FTSE is getting close to the first of two probable exits for longs...either continue to run with it using 1 minute chart and first minor higher low as exit around now and wait for a turn around either here or the lower level mentioned on comment
FTSE 100 is back on critical support for the medium term at 7250-7240. A fall below 7240 will tip this index into full-on bear mode
The Dax has broken our sell trigger at 12043. Now expect a fall to 11916 to start with, then to 11848 and lower as per comment
Dow Jones is approaching important resistance at 20662 and is therefore becoming vulnerable to selling pressure once more.
Nasdaq - despite being short from 5400-2 price action over the last 24 hours has effectively placed Nasdaq in a short-term neutral position - it turns positive in near term on a break above 5405 and negative again on a break below 5375 - and this next move will almost certainly be triggered by Facebook
Dow Global is approaching critical support again at 2648-6 with last-gasp support for this index at 2638. Should this level fail at any point this week this index should fall away to 2575 at least taking all major market indices with it in its wake.
Got to apologise for the last update which was like being caught in time-lapse. The numbers were inaccurate, you'll have spotted. WTF happenened with charts??? Right hand scale showed the price at 2345 when it was actually at 2342 ...if you know please get in touch
S and P is sticking at the highs at 2345 as this is being written...not what we wanted. Use stop as per update and watch now to see if we stick again at 2345 over next few minutes...if we do fail again here obviously we are topping here, not 2348
The Dow Global has made the shorter term rally expected of it and is now approaching resistance from the recent lows at 2665 where it should become vulnerable to another bout of selling. This should tie in with the Sand P hitting 2348, ideally, creating another short term selling opportunity back to the lows
Nasdaq looks likely to make a counter-trend rally to 5480-5 range and to 5400-2 at absolute best today before it falls prey to further selling. If you're wondering why this says SHORT and Sand P says LONG it's only long for the expected rally into the first 45 minutes of the open and then it's probably going to be time to close out and look for shorting...
S and P has found support at 2326 and is trying to bounce. It will, so long as Facebook does too on the open, as per last couple of sessions! But beware Facebook (and therefore markets) stalling after 30-45 minutes of the open if we do get the expected rally...more whipsaw in store. Better to be warned etc
Facebook has been bought up off near term support at current levels on the open only to hit overhead supply at 140.25 to 140.60 half an hour later. We could well get the same pattern today. We need to stay sharp and grab profits quickly again this week, as Sand P will be just as twitchy as it was last week in all likelihood. This stock is still moving in lock step...
Dax Index: This index has picked up suppport from a little short term trend line that's held up recent declines. It hasn't hit the downside target yet, but this support line could create a rally big enough to eat away profits, so am looking to close this short down early on Monday, hoping for a a little left over weakness from weekend to close out the short. Can...
Dow Global - we're short of this and quite a few major market indices going into the long weekend and looking for about 0.4% further downside on Sand P to 2322. Would like to trap in profits on all shorts looking for a near term bounce from 2638 at lowest on this index. There is support potential right here and up to 0.4% lower on this important but neglected...
GBP USD Sterling is building a base at 1.20 prior to rallying further
Dollar Index: Back to the Future or Forwards to the Past ? DXY This chart tells the story of how a beautiful girl just upped and dumped her handsome sports-mad beau of 8 years and took up with a brash money-obsessed upstart from out of town. And now she's having second thoughts
If you've been spring-cleaning your portfolio don't even think of throwing this one out yet, or even taking profits just yet
Dow: Just about to hit important support for this index. Any failure to hold 20400 at lowest next week will create another 360 point wave of selling back to 20140-20124