After a bounce around the 61.8% Fib area, FRR has found resistance in the strong 1.03 area which has proved problematic in the recent past from previous price resistance and also the backtest of the short term trendine break.It needs to break back above that short term trendline soon in order to have any chance of continuing upward and even then there's the tough resistance shown by the circled area where a clear sell signal was given in the form of an exhaustion gap up, a bearish day and then a gap down the following day. It's actually similar to the pattern GKP formed at 450 but with the added gap down on the following day.For now, though, the SP and RSI are both in No-Man's-Land. Given the reaction to 1.03p, I'd expect at least another test of the lower trendline and it may even return to fill the gap...

Today was a huge day in the FTSE breezing past two levels of resistance in one go and maintaining those breakout be close of day.There is often a drop to 50% of the way down a large marubozu like this but sometimes the market is so bullish it just keeps on going. The US was closed today so there may be some catching up do do Stateside. We'll just have to wait and see but the bulls are firmly in control of this currently. Original link...

FTSE formed a continuation doji yesterday with a perfect backtest of the previous breakout point at 6476. Clearly, this has followed through in overnight future following the FOMC minutes and Bernanke's speech. Should eventually continue on to new highs from here but expect volatility. Original link...

The S&P completes a trio of daily dojis and this one didn't even quite manage to test the breakout. As with Dow and FTSE, expect some volatility before a brief new high followed bu a correction to just abov Original link...

This finally hit my target of 42p today although the Fib sequence had to be moved after the false breakout. In fact, this made today's support stronger as it was the breakout and the re-defined 61.8% Fib so it should be worth a long from here with a tight stop below 40p.I do have concerns over this though. The RSI has broken down and the overall pattern up from 24p area could be seen as a big correction upward.In any event, it's always wise to take some risk off at first  Original link...