Limpsfield's Weekly Chart View

It was going to come at some point, and last week saw a correction in the major stock indices in the UK and USA. By Wednesday the FTSE was off 100 points from Mondays high and the Dow was down a couple of hundred points from the previous weeks highs. However, the latter half of the week saw the strength return with the Dow having a strong close on Friday and the FTSE back above 5000.FTSE 100Intraday FTSE While the FTSE did take a good clobbering at the beginning of last week, at the risk of sounding like a broken record and cutting and pasting everything said last weekend, it does not change the trend since August. This remains firmly intact with major support at: 4765 (the lows for the year); 4897 (early February lows and also the 23.6% Fibonacci retracement of the rise from August for the nutters out there.); and 4970 (last weeks low). So for now the trend is intact, 5100 is the next target and any short term dips back to last weeks late lows around 4970/4985 should result in a bounce. Dow Jones Intraday Dow Last week it was mentioned that the highs from the end of last year were proving to be a problem once again. Tuesday saw the Dow continue its decline back to the 10,600 area, before spending the rest of the week in recovery. This rally has put us once again within sight of the problem area: 10,850/10,900. This markets needs to crack this level if it is going to shake off the sideways range that has been in place over the last two months. Is it going break? Who knows the first couple of days of next week should shed some light on this the next big hurdle after 10,900 is the psychological 11,000 mark. Friday was a very strong day but has not left too much support if the market starts to dip again support levels to watch on the Dow in the face of weakness early on are a bit finger in the air 10,800 is the first one and then 10,735 which was Fridays low. Have a good week!Limpsfield Limpsfield is David Jones, the widely acclaimed charting expert at Shares Magazine who also hosts regular Charting courses for Global Markets Training (www.glomtc.com)

Good morning traders!

Last day of the month usually throws up some strange transactions as traders and funds reposition themselves...

Off to find some news....

Happy trading!

G.

PILKINGTON DOWNGRADED TO 'SELL' FROM 'NEUTRAL' BY UBS

The Nikkei closed up 82.35 points at 11,740.60 -- its highest close since July 1st last year....

Morning

NFC - moving from the Official List to AIM doesn't often do companies any good
http://www.uk-wire.com/cgi-bin/articles/20050228070000Z1031.html

TAN - "understanding" with ADC
http://www.uk-wire.com/cgi-bin/articles/200502280700050684J.html
http://www.uk-wire.com/cgi-bin/articles/20050228070008M6173.html

WNER - disposal
http://www.uk-wire.com/cgi-bin/articles/200502280700100786J.html

MIO - more gold and silver in Mexico????
http://www.uk-wire.com/cgi-bin/articles/200502280700120795J.html

CMR - not dissimilar, but in Peru
http://www.uk-wire.com/cgi-bin/articles/200502280700130805J.html

DSY - minnow in the hospital disinfection business
http://www.uk-wire.com/cgi-bin/articles/200502280700160820J.html

RHG - profit warning
http://www.uk-wire.com/cgi-bin/articles/200502280700180844J.html

GEN - still floundering, but for how long?
http://www.uk-wire.com/cgi-bin/articles/200502280700200854J.html

VSC - new office in China
http://www.uk-wire.com/cgi-bin/articles/200502280700230863J.html

POG - new Russian license
http://www.uk-wire.com/cgi-bin/articles/200502280700380889J.html

SOF - Baugur confirms interest
http://www.uk-wire.com/cgi-bin/articles/200502280700410910J.html

EVC - deal to manufacture drug
http://www.uk-wire.com/cgi-bin/articles/200502280700470915J.html

ITL - new contract
http://www.uk-wire.com/cgi-bin/articles/200502280700590944J.html

RBG/RAT - offer rejected
http://www.uk-wire.com/cgi-bin/articles/200502280701000945J.html

SDL - deal
http://www.uk-wire.com/cgi-bin/articles/200502280701010946J.html

UKB - new websites
http://www.uk-wire.com/cgi-bin/articles/200502280701030950J.html

PYM - possible termination of licensing agreement
http://www.uk-wire.com/cgi-bin/articles/200502280701050954J.html

FLX - deal
http://www.uk-wire.com/cgi-bin/articles/200502280705020909J.html

LSV - share price movement
http://www.uk-wire.com/cgi-bin/articles/200502280730020799J.html

Busy morning!!

Morning all.

morning all.

looking to long BBY TRY MNKS today

long BBY 315.5 s/l on

long MNKS 192 s/l on

covered BBY +5.5

long TRY 134.5 s/l on

long RGU 109 s/l on

Morning all,

MB - nothing short?

lw,yep cable shorted !!!

Thanks Greystone and Limpsfield and oh, BIG AL :-)

long ARM 108 s/l on

Yes thanks guys for the usual informative start to the week.
:>)