FTSE 100 rise to 7474 today | Ransomware | NK Missile Launch | FTSE Bulls in charge

15th May 2017

The main news over the weekend was still the ransomware attack though the impact doesn’t seem to have bothered the FTSE 100 much, neither on Friday, nor on the futures prices Sunday night. North Korea fired a ballistic missile early Sunday, its seventh such test this year.

We saw a sharp rise after the bell on Friday and we are currently seeing 7447 – the all time in hours high. It looks strong still and we are into bull Monday so I am thinking that we will see a push higher – I am expecting the 7475 area which is just above the 10 day Bianca at 7464. The daily RSI(10) level is currently 72 as well so we are starting to get a little bit over excited at these levels.

FTSE 100 Outlook and Prediction

Daily FTSE 100 Trend Channels
Daily FTSE 100 Trend Channels

I am watching 2 main areas today, 7465 to 7480 for resistance and 7427 for support. I think we might well see reactions at both of these levels and it will be interesting to see if the bulls can make the rise from last thing Friday stick. The ASX200 had a rise and dip pattern for their Monday session, and gold has started to tick up a little bit as well, rising from the 1220 recent low area.

Want more detailed analysis? Then please join our active members community.

What you get

  • Daily Analysis pre market open (sent around 7am each day) for FTSE, DAX, Gold and S&P.
  • Daily email pre market includes my trading plan for the day including ORDER levels, with stops and targets/limits
  • WhatsApp and webinars group membership for discussion and realtime trade updates

 

38 Comments

  1. Morning guys,six successful scalping trades this morning….presently long from 46…

    1. Had a decent short on Dax this morning from 12830 to 12775.

      FTSE could still be on for the 7480 area I think.

  2. Gold 200ema on daily at 1237.7 so if it breaks that then its also broken out of the declining Raff channels and could be on for 1265

  3. Trend is still up on FTSE… Just letting you know Hindenburg Omen has flagged recently…

  4. My word it’s stagnant now across all indicies. I guess everyone else like me is wondering where next?

    Bear Tuesday would be nice.

    1. Think it will be a baby bear with a 20 point divi on Wednesday to look forward too

  5. Anyone / Nick now of the best place to get dividend points for the various indices. I can never find them online or on IG

    1. Hi

      Icarus, thanks…I know Reuters sometimes issue it but didn’t know if there was a website with a summary for the week ahead to save me hunting.

      Wondering if to load offset buys in late tonight…can’t see it going down with size of dividend.

  6. The FTSE is doing a very good impression of something that’s going to keep rising!

    Looking 7500 on the cards!

  7. Evening chaps…..I don’t think the Ftse is coming down anytime soon,7500 is next target IMO……I’m sorry for you Guys stuck in Shorts….ive been in that situation myself ,if I was stuck in a short position I wouldn’t be adding too much instead I would be scalping 20% -30% of the size of your short in hedging longs to try and cover your costs especially with the divi on weds being chargeable and the finance costs…I would view it as a damage limitation exercise …..but keep your long hedges much smaller than your short so if it does drop a lot your short will cover your loss on your long if you fail to dump any longs in time…very best of luck Icarus, Morko,and all in short positions that are underwater…….

    1. Cheers Anstel, I still have margin but may add a few cheeky longs in for insurance. I’m short on DAX, Dow too so they may drop overnight.

      How I have missed these times the last 6 months.

      Let’s have another go tomorrow 🙂

      1. Hi Morko,ive blown a few accounts and ive made a lot of mistakes but I’ve Learnt the hard way……once I had trades on Ftse dow Dax and silver,they all went bad and ended in a major drawdown….one of the things I’ve found that you really need to guard against is boredom ….say you are long on Ftse for e.g.and your 20 points behind and the markets flat…….your waiting and you see the Dow sell off 150 pts and you might think while I’m doing nothing I will scalp the Dow ,,so you place a small long looking for a retrace that doesn’t happen before you know it we could end up exposed on two or three or more markets…..then if they all go against you you have some major decisions to make and some big losses to contend with….Ive found its better to try and limit yourself to one market really if possible,two max really,and try to keep losses in check which isn’t easy ..trading around a losing positions takes guts but I have done it on numerous occasions and more often than not managed to cover my costs for financing and made a little extra too…the nice thing about trading against your losing position with a hedge is that it doesn’t cost any more margin and you are reducing your overall risk,BUT very important you Must be prepared to exit your hedge if it starts going too far against you,,,just take the loss and get out……The First Cut is the cheapest……otherwise you end up stuck right in the middle with red on both sides!!!! Best of luck…..

  8. Hi Amstel, really appreciate your comments.

    I am now fully offset on FTSE. If they all go down then I can sell and add to FTSE to pick up divi raise, if they all go up then I am fully hedged on FTSE. Either way after a lot of thought by fully hedging FTSE I shouldn’t be in a worse position.like you say it’s when you exit that’s key,

    Having a beer, I’m not in heavy compared to my scale last year. My rules are always bet what you can afford to loose.

    This lark is stressful but keeps the gray matter exercised.

    Cheers again for the advice I do appreciate it.

    Cheers Morko

  9. BTW, I think we may see 7500 tomorrow- how F&£ed up is that….you heard it here first! ,)

Comments are closed.