We are pleased to announce that our ipad/iphone App is now available to download from the App Store (simply search for “Futurestechs”).
We would like to invite you (client or otherwise) to download the App.
We are running a 2 week Free Trial Period when you can look at all the reports (After that access will be limited to 1 “sample” report per day).
We would ask that you pass this e-mail on to any friends or colleagues who you think may be interested.
Also any reviews of the App would be most helpful and appreciated, so if you like it please take the time to add a review to the App store.
As you can see from the screen grabs below (click on them for a full size view) the reports look really good on the ipad and, thanks to our friends at wordflow, navigating around the App and finding the reports you want is really easy.
Anyone who decides to subscribe will also be given free access to our Website Member’s Area (in case the kids are hogging the ipad!!) where all the reports are also posted daily.
The last few days have seen some big swings either way in Equity markets.
“Where next?” I hear you ask! Our chief market analyst Clive Lambert was on CNBC last night trying to pick the bones out of this price action, looking at the S&P 500 Futures, FTSE Futures, and suggesting Fresnillo as a Stock to buy.
Below is the Comment and Chart from today’s FuturesTechs report. As well as this we provide Support and Resistance levels from our own analysis, as well as “Automated” levels referencing Market Profile, Pivot Points and Moving Averages.
If you would like a free trial of our daily technical analysis reports please click on one of the links below:
“Professional Trial”, for Traders, Fund Managers, Brokers etc click HERE.
“Website Membership” for Individual traders, suitable if you’re Spread Betting or trading CFDs click HERE.
From yesterday: “Backing either camp is proving difficult in this volatile environment so our Skew turns neutral’
Sideways consolidation at multi month highs remains the story, albeit in a volatile environment. The dip below the previous days low found buyers at 1328.75 who rallied the market up to 1348.75, the previous breakdown level, on good volume.
Yesterdays low validates an up trend line from the low on the 14th March. Today this trend line provides support at 1330.50. Yesterdays downside rejection in conjunction with the validation of the up trend line means our Skew switches to tentatively bullish above 1330.50.
We’ve been asking 1131.50 to do a job as support and in the main it’s obliged.
The couple of times we haven’t held this level, yesterday being one, we’ve got down to 1127 before bouncing neatly.
We get the hint. We’ll be bulls above 1127, moving our green SkewBar area down to here.
But the market has been going sideways for a while now, and we want to see a move through 1153.50 sooner rather than later please.
We can then look for 1174.75, then 1200, then 1216.75, the latter being the YTD high from late April.
______________
Below are Support (S1 to S7) and Resistance (R1 to R7) levels. On our daily reports we also include a chart, and our unique “SkewBar” giving you an instant snapshort of the current short term trend.
Our daily analysis is read by Prop traders, Brokers and Fund Managers. Please request a Free Trial of our service if you wish.
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 bears had the better of things yesterday as we sold off from 1134.50 to 1117.50 in European trade. When the day session kicked into life we caught a bid for a while, trading up to 1132.25 before a Shooting Star on many of the shorter term charts (15, 30 and 60 minute) put the kybosh on the bulls fun and gave us a reversal that saw us back 1117.
1117 was a bold support, and is at S2 today as we continue to hold above here. I have now made it my “trend change” level and the level that signals a down-leg in the making.
There are other bold supports to see off if/when 1117 is breached though. 1113.50 is the widely watched (but much maligned by me) 200 day moving average. 1103.50 is the 38.2% Fibonacci retracement of the September rally.
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.
In Brief: All I keep hearing at the moment is how we will have a 10% correction, so, let’s have a look:
The “funnymentalist” community, particularly Stateside, seem pretty happy with the idea that this pullback will be a “normal” affair and will pull back 10% from the January highs, at which point you can happily pile in, buy the dip, and carry on where we left off…
I thought it would be useful to know where this level is on the markets we watch. So here goes, and we’re looking at the Cash Indexes here, NOT the Futures:
Dow: High was 10730. 10% pullback level is 9657 (currently 10023)
S&P 500: High was 1150, pullback level is 1035 (at 1065 right now)
NASDAQ: High was 1897, pullback level is 1707 (1743 now)
DAX: 6094 was the January high, 10% off that is 5485. BROKEN
FTSE: 5600 high, 5040 is 10% pullback. 5033 was last week’s low, so holding…
Eurostoxx: Pulled back from 3044. 10% back from here is 2740. BROKEN
CAC: high was 4088, so 10% back from there is 3680, BROKEN.
So to summarise, if anyone stateside says to you about 10% pullbacks the simple thing to say is “thanks, but we’re already beyond that!”… especially if/when the FTSE breaks 5030-40.
Clive has recently started a weekly slot on CNBC, where he’ll be explaining concepts in technical analysis and reviewing the current state of play in the markets. Tune in on Thursdays from around 6:30am, or check our archives.
Here is today’s appearance, discussing Marabuzo lines in the context of what’s been happening recently with the FTSE, S&P 500, Bund and Brent.
We are watching these markets very carefully right now as there is a confluence of events that suggest things may be changing. We don;t often start talking the funny-mentals, and we don’t often worry about relationships between markets, however close they may be. But I’m going to make an exception in this instance.
Price action in Oil is probably tantamount to the whole thing. Western economies are on the brink of recession, triggered by the Credit Crunch, but exacerbated by the soaring price of Oil. The Central Banks are meant to raise rates in response to rising inflation, but the current rise in inflation is nothing to do with people over-spending. Far from it. If Central Banks raise rates on this basis it will be disastrous.
We need Food and Energy prices to come down to take the inflationary pressure off.
So now we turn to our charts:
Just looking at the contracts we cover here at FuturesTechs we see the following:
Corn is well off it’s highs. We topped out at 799.2 in June. As I write this we’re trading 625. Pressure off.
Wheat’s all time high was set back in February. The recent high/failure was bang on a Fibonacci retracement level. So that’s going down as well.
Soybeans only topped out in early July and so far haven’t taken out any really big supports on the way back down, although price action in recent days has totally favoured the Bears.
Brent Crude Oil has dropped from a high of $147.50 on July 11th to 129.66 on Friday. We have posted a “Three Black Crows” Candlestick reversal pattern; a significant reversal. That was last Tuesday, Wednesday and Thursday (15th, 16th, 17th July). On Friday (18th July) and so far today (21st July) price action has favoured the Bears (Dolly could spoil the party, though).
So Ags are well off their highs and Oil has had a reaction lower that’s like nothing we’ve ever seen before. At the same time Bond prices are selling off hard (the “flight to quality” trade unwinding) and Equities are staging a recovery.
Most are calling this a “Dead Cat Bounce” (a rally in a Bear market that doesn’t last long!), but when you factor in everything else we’ve just highlighted you start to at least ponder this: Is the worst of the bad news over? Are we “all done” with this sell-off? One thing that favours this is the negativity of the popular press. You know things are about to turn when you can’t find a single bit of good news in the press, and I put the business pages down yesterday morning because it was putting me off my breakfast!!
Technical Analysis: Market Commentary and Training. For a free trial of our services, please click here. For automatic updates, subscribe to our blog feed and Twitter updates.
