FTSE

kiss of death comment by me earlier .
looking at the chart on the weekly tells me the area to watch on the ftse100 is 6100.
This is the true level the ftse has to breach to be considered bullish.This level has some serious resistance attached to it so be very careful .

Im placing a short at 6100 with a 30 point stop during market hours only.This level is worth shorting at first attempt basis as its serious resistance area. If it finishes above 6100 then expect a big rally.
Id be very surprised if this can break this level on first contact



All this manipulation is messing my charts up.
its funny how the picture can change in a day.

ftse looks like it made a top???

for now i would not be placing any new longs for the time being .
I have seen a lot of shares approaching important support levels and some have already broken through during my scans.Theres quite a few approaching major trend lines as well.This is telling me to not place any new longs until the highs are taken out.
So be very careful out there if your thinking about buying shares in the new year.
You should wait for the 6000 to be cleared before taking the plunge.which aint that far away .
As for day traders there will always be some thing to trade based on very short term trading.

bear in mind that bull markets last between 3-5 years. so the odds are starting to favour a bear market soon. some thing to be aware of for share traders.
DYOR

could this be a top.
It looks like 2013 is going to start bearish.



dyor

Despite recent optimism I think the FTSE looks bearish. Here's the long term daily view:



dl.dropbox.com/u/20815047/FTSEdaily12_12_12.gif

Note how the test of 5932 resistance yesterday coincided with a test of the long term RSI downtrend going way back. This RSI downtrend has proved a reliable reversal point on numerous occasions and the fact that it remains intact while there is an apparent price breakout of the downtrend from 6104 suggests to me that the breakout could be false.

I'd start to get excited if the RSI breaks out but until then it's different strokes for different folks I guess!

I think so remo...i've made my target clear, enjoy the ride..

Ftse 100 is currently testing main resistance level.
If you look at the obv(on balance volume) its already broken out. So diverging nicely.

Is this an early indicator for a breakout????



DYOR