Rise and dip today | New month money | 7588 FTSE 100 resistance

78 Comments

1. My take short term trend is neutral..7535 is support…
   Seems it’s being driven up out of hours in low volume…when markets open…It’s selling high volume…Hindenburg Omen has been triggered 2 weeks ago..I’m half expecting a big correction…

   1. As long as yesterdays low is not broken the trend remains up. Think it was about 7513. Dont bother with expectation and fear. I only have a small long position in ftse at the moment, but as long as 7514 holds it is allowed to run. Now honestly you would think as the election approaches markets would becomd mord cautious and that may well happen. But I prefer to trade the chart nowadays it works better than anything else.

2. Correct sir

3. Only difference is I am expecting this is the start of a long tiring bear market

4. Hi gang,well I’m knackered,there was not much going on out of hours last night,been up all night holding the baby ,I’m about 26 pts underwater,don’t think we have seen the end of the bullishness yet to be honest….7600 is next…..and I’m not ruling out it getting even closer to 8000….how long it can continue rising is pure guess work till we see evidence of a lack of monetary support when we do then Icarus will be smiling….till then my bias is long….

5. Morning chaps.

   The bias has definitely changed from strong bull to neutral. I do think it may rise up to 7600 again but we are definitely on the crest of a fall IMHO.

   I am mainly short with a few hedge longs.

6. I’m happy to see an article was published on cnbc on 5th May regarding the Hindenberg Omen George speaks about………nice bit of fear porn …it’s probably not going to crash just yet IMO……

   1. I mean we still have 600-700 pips of cable sell off to push Ftse up yet :0) good game good game :0)

7. Lots of volume came in on an up bar with no price action result…could be hidden selling..

   1. What time was that George please ?

      1. ?

8. Spot on George. Hidden selling is the right phrase! This will get to 7600 but that will be nothing but a false breakout

9. We will see gap close before 7600

   1. That’s my current thinking but in a market like this anything is possible and we have to think quickly and more importantly act quickly when thr time comes

      1. Yes your right, we have to be on the ball and ready for anything that’s for sure….one things for certain when it crashes it will come from left field and happen when it’s least expected…

         1. I agree. I’m getting a really bad vibe, some of the markets behaviour is contradictory at present. Indices at record highs and yet gold has been on a rip for the past two weeks. Smart money is already on the move I feel.

            Saying that I’ve been feeling very bearish since End of Feb / March, just waiting for the charts to confirm my suspicions

   2. Yeah it does drive me crazy but sticking to my analysis till it’s valid

10. I think if mother theresa wins as the market expects then we,ll see the top of this run , if the unthinkable happens then god help us all !!

    1. If that happens I’m going to quit trading and emigrate

11. Not having much success getting out of jail at the moment…..underwater 23pts and missing lots of points……grrrrrrrr…oh well the divi was 5.91 pts so it’s a bit of a consolation …:0)……be glad to get shut of this long at break even …….mind you a profit would make it worth while….not a good trading day for me so far……goin back up my tree and waiting…….I’m normally very patient but this is p*ssing me off….

    1. Hey Icarus I don’t know how you put up with the long game when Mr Pump keeps showing up? It would drive me nuts….

       1. Come on 73.3 :0)

          1. A nice rise going into NFP would be very welcome :0)

             1. This is looking promising :0)

             2. Come on :0)

             3. Keep coming Ftse :0)

12. Yeah it does drive me crazy but sticking to my analysis till it’s valid

13. Might get out of jail here,,,,might even make a profit :0)

    1. Dow well oversold 3 min…..but can it hold the level I think maybe it can then off again…..

       1. It’s goin to go again I think…

          1. Did you make a profit Anstel? Hope you did

             1. Including the divi I’m about break even now,if there’s any more its profit…..even if I only break even on this ive had a fantastic week already so I don’t mind being patient and seeing what it’s got,cable decending…NFP tomorrow barring a black swan it could yield profit I think…ive got some size on….

             2. The hard trade is usually the right trade…

                1. 😉

             3. The key is controlling your emotions and trade without fear…

             4. Ok I’m in profit….RSI on Ftse 5 min just ticking over and so is the RSI 3 min Dow……holding..its goin higher.

             5. Double top forming on 3 min Dow though..

             6. Oversold on 15 min Dow…..it’s mental up here lol…I need oxygen…..:0)

                1. DOW & SP500 Needs to go down or I’m toast !

             7. Well it’s nicely positioned for a push to 7600 tomorrow now I think holding for now..

14. DOW 21127 MEGA short for me.

    1. Easy tiger its NFP tomorrow….

       1. It can go up as well remember :0)

          1. It hasn’t got up here on its own Si….now has it?

             1. Just a squeeze. 🙂

       2. Not long term, just long enough for trump to say he’s pulling the US out of the climate deal. 🙂

          1. It looks to me like a token pullback this,I’ve got thousands of hrs watching the market action and you see things…..

             1. I like patterns a lot ….

15. Dow up 120 pts, aapl up 4. Tells you something is broken isn’t it

    1. Icarus my man. Today is the day! 23 mins to go.

       1. I hate to break it to you Si but it’s not today I’m afraid …..

    2. Not so sure yet…..but you will have your day Icarus :0) hope I’m with you when it goes :0) hope we are all with you…:0)

       1. It would be payback if Si manages to get short when it goes,ive seen all the cr@p you have been through Si…..well all of us on here have been turned over to get to this point in our trading careers……every dog has its day :0)

          1. Let’s get the kettle on :0)

             1. Got my new bread maker Si :0)

             2. Ha! You might need it after this tonight.

16. 🙂

17. I would close dow shorys around ftse close tomorrow

18. I’m short oil too. Get ready!

19. It’s teasing you :0) lol

    1. What makes you two think it’s going to collapse tonight ? Apart from me being long :0)

       1. 7600 :0)

          1. Dow 21200 :0)

       2. Trumps about to fart

20. If you’re long, get out, get the fire brigade out and stay out. 🙂

    1. Ok then :0).

       1. Think I will borrow some money at a ridiculously low interest rate and buy the dip :0)

          1. Hey Si just post me your money and save the spread :0)

             1. What’s that green thing on the screen :0)

          2. Sounds like a ponzi scheme?

             1. Lol :0)

21. Never said it’s going to drop overnight. There’s time for a sell off not a lot but it is there.

    1. Icarus, today is not the day. Anstel wins. haha. ONE DAY I’LL GET IT!

22. Here comes trump… stand by!

    I am: SHORT FTSE. SHORT DOW. SHORT CRUDE. LONG GOLD. 🙂

    1. Tumble weeds. 🙂 Oops.

23. Closed it all. zzz

24. 🙂 yeah 7 years of conditioning

25. Pressed to close at exactly break even but slippage nailed me for 1.8 pts grrrr….still the dividend covered that and I still got a wage out of it….it closed me at 71.8….. I still think it’s goin up but I need sleep goodnight all…..might re long am if it pulls back.. :0)

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