Limpsfield's Weekly Chart View

Last weeks analysis was way off the mark, as the market was anything but choppy. There was a strong rise all through the week which has put the indices near some big levels which makes for an interesting few days ahead.FTSE 100Intraday FTSE Last Friday saw the FTSE within spitting distance of the 5000 mark once again. Weve seen rallies run out of steam up here over the past couple of months and at the moment the expectation is for the same again to happen, targeting 4860. A break through 5000 would suggest that the slide that started in February is truly over and it is time to turn properly bullish again. Dow Jones Intraday Dow It is a similar outlook on the Dow. The 10,570 mark is the big one to watch and weakness is expected ahead of here, setting up 10,250 once again. A move through 10,570 would be significant and set up the 10,850 area but for now the rally is expected to peter out. It should be another very interesting 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)

Hello traders!

Thanks once again to Supermum and Limpsfield for their thoughts and charts.

There is a small problem with one of Limpy's charts that I will try to have fixed before morning. :-)

I'll be back with news and updates as soon as they are available.

Hope you are all enjoying a happy weekend....

G.

Last week's analysis may have been off the mark, but usually it's right on the money. Nobody has a crystal ball - personally I only trade around key technical levels so it is invaluable for me. Thanks Limpsfield for providing such a quality (and free) service!

Good morning traders!

In Asia this morning it is a bit of a mixed bag. Tokyo was recently trading ahead 84.55 points at 11,121.84 while Hong Kong has closed its morning session down 33.32 points at 13,684.1.

New York's main oil contract, light sweet crude for delivery in July fell 35 cents to $48.30 a barrel from its close of $48.65 on Friday in the US.

INVENSYS CUT TO 'UNDERWEIGHT' FROM 'EQUAL-WEIGHT' BY LEHMAN, TARGET 7P VS 19

SHIRE PHARMACEUTICALS DOWNGRADED TO 'REDUCE' FROM 'BUY' BY NOMURA

Off to see what else I can find....

Happy trading!

G.

AFX UK at a glance share guide - 3

MARKETS
FTSE 100 4,971.8 up 9.1
DJIA 10,471.91 up 21.28
Nasdaq Comp 2,046.42 up 3.84
S&P 500 1,189.28 down 1.80
Gold 417.25 usd (420.60 usd)
Oil - Brent Jun 48.03 usd (49.49 usd)

BREAKING NEWS
*Regulators step up hedge fund scrutiny amid concerns over risk of collapse - FT
*VODAFONE steps ups aggressive buy-back - FT
*DAIRY CREST expands into enriched milk - FT
*First Calgary in venture talks with REPSOL - FT
*AVIVA looks to unlock 4.5 bln stg - FT
*Maplin Electronics in danger of breaching banking covenants - FT
*JUMPIT set to raise 3 mln stg with AIM listinh
*BRITISH LAND to bid 770 mln stg for PILLAR PROPERTY - Daily Express
*MARKS & SPENCER to boost sales with 1 bln stg facelift - Daily Express
*Phoenix Four brace for DTI inquiry into Rover Collapse - Independent
*Takeover of LONDON STOCK EXCHANGE could seriously damage city's standing - Independent
*REGAL faces share trading inquiry - Independent
*HILTON sounds out buyers for fitness club chain - Times
*CALEDONIA INVESTMENTS buys loan stock in India - Times
*LSE reviews admission rules for small oil and gas firms - Times



INDEPENDENT - SMALL TALK
*WHITE NILE shares could fall to 60p vs 138.5p as trading restarts from suspension
*BIO-PROGRESS to appoint Richard Trevillion as CEO
*CERESPOWER to announce breakthrough in fuel cell technology
rn/ec

STANELCO SIGNS 1ST COMMERCIAL DEAL WITH ASDA SUPPLIER FOR GREENSEAL

BLUE STAR MOBILE IN REVENUE SHARE DEAL WITH O2 FOR THE SUN'S PAGE 3 CONTENT

Morning all.

Morning all.

HIT Entertaiment deleted from the FTSE250 and replaced with Unite Group on 25th May.