual, trading the range, with
index shorts from resistance and beaten down Blue Chip longs
from support. Watch the swing charts for direction and P&F
charts for correlation.
No point in changing a winning formula.

Melnibone.

I keep watching the S&P futures, as the FTSE seems to be still following
pretty closely.

I always have an S@P chart open what ever I'm trading.

IMHO it gives top down approach guide to most markets direction.
The market direction will guide as to whether your stocks
are more likely to gravitate towards resistance or support.

Melnibone.

Market ramblings wrap.

Market started strongly but when the US markets opened early US weakness, as oil prices rose further, dragged it back and with unexpected news on GSK the FTSE100 closed at its day lows. Flat!

Traders hunted around playing the usual suspects and in the Traders Room - traders thread took to talking of the significance and what can be gleaned from Crest stock loan information.

Dailos who had kicked it off was broadly dismissive of this and all such indicators saying news flow was the driver to watch.
Just to prove him right news broke that New York State Attorney General Eliot Spitzer had sued drugmaker GlaxoSmithKline for alleged fraud regarding information about adolescent use of its antidepressant medication Paxil. The share wiped off its days gains in a few minutes and close down 33p at a day low helping to contribute to the FTSE100 flat day



Regards
M

In the rest of the Market

Top % gainers for the day (and I am pleased to say I held one)

BFRD Beauford 20
ASR Avionic Service 19
OXB Oxford Biomed. 16
LSV Leisure Vent 13
BET Betinternet.COM 12
YSP Your Space 12
WSS WEB Shareshop 11
AVG Avingtrans 11
SUN Surgical Innov. 10
IDN IDN Telecom 10
BRF Bright Future 9
BS. Base Grp. 8
AFG African Gold 8
MPH Marchpole Hldgs 8
JRVS Jarvis 7
STA Stagecoach The. 7
COH Coffeeheaven 7
ACR Abbeycrest 7
UTN Ultima Networks 7
ENVA Enterprse VCT A 7
CCO Crown Corp 7
AGU Angus&Ross 7
TAD Tadpole Tech. 6
AFD African Diamond 6
CSW Computer Soft. 6
TAL TEN Alps Comms. 6
FTO Fortune OIL 6
CYC CYC Hldgs. 6
BIP Bioprojects 6
MKLW Mucklow (A&J) 6

Top % losers for the day (of which I am pleased to say I held none)

CBF Cobra BIO-Man. -33
LPA LPA Group -17
MVK Maverick ENT -17
NSO Nature Tech -14
ACV Advance Visual -10
IAL Inter-Alliance -10
MLR Maelor -9
MT. Mytravel GRP -8
CFP CFA Capital GRP -8
TDM 3DM Worldwide -8
AAT AEA Technology -7
ENK Euro.Nickel -7
AIM AIM Group -7
HCR Healthcare HLD -7
GED Global Energy -7
RFI Reflex GRP -7
PRO Provalis -7
PYM Phytopharm -7
AP. Alltracel Ph. -7
MOI MOS Intl. -6
FLG Flightstore -6
GNE Global Natural -6
UNG Universe Grp. -6
AMR Armour GRP -6
GEN Generics GRP -6
BLG Belgravia Tel. -6
BRV Business Serve -6
HTE HIT Ent. -5
BTM Bertam Hdgs. -5
CYH Cybit Hldgs -5

Volume/price leaders

MKS Marks & Sp. 451,162
GSK Glaxosmithkline 440,537
VOD Vodafone Grp. 391,084
BP. BP 389,865
SHEL Shell 313,851
LLOY Lloyds TSB Grp. 309,798
HSBA Hsbc Hldgs.UK 231,638
BSY Bskyb 188,374
RBS Royal Bank Scot 163,260
CW. Cable & Wire 142,542
XTA Xstrata 112,141
BARC Barclays 111,733
GUS GUS 103,163
AZN Astrazeneca 95,553
BATS Br.Amer.Tob. 89,358
STAN Stand.Chart. 88,826
SAB Sabmiller 85,051
BLT BHP Billiton 83,572
BT.A BT Group 80,861
SPW Scot.Power 79,890
DGE Diageo 75,028
RIO RIO Tinto 74,898
TSCO Tesco 71,678
RB. Reckitt Bencksr 70,472
PSON Pearson 65,968
REL Reed Elsevier 57,778
BG. BG Grp. 53,544
NGT National Grid 52,630
AAL Anglo American 51,598
ULVR Unilever 51,161

Sector % Performance

Personal Care & Household Products 2.38%
Information Technology Hardware 2.26%
Food & Drug Retailers 1.37%
Health 1.27%
Electronic & Electrical Equipment 1.24%
Chemicals 1.12%
Oil & Gas 1.06%
General Retailers 0.85%
Software & Computer Services 0.81%
Construction & Building Materials 0.77%
Engineering & Machinery 0.63%
Real Estate 0.44%
Aerospace and Defence 0.37%
Media & Photography 0.33%
Investment Companies 0.32%
Speciality & Other Finance 0.31%
Banks 0.28%
Automobiles 0.26%
Transport 0.25%
Beverages 0.16%
Support Services 0.09%
Food Producers & Processors 0.01%
Distributors 0.00%
Restaurants,Pubs & Breweries 0.00%
Diversified Industrials 0.00%
Steel & Other Metals 0.00%
Gas Distribution 0.00%
Water 0.00%
Packaging 0.00%
Life Assurance -0.04%
Tobacco -0.16%
Insurance -0.17%
Telecommunications Services -0.26%
Leisure,Entertainment & Hotels -0.44%
Electricity -0.86%
Forestry & Paper -1.10%
Pharmaceuticals -1.70%
Mining -2.41%

Yippeee... I held one too ;)

Well D that brighten a day up a bit - like waking up to a nice email eh?
M:)

Well - you know what they say...an early bird is worth two in the bush :)