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Weather outlook for the FTSE

Reading price charts which may give you direction in the market using established TA methodology
DiamondEcho
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Re: Weather outlook for the FTSE

#54279

Postby DiamondEcho » May 16th, 2017, 3:50 pm

Interesting point Fred, and you're right, the sounds of celebration from 'Sid+Doris' are rather deafening in their absence. Right now the FTSE-100 is on track for it's 3rd straight record close, in yester-year would have been the front page story in the likes of the Evening Standard. Look at the website this pm and it doesn't appear to get any mention amongst the scores of headlines, not even under the Business section headlines. That's odd!
http://www.standard.co.uk/

DiamondEcho
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Re: Weather outlook for the FTSE

#56113

Postby DiamondEcho » May 26th, 2017, 9:42 am

According to FXEmpire the first resistance level to the upside today is 7535, then 7550 and 7600.

'And lo it came to pass' with the index peaking so far at 9.06am intra-day at 7534.97 [Yahoo/Finance]. So it hesitated like a horse before I high jump, and right now is mustering it's courage. Of note though is that is a 'higher higher', a new intra-day record for the index.
Maybe it'll find it's own resolve to break-out above 7535, or perhaps as seems to happen on Friday's it's going to wait and see how Wall Street opens before deciding if it has the confidence to advance further...

DiamondEcho
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Re: Weather outlook for the FTSE

#56419

Postby DiamondEcho » May 28th, 2017, 10:46 am

Friday was an interesting day. I'd usually expect a Friday to tend towards de-risking. Especially before a long weekend, and perhaps even more so when it's also a long w/e for US markets...
FTSE-100 (UKX) intra-day high 7554.21, close 7547.63
FTSE-250 (MCX) intra-day hi 20050.68, close 20024.92
...yet instead all four^ figures are new records. Also UKX took out (intra-day) the 7550 Resistance level. That can grease the tracks for it being re-taken and built upon.

I use marketwatch.com if I'm quickly checking global markets and associated headlines, esp. pre-open in London. Very quick/simple and unlike some other sites (digitallook) I trust the data. I just noticed that you can drill down into the main indices and get very clear figures on one page for daily open/hi/lo/close and so on. Click on the Advanced Charting button (above the price chart graphic) and you can create your own T-A charts...
UKX http://www.marketwatch.com/investing/in ... trycode=uk
MCX http://www.marketwatch.com/investing/In ... tryCode=UK
They also have indices data from maaany other countries, and by no means just the 'majors'...

DiamondEcho
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Re: Weather outlook for the FTSE

#56881

Postby DiamondEcho » May 31st, 2017, 12:53 pm

It's got a new intra-day high in the bag.
IG suggest it'll be a 'confirmation of the uptrend' if it can get a Closed Hourly Candle above 7,556. Well, it breached that (per Yahoo https://uk.finance.yahoo.com/chart/^FTSE ) at 12.18hrs and is now nudging xx75. So about another 1/2hr to go... 8-) + fingers-crossed

ps. The link breaks at the '^'. Copy/paste the URL whole and it'll work

Correction: Increasing the granularity of the candles I now see that at 12.18 it nudged down to just above xx56. But in fact it broke above and has held that level since precisely 12.00 noon per one-minute candles. And now up through xx80 8-) 7600 here we come?

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Re: Weather outlook for the FTSE

#56889

Postby Breelander » May 31st, 2017, 1:25 pm

DiamondEcho wrote:...per Yahoo https://uk.finance.yahoo.com/chart/^FTSE
ps. The link breaks at the '^'. Copy/paste the URL whole and it'll work


Couple of ways round that. Replace the ^ with %5E yourself, or use the http://lemonfoolfinancialsoftware.weebl ... ormat.html tool to do the same thing.

https://uk.finance.yahoo.com/chart/%5EFTSE

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Re: Weather outlook for the FTSE

#57059

Postby DiamondEcho » June 1st, 2017, 10:59 am

Thanks Bree and noted.

Just popped in to mention that Friday was a record intra-day (20,050.68) and closing (20,024.92) high on the FTSE-250.
ChartsToday noted this morning that 'a new high activates an upside target of 5% at 21,000'.

Well, we got a new intra-day high and record at c20,057 at c8.48am. Alas it seems the index decided to give it all back and some more. But on the bright side the upside target remains activated none the less.

Update, 5-mins after^/ I think I've got it. The index gapped higher on the open. And what's just happened is it has retraced all the way to fill the gap. That having been done it's now resuming to the upside.

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Re: Weather outlook for the FTSE

#57435

Postby DiamondEcho » June 3rd, 2017, 8:43 am

Record intra-day highs on both FTSE indices + record closes on Dow/S+P/Nasdaq.
Since I have it open here is FXEmpire's daily for Monday June 5th https://www.fxempire.com/forecasts/arti ... sis-412012 check out the uptrend channel :)
Here the weekly: https://www.fxempire.com/forecasts/arti ... sis-412063

p.s FTSE-100 Zero change on week, closing at precisely it's record high from previous Friday at 7,547.63 - unusual!

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Re: Weather outlook for the FTSE

#58597

Postby DiamondEcho » June 8th, 2017, 11:50 am

Had to remind myself it's one of the bigger 'Ex-div Thursdays' of late. Apparently (Reuters) that accounts for -11.7 off the FTSE-100 today.

