30th January 2017
FTSE 100 Support 7135 7120 7093 7087 7067
FTSE 100 Resistance 7165 7171 7195 7217 7250
Good morning. I hope you had a good weekend. The FTSE 100 ended last week fairly positively at 7175, but the futures prices have opened this week a bit lower, at the 7150 area. We still have that 7135 as fairly key looking support, but there is a chance that we get a rise to the top of the 10 day Bianca early this week at 7195. If the bears break 7135 then 7087 still looks likely, where we have the bottom of the 20 day Bianca. Of course, the big news story of the weekend was Donald Trump’s immigration policy. Already its being challenged in several quarters, and caused the dollar to decline.
FTSE 100 Outlook and Prediction
For today we still have that fairly key looking support at 7135, which is S2 for today and also that previous low area. If the bulls were to hold this then a rise up towards the resistance any 7165 (30min coral) and 7171 (daily pivot) looks likely to start the day. However, with the dollar weakening a bit then the FTSE is liable to rise if the usual pattern plays out. The ASX200 (Australia) had a drop to start their session but then held the 5650 support and saw a small bounce, so we might do the same. If the bulls manage to defend the 7135 level then we may even get a rise towards 7191 early this week, where we have the top of the 10 day Bianca channel. Above this then 7215 is the next area of note, where we have the 10 day Raff channel top.
Should the bears break 7135 then a trip down to 7087 looks pretty likely, where we have the 20 day Bainca channel, and also the daily coral at 7093. A long around this area is probably worth a go too. Could certainly be an interesting open today, as the bulls are on the back foot to start with and have a couple of crucial looking support areas to hold.
Morning all….took short positions Friday close at 69 and 74…. Closed last night as it gapped down for a good haul waited…re longed after open in the high 40s and now underwater…….good luck all…..
Do you think we’re headed below 7,100?
Personally no I dont…..
Whatever prompted your change of heart was just in time, anstel, good move.
Shorted the open, covered it and my Friday short at 30, now wondering what to do.
The two flash crashes @ Brexit/POTUS show how vulnerable the equity markets are to downside, purely on sentiment based fragility as soon anything resembling a dark coloured avian swims into view.
The Trump promised to end a lot of things in his campaign, he forgot to mention the bull market.
Morning tmfp….after the Ftse closed on Friday after a high of hitting 86 I figured I would short the last minute rush at 9 pm Friday as it had really struggled to make gains and hold above the middle 50s…..I was surprised when it opened last night…to see a sea of blue…anyway on to this week …..I still favour the long side for a push back to 200 at some point…..good luck my friend……
Short again at 34. Not sure whether the new 16 low is a significant breakthrough or just a long tail on the hourly. Soon find out.
Took +13 on some, see if that sideways half hour gives any support or it could be down down down…
Added a modest long at 22.8
Cable didn’t break 1.2500 and is regaining slightly …
Still got this anstel?
Just back from a walk…..yes I’ve still got it along with a couple of other longs from earlier……not unduly worried I planned on holding for a push back up…..could have had some points from my 22.8 long scalping in and out but Im just holding for now…….
Morning all! Nobody is talking about gap from friday ??
^^^^^^^^^^^^
Hi Sharma
It’s a gap with a small ‘g’, Friday traded cash hours down to 7150, so the two tails overlap.
Three hours into our session and it’s clear at the moment that bulls are in a wait and see mode, not panicking but not buying the dip either.
I’m not going to keep banging on about it but a protectionist USA strikes at the basis of this globalised bull run, people are getting nervous about Trump’s ability to think things through.
When Google, Netflix, Facebook, Microsoft and Apple execs start falling out with the Prez within a month of him taking office, you can’t ignore it.
Bit of a struggle to get through 36, adding back the covered short, 10 either way.
Took a -2 and halved the short, see where we go from here, technically short term should build off this base so long as we hold 30.
Irritated with my monday weak hands short covering but hey ho.
Definitely waiting for a bit of a sentiment lead from the US, could see the teens again before then.
It’s a miracle that I’ve carved out 20 pts from virtually a straight line. FTSE needs an injection.
That’s an interesting FTSE reaction to 100 down and <20,000 on the DOW….
Took the remaining short out @16 looking for a bounce and got it, reshorted at little at 25. How low with DOW go? Or will the cavalry arrive?
and out at 10 although I think there’s more to come we may have a bit of a short covering bounce into the close.
The DOW performance is quite a message to the Trump, I wonder if he’ll take any notice?
Hope not. 🙂
and a little closing short for the hell of it at 20
and out for +12 tyvm
Closed my shorts too early then!!!
Swing low sweet chariot! Nice to see some blue after getting a bit scared end of last week! Still holding on to DAX and DOW shorts and got an 85 SP as well. I’m going to try and hold on for a long time as we might very well get a decent market correction now the fizz has gone.
Agreed Dutch! It’s been a tense month for myself but the shorts are starting to kick in very nicely, I’m with you as in I’ll be aiming to hold these for some time and hope we see some decent downside!
Gutted I closed my DOW short last week, running a few larger FTSE trades as I don’t like to over-expose myself although hindsight is a beautiful thing!