FuturesTechs Blog

Yesterday’s low was 1135.50, which was more or less a hold of our S1 support at 1136.50, and was most definitely a hold of our first bold support at 1131.75.

We are still bullish then, and still hoping that 1150 will be taken out soon to see the market getting over this current bout of nerves.
Once through 1140 we can gun for 1174.75, the highest print we’ve seen in this one since May’s “flash crash”.

Below are today’s support and resistance levels, the importnat ones in bold type.

R7  - 1166.25

R6  - 1159.50

R5  - 1153.75

R4  - 1149.75

R3  - 1146.75

R2  - 1144.50

R1  - 1141.25

S1  - 1136.50

S2  - 1134

S3  - 1131.75

S4  - 1127.25

S5  - 1120.75

S6  - 1117.25

S7  - 1114.25

For our full report, including Automated levels, Chart, and our unique “SkewBar”, clearly defining the current trend, please ask for a Free Trial using the buttons above.

The market looked damp right from the start yesterday, in fact even before the FTSE had opened the DAX and Stoxx had failed to hold gaps that they’d created with strong opens, so you could argue that the bulls had lost control of the impetus even before the FTSE opened.

But it never felt like it was going to be a big nasty down day, and sure enough we only sold off to 5545. We had bold support at 5548 as this is the Marabuzo line of the large green candle that we posted on Friday. So this has held, but may come under pressure again today.

We turn bearish below 5435; last week’s low.

We think the market is edgy and nervous for now. There is lots of volatility but little firm direction, which is the sort of thing one often sees at turning points.

Below are today’s support and resistance levels worthy of note.

Thought you might like to know we won the “Best Fixed Income Research and Strategy” category at this year’s Technical Analyst Awards.

The dinner was at the Sheraton Park Lane last Thursday, and I can assure you I almost fell off my chair when it was announced!

We were up against some strong competition including RBS and UBS, so it was good to see that a little firm from Southend can impress!!

I didn’t get the chance to do a speech, which was a good job really, so can I now publicly thank Graham and all the guys and girls here for all their hard work.

A nice way to celebrate our recent anniversary of 10 years in business!

To all of our customers we would like to thank you all for your continued support.

If you’re not a client and wish to have a trial of our analysis please click here register your interest.

Cheers,

Clive.

http://www.technicalanalyst.co.uk/conferences/Awards10.htm