Bull Monday Bear Tuesday | FTSE 100 rise to 7410?

14th March 2017

Good morning. Apart from the dip at the open the rest of the day was fairly flat, hovering around 7375 as we await the Fed tomorrow, and also as the market was waiting to see the next stage in the Brexit journey.

Global stocks are within a whisker of a record high as analysts ratchet up expectations for the Fed to raise interest rates at a faster pace than was expected at the start of this year. Data from China showed industrial production climbed 6.3 percent in January and February combined, while retail sales advanced 9.5 percent.

FTSE 100 Outlook and Prediction

FTSE 100 trend channels
FTSE 100 trend channels

Well we had the bull (ish) Monday yesterday so will we get bear Tuesday again? There is a 9.6 dividend this week so that may well support things though of course most eyes are on the Fed and the possible rate rise. Also Brexit and when Article 50 might be triggered. The path is now clear for that, and whilst yesterday they were saying it might be triggered today (which is why cable has probably fallen in the last hour) they are also saying it might be towards the end of March. Cant beat a bit of media speculation/guess work.

Scotland want a second referendum too – there seems to be this new expectation that you can keep doing something till you get the result you want – though the PM refused to entertain that idea!

For today, we have resistance at the XXXX initially and then the XXXX area, with R2 and a fib pivot around there, and with a rise looking like the first move of the day. Above this then we have the 10 day Bianca at 7420, 20day at 7427 and then the 10 day Raff at 7445. The key will be if the bulls can break above XXXX though – that keeps things very bullish.

Support wise, we have the pivot at XXXX to start with, with a bullish 2 hour chart showing support at XXXX and XXXX so a long around this area might well be worth a go. With cable sliding this morning that should help the FTSE – it really didn’t want to drop yesterday though despite cable being up 70 odd points for most of the day.

We have a pretty big week this week really so its certainly some interesting trading conditions, but I am watching XXXX and then XXXX as main resistance levels, XXXX as support.

You are probably wondering why I have XXXX instead of numbers. Unfortunately a brokerage firm in London are copying this content and emailing it to existing and potential clients and passing it off as their own. As thats not fair on members who are paying for this content I wont be publicly posting my levels of interest.

29 Comments

  1. Good for you Nick …F*** them….I don’t blame you and I’m all for it…good on you..

    1. Apologies for language but it really annoys me when people steal stuff and pretend it’s their own….the worlds full of them…

  2. Long now combined at 75 so 0.8 pts less than I sold last night but I got a nights sleep :0)

  3. What happened to the arrows? I won’t see the arrows any more? I agree with Nick that he wants to protect his content but it’s a shame for me as I trade a different market and used arrows for some kind of guidance. Oh well, I will have to do it myself then. 🙁

    1. They may come back. At the same time, its not fair on members if people are going to steal it then pass it off as their own.

      1. Oh, I am absolutely agree with you, it is unfair. And I would never support people who take other people’s content as their own. It must be very upsetting for you to go through with this right now and we’ll support you, no doubt. We all value your opinion here.

    2. Hi Jack….just read your comment on ydays board…Thx Jack…I’m glad you got 17 pts also….:0)

      1. I wouldnt throw any money at lawyers. What they have done is plagiarism from an open source, no law against that. Understandable if you publish only to members and have lots of warnings in there against republication, but even then a court would surmise the content amounts to speculation and does not fall within the realms of intellectual property. Thats the internet for you.

        1. Yes thanks CM. Technically it is theft but quantifying the damages is a the hard part. Plenty of cases where damages have been awarded for 5k to 100k. Anyway, thats the problem as soon as you put something “out there”!

  5. I have never seen volatility so low at this time of year, and I doubt it will change much this week as interest rate hike is foregone conclusion and surely the world is weary of the word brexit, I know I am. I dont bother watching the news anymore its just incompetent politicians out for themselves. Wouldnt be surprised if market spikes a bit on Wednesday evening and returns to its range shortly thereafter. Only surprise language in the Fed statement concerning the outlook could spook markets, presumably pushing the dollar up and everything else down. Might bail out of my gold position tomorrow afternoon and live to fight another day.

  7. Hi All. Hp having good time.. ANstel you got lucky there.. 😛 Nick felt bad to hear that peple are actually taking advantage ofyour hard work service.
    THough I was short from morning 7 and just came out all @ 55.. TMfp not around these days.

    1. Hi Sharma.i think you should be really careful shorting this market….just don’t get caught short …..lucky yes maybe,but not in my eyes…….all the very best mate,I think you are a very very good trader matey.i think you have a more precise trading mind than I have but be careful mate…

      1. Thanks Anstel for your kind words TBH I am neither short or long Mind I trade as day serves or wants to be traded. Most my best days have no precise directions yet I have managed well there not because I am good or anything purely because every time not being greedy rewards me I take it as a lesson and am usually tight with stops and number of trades per day. This helps to put things in perspective and keeps the P/L in control.
        Ex I was short from 88 in morning came out @ 74 then shorted 88 again later and simply added on the way and when the time was right didn’t wait for more low simply came out.

        Lucky day I guess when your plan meets the day chart.
        P.S Good luck to all
        Also I dun trade every day hence not usually here.

        1. Hi yes it’s one of my biggest problems pushing for a bit more,…..I’m trying very very hard to take profits earlier but I’ve noticed it’s mainly when I get tired if ive pulled an all nighter..im trying to fine tune my trading mind and I’m still working on my execution..it takes time to change to acting instantly. Good luck Sharma,all the best…..

    3. I was so scared that wanted to place long but pressed short in the last moment. Glad I did.

  9. Dax was really annoying with its DCB today. Unreal rise from 12.20, I dumped my long too soon and started shorting too early. And now it is sitting.
    I wonder what Nick’s arrows looked like. I bet it was: tiny up, down and up.

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