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Re: Weather outlook for the FTSE

#59101

Postby DiamondEcho » June 10th, 2017, 9:33 am

...since I have them open here are the FXEmpire TAs for Monday and for next week as a whole.
https://www.fxempire.com/forecasts/arti ... sis-413477
https://www.fxempire.com/forecasts/arti ... sis-413529

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Re: Weather outlook for the FTSE

#60991

Postby DiamondEcho » June 18th, 2017, 7:39 pm


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Re: Weather outlook for the FTSE

#61157

Postby DiamondEcho » June 19th, 2017, 2:50 pm


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Re: Weather outlook for the FTSE

#66635

Postby DiamondEcho » July 12th, 2017, 11:10 am

Today from IG: https://www.ig.com/uk/indices-news/2017 ... -dow-39031

And from the above here's the next hurdle to the upside: 'Should we post an hourly close above 7392, then this could point towards a breakout in play.'

We broke 7392 at 10.47am. Can it hold it for another 38 minutes? Hmmm... something of a 'Are you feeling lucky?' moment.

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Re: Weather outlook for the FTSE

#66649

Postby DiamondEcho » July 12th, 2017, 11:42 am

This is a nice chart, it illustrates how we've been range-bound during July. And also how relatively narrow the scope currently is on both the up and down-side for a longer-term break-out.
https://www.dailyfx.com/forex/technical ... Rtech.html

Index dipped below xx92 at 11.40am. So no Closed Hourly Candle this morning, it managed 53 minutes :roll:

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Re: Weather outlook for the FTSE

#67542

Postby Jonetc15 » July 15th, 2017, 4:45 pm

The range-bound state of the index suggests to me cause for concern for two reasons. First, it has lasted a considerable time, which may mean that the eventual break-out will involve a substantial move. Second, it's difficult for me to see scope for more upside, which in turn makes me feel very cautious.

Jon

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Re: Weather outlook for the FTSE

#67554

Postby DiamondEcho » July 15th, 2017, 5:44 pm

FTSE-100 +0.5% over the last 6 months vs S+P500 +8.1%. I think there'll be a +ve break-out in due course, and that's precisely why I'm holding off selling anything until...? later this year. First we just need to start fording the walls of Doomageddon Bull$ coming out of the EU.

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Re: Weather outlook for the FTSE

#82918

Postby DiamondEcho » September 23rd, 2017, 10:26 am

Since I have them open I'll post the links...
Nice to see he's, on balance, strikingly optimistic this weekend.
As usual, note the articles are transcribed by voice>text software and you can get some puzzling typos. If you've time to run the embedded audio-visual walk-throughs it will clarify any that you can't figure out. I also find the latter can be useful anyway, as he can mention something in the AV that isn't in the text, and his tone of voice conveys an added layer of emphasis.

Daily 25-Sep, and weekly for next week (which usually also includes the horizon further ahead).
https://www.fxempire.com/forecasts/arti ... sis-439022
https://www.fxempire.com/forecasts/arti ... sis-439074

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Re: Weather outlook for the FTSE

#87738

Postby DiamondEcho » October 12th, 2017, 5:21 pm

IG this morning had 7553 as a pivotal Resistance level, having been the August high, the index closed at 7556.24. But then again tomorrow is usually 'risk-off Friday', especially in these nervy times, so I wonder if it can held through tomorrow close. I suspect the US and Asia overnight will set the tone for the FTSE open tomorrow... fingers crossed.

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Re: Weather outlook for the FTSE

#90089

Postby DiamondEcho » October 23rd, 2017, 12:44 pm

http://www.iii.co.uk/articles/453931/ft ... roper-move
'FTSE 100: It's next 'proper' move
FTSE this week (FTSE:UKX)'

Weekly TA outlook from iii. It incorporated this interesting observation re: opening gaps.

'We hate spikes upward at the open of trade as generally they presage a wasted day. Essentially, it feels like the market indulges all the work for the day during the first few seconds, then leaves everyone hanging. Our argument remains - if an upward spike at the open is not bettered within the first 90 minutes, why not go do something else. Also, the converse remains true - if a downward spike occurs at the open, perhaps some excitement is planned for the day.'

----------------------------
IG still noting a resistance zone formed last week around 7550, with a close above 7560 needed to get free of it.
7483 = first support level being the prior week low from Thursday.

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Re: Weather outlook for the FTSE

#91999

Postby DiamondEcho » October 31st, 2017, 9:56 am

From today's TA at IG
'The ability to break through these points of resistance will tell us a lot about the ability of the index to continue pushing upwards. An hourly close above these points[*] would go a long way to proving that the recent downside is set to reverse. Ultimately, a break above 7520 would be the key bullish indicator to negate the recent downtrend.'
https://www.ig.com/uk/indices-news/2017 ... -dow-40466

[*] To summarise the highest of them was 7510 - and it got the Closed Hourly Candle above at 9.50am. It'd be nice to get the break-out above 7520 but with the Fed this evening and the BOE tomorrow I'll not be holding my breath.

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Re: Weather outlook for the FTSE

#94852

Postby DiamondEcho » November 11th, 2017, 7:08 am



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