9th May 2017
Good morning. Fairly flat day yesterday on the FTSE 100 as the French election news was digested, though as expected the Dax saw a lot of profit taking and fell sharply from the 12840 area to 12700. We had a bit of a weak bull Monday, and I am still thinking that we will see a bit of bear Tuesday today, especially as the ASX200 dropped sharply at the open after CBA announced weaker earnings. The FTSE 100 failed to rise much above the 7300 level yesterday and we have 10 day Bianca resistance at 7328 for today, slightly lower than yesterday so the bull run might be slowing.
FTSE 100 Outlook and Prediction
For today I think we might well see a bit of a dip first thing, in a replication of the moves seen on the ASX200. The 30min chart has a bearish trend line with resistance at 7315 and we have the daily pivot at 7307 as well. The 2 hour chart is a lot weaker looking than yesterday now, though hasn’t locked into a confirmed bearish set up. However, I think shorting the rallies today is a good play, as the S&P also failed to break above 2400 yesterday with any conviction, and the top of the 10 day channel on Bianca is 2403.
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Hope some of you noticed the bearish megaphone setup on asx. Shame we didn’t head to 5800
ASX was quite bearish today
Oh yes! I shorted it last night at 5886 and a 10 point stop. Was targeting 5800 but it stopped short of that
FTSE shaken it off though and could be on for 7355
Or 7359 even! Top of the 10 day Raff and a fib pivot at that level. Down to 7250 now?
Had a decent dax short today at 12737 to 12710
Should have flipped to a long at that level! #hindsight
Looking to add to ftse short around 55
Short at 7348
Been a while so thought I would dip my toe.
Welcome back 🙂
FTSE displaying nothing but strength. 7400 an obvious target over next few days.
Added at 50
I’m heading back into FTSE land – short 7355, target 6349! 🙂
Also short USDJPY from 114.05, long gold 1220.
That’s a big ask from the market 🙂
It owes me – I figure I spent last year on holiday sweating as I watched 6349 slip away into the distance… this holiday I can watch it slip back. 🙂
Long at 54
Out at 56.3
Long 51.8
Closed ftse short from 7350 for 15 points