Sell Intu PropertiesIntu has under performed the FTSE and the Real Estate sector over the past 3 months. The short term trend is negative and the stock scores poorly in my fundamental model.
FTSE
Buy Wood Group (John) PLC (WG.)Wood Group has made new highs on a price and relative basis. The shares have outperformed the FTSE100 index by over 10% in the last 3 months. I expect the shares to reach the previous highs at 920p
FTSE US index Daily Update (17 Oct 2016)Similar to other indexes, this index is in exhaustion phase IMO. Weakness is found.
If 7000 is proven to be resistance, this index shall go lower... and lower..
Trade Safe,
s0nic
Testing X of weekly bearish BatThe sharp decline in GBPUSD sent UK100 to previous record high and the price now is testing the bottom of a weekly channel in addition to the X point level.
Interesting price zone to monitor for potential reversal patterns with weekly double top scenario
Prefer to wait for shorts at higher levels. FTSEIt's a bigger setup, one can stay long till 81xx. But I prefer to short at after 81xx (marked on the chart)
UK index (FTSE) Daily Update (13 Oct 2016)I can't help but notice the possible topping pattern on this index.
We can have a nice low risk short..
Trade Safe
s0nic
FTSE Oct'16 - ShortReady to push to a new all time high? Maybe.
Otherwise its worth looking for short set ups.
FTSE UK Index Daily Update (30 Sept 2016)A nice Short Set up "may" be forming on this index. I will be on the SHORT bias as long as it is below 6962 level..
If it goes in my way, first resistant will be 6800 area and further 6680 area.
Trade Safe.
s0nic
FTSE 100 at 6930 resistanceFTSE index has restored its upward move, however in short term looking for the initial test of 6830 support area before next leg up.
FTSE - Two ways for the FTSE?FTSE for the next couple of days - though my opinion would back the shorts even in this bullish scenario
FTSE 100 still is a downward channelthis channel contains an Elliott wave in five waves and the recent high is the top of wave 4. If however wave 4 takes the shape of a triangle, the recent high is wave (a) inside wave 4. In this scenario the FTSE will bounce back to the upper line as the current decline is wave (b) and the bounce will be wave (c). A break above the upper line ans above 6765 would be bullish as this would imply a trend reversal.
Daily Outside Bar just below the PRZ of a Gartley The German DAX continues to consolidate just below the PRZ of weekly bearish Gartley pattern.
Today, after Draghi's ECB press conference, the German Index formed a daily Outside Bar that will be triggered if the price will decline below 10,600
For now, the Fast MA line (in yellow) continues to play its support role and drives the price higher every time it touches it.
When it'll fail, it'll be the trigger for a pullback towards 10,000 again (with 10,350-10,400 as mid Target) to test the strong weekly support there.
FTSE 100 Medium Term Short: Divergence, BB, Missed PivotsThe FTSE 100 is trading near 6950, up more than 1200 points from the post-Brexit low of 5727.
Fundamentally, this is because of the sharp fall in Sterling.
However, technically, the FTSE 100 may be due for a correction.
It has relentlessly traded upwards, however:
1) There is strong resistance to be expected at 7000, a psychological round number.
2) There is divergence on the 4H chart at 6950.
3) The FTSE 100 has traded outside its 800-period BB on the 4H chart for more than 2 weeks.
4) There are multiple missed pivots, monthly and weekly, amidst the FTSE's post-Brexit rally.
This might suggest that we are due for a correction in the medium term, perhaps to the 6700 level.
If Sterling recovers, the correction may extend to 6300. However this is unlikely given a dovish BoE, quantitative easing and the market pricing in further interest rate cuts.
FTSE 100 6780 -> 6570Daily close below support level 6780 confirms short opportunity on FTSE 100 targeting 38.2% Fib retracement level at 6570.
FTSE 100 6860 -> 6570FTSE 100 is retracing from the 6780 support zone.
Consider reentering short from 6860 targeting channel breakout and further decline down to 6570.
7000 will be key weekly resistance zone for the FTSEAs "Brexit" vote didn't even happen, the UK index FTSE reached almost 2015's highs without even stopping at the 200 weeks MA line that should have acted as some sort of resistance... and failed.
Now, near 7000, the FTSE completes a bearish Bat pattern (weekly) and also testing the bottom of a trading channel that held the price in it throughout most of 2013-2014.
Interesting potential Sell Zone for the FTSE near 7000
See more details in this video - www.youtube.com
FTSE If the current high on the FTSE holds, i will be anticipating a 61.8% re-tracement (from the last area of supply and demand to the current high) this 61.8% also coincides with a daily breaker
FTSE 6870 -> 6700Short entry below 6870, stop 6960, target 6700 (23.6% Fib retracement area or lower channel's range value).
