hilsdentrading

hilsdentrading

The FTSE100 nearly managed the 7225 resistance level yesterday before selling off and then the Fed drove markets down lower later in the day to a low of 7131 overnight. The bulls have fought back a bit though and we are at 7150 as I write this. The S&P managed to get back above 4200 as well and now needs to defend the 4190-4180 level. If it does so then a rise...

hilsdentrading

Today's big event is the Fed later and we may well continue to tread water this morning ahead of that at 1900 this evening. Interestingly, with the S&P dropping off the 4265 resistance level yesterday and never regaining that level the 2h chart has gone bearish with 4256 resistance - if we get a rise to that during today ahead of the Fed then we may well see some...

hilsdentrading Updated 

Whilst its still volatile, the bulls have managed to break above the 7215 resistance level overnight on the FTSE 100. That should in theory now become support and as long as the bulls can defend this level then a rise towards the next key resistance area at 7325 is possible. The S&P has defined the drop to 2610 yesterday and testing 2650 again. Ball is firmly in...

hilsdentrading

Whilst its still volatile, the bulls have managed to break above the 7215 resistance level overnight on the TVC:UKX . That should in theory now become support and as long as the bulls can defend this level then a rise towards the next key resistance area at 7325 is possible. The S&P 1.10% has defined the drop to 2610 yesterday and testing 2650 again. Ball is...

hilsdentrading

I feel that shorting the rallies is still the best play for the moment, with the 7240 area initially resistance to watch today. There is still a chance that we rise to the out of hours Sunday high at 7328 but it was only the larger divi yesterday that fuelled the rise, so a bit of a big ask for the bulls. The 2 hour chart had resistance at 7275 and if you ignored...

hilsdentrading

Am watching the 7450 level for support today. Is this just a pullback in the overall bullish trend or are the bears finally waking up? If 7450 breaks then it may well get a lot more bearish. Consumer spending slowing down, companies making redundancies. Some big companies struggling or going into administration in the UK. US stock markets certainly got ahead of...

hilsdentrading Updated 

The bulls will need to break above 7752 where there is a fib level, otherwise a dip down towards 7580 looks possible for this week and next. That should be a decent support area though for a bullish run again, with 8000 still on the cards for this year. www.hilsdentrading.com

hilsdentrading Updated 

I am thinking that the current leg up might run out of steam in the 7545 to 7560 area and then we get a leg down toward 7415 before the year end rally. The FTSE is struggling to push higher and lagging the Dax and SP, cable is pegging it too. We have a rate rise (potentially but pretty likely 0.25% increase) and that might well see an initial spike higher in cable...

hilsdentrading

Hit the 7450 which was the target on the 7550 short. Ended up going a bit lower, hitting the lower support at 7430. Having now bounced to 7520, we might see a leg down to 7400 before a larger rally, but the bears need to break 7475 which is short term support.

hilsdentrading Updated 

FTSE 100 might well have topped out at 7565 recently and is about to start a leg down to the 7450 support area. Dow is about to hit 23k, while the S&P is struggling to break 2560.

hilsdentrading Updated 

Rise and dip today maybe, watching for resistance at 7420 to start with. Asia and the ASX had a decent day putting in some solid rises across the board, and we closed Friday strongly so the indications are certainly there. I am watching 7420 and 7445 as the key resistance levels for the moment, and it will be interesting to see if the bulls manage to push above...

hilsdentrading

Yesterdays rise saw the crucial 7405 resistance level break. Bulls now need to defend this and also 7380. A break of this is likely to lead to 7300 and probably 7260. With 7405 breaking we can safely presume that 7305 on Tuesday is the short term low and the bulls are now back in the game. The 2 hour chart is bullish again, with support also showing at 7385....

hilsdentrading

For today I am looking at resistance at 7385 where we have the Hull moving average on the 2 hour chart. This is looking decidedly bearish now after that drop yesterday, though has in fact been showing a bearish trend since Tuesday - hence my constant repeat of "sell the rallies" this week. Like a broken record! Above this resistance level then 7442 is the top of...

hilsdentrading

At 7525 we are at the bottom of the 10 day Raff channel, and have had a slow pullback this morning. Lower support is at 7510 so we may well see some support around the 7500 to 7525 level for a rise back to test the recent high at 7600. Above that then 7685 looks possible, but with the General Election on Thursday it will be some brave bulls to take us that high...

hilsdentrading

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

hilsdentrading

For today I am looking at Fridays resistance and the daily pivot at 7175 to hold as support on any initial dip and then a rise towards the 7248 level. I am thinking we will get a dip back from here towards 7200 before we get a bit more a bullish push up over the next week or so. Certainly for today those are the two levels that are of immediate interest. Below...

hilsdentrading

As I write this we are in a fairly steady bull trend since the start of the trading year, and with the bulls breaking and holding above 7200 on Friday, it’s holding up, despite looking toppy. The reason I say that is that we have a daily RSI reading of 85, and whilst this can remain overbought (or oversold) for a while, while the markets move higher or lower,...

hilsdentrading

We have the Fed rate decision later, expected rate rise to 0.75%. The FTSE will likely be fairly flat today, but has resistance at 7005 and 7030. 6975 which was the Hull 100 moving average on the 2 hour chart has capped the Tuesday bull run, though bulls will be keen to keep the momentum going with 6950 support. Below that then 6860 is daily support for the...