Sunday, 31 October 2010
Saturday, 30 October 2010
FTSE weekly swing/935 point ranges
On the weekly we had a red reversal bar that engulfed the previous week's range,so the top may be in -a lower low next week would turn the weekly trend chart down and add confirmation.Next week may be volatile in the US however,with election and Fed meeting so we cannot assume anything yet.I have marked in swing levels based on the previous 935 point range down .
On this chart we can see that the 935 point range (+/-20 pts) is a common range for the ftse
Gann square on IBM
144 is an important Gann cycle,being the square of 12. IBM found support at 72,half the square and has rallied 72 points,to 144,in 710 calendar days.In 10 more days price and time will be square (assuming price remains below 144) so COT may occur
S&P
someone in the CIL I use referred to this as 2 dunces' hats.............
Note doji on the weekly chart...
Note doji on the weekly chart...
Dow - 1 week behind the Ftse ?
The ftse100 chart (middle one) posted yesterday showed a wedge and channel overthrow and break backdown into the channel.The Dow has same overthrow but hasn't broken down yet.
Friday, 29 October 2010
Thursday, 28 October 2010
Wednesday, 27 October 2010
FTSE
This is chart at Tuesdays close.FTSE is currently trading below the 10x1 and parabolic SAR,we need to wait till the close for confirmation.FTSE led markets lower in April (although the "BP effect" may have been partly responsible
Japan
Tuesday, 26 October 2010
The 3rd ingredient ?
In my post on the Dow Jones on Saturday I said we had 2 of the ingredients for a reversal,time and price.On Monday a lot of markets posted dojis or inverted hammers (shooting stars),so it is possible that the 3rd ingredient ,pattern,may now be forming.Candlestick reversal patterns need to be confirmed with a lower close and of course we have more POMO days ahead of the mid-term elections so lets watch and see
Sunday, 24 October 2010
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