The Dow found support at the intermediate uptrend channel last night but if this wave count is correct then it ought to break through that trendline towards the 38.2% Fib level at around 14534.As long as the trendline holds then higher price could follow.Note the support from the subwave 4 low at 14444 - that should not get broken by this correction even if the channel gets broken. Original link...

The FTSE 100 could be headed towards the trendline up from Nov lows which is at 6412 where there is additional price support.I'm not sure if this area will ultimately hold if the Dow drops to the 14534 area, but it should be good to go long here with tight-ish stops for a day trade. This trendline level will rise slightly each day. Original link...

LLOY formed another inside bar yesterday. The normal way to trade these is to go short on a break of the low with a stop above the high of the covering bar (61.89p and 63.02p in this case) or long on a break above the high with a stop below the low of the covering candle (62.62p and 61.42p respectively).63.8p remains the key upside level to break. Original link...

San Leon appears to be playing out exactly as expected with a nice 3 wave move down from the recent peak forming.I'm looking to see if the 61.8% Fib holds at 6p. For me, if it does, that would confirm the likelihood of a new trend in play and should signal a decent move up.Note how the old downtrend is still providing support. Original link...

Petroceltic's last rise to 7.37p hit the downtrend resistance perfectly and has since dropped back to the key 6p support level. This has proved a good level to buy at in the past and the medium term uptrend support is in the same area now so should be good to go long here with tight stops.The main uptrend lies some distance away at 5.1p currently which is pretty close to the JUne 2012 low of 5.46p. If the 6p level and trendline break then I'd expect a visit back to that 5.4p area. Original link...