FTSE 100

Not trading this, but watch 6250 on the FTSE....
That level goes, this is getting dumped hard, down around 6000 again imho...

Approaching trendline resistance (again) on the daily. The fact that it didn't test last time weakens the outlook IMO. Might see a double top Mon/Tues before a retrace!? I think this (surprise) short term bull move is almost done.





Hanging man on weekly





Let' see how the week progresses

F4T

uk.advfn.com/p.php?pid=chartscreenshotsh...symbol=DJI%5EI%5CDJI

Looks like the FTSE 100 has put in a 123 low along the the Dax just need to Dow and S & P 500 to follow suit ... I expect a pullback first but I guess if we don't shoot below that number 2 low on FTSE then it's backup we go IMO ...

Remo what's your current view on the markets ?

Can't attached any charts at the mo ...

careful with longs imho... could well be be big bull trap in play atm...

uk.advfn.com/p.php?pid=chartscreenshotsh...FoAu4=&symbol=FT^UKX

Could well also be a false pattern, so lets see...
Tbh i don't like the look any of action on indices from mid Aug.... looks like a suckers rally to me...

Regards,
Trendfriend.

Well, rather than a breakdown we had a strong breakout and potential double bottom.

Rise stalled at MA50 yesterday. ~6500 needed to break the downtrend which is still in play.

Resistance 6430 then 6500
Support 5899 then 5768

I am still on the bear side medium term as too many headwinds (China/Commodities/Syria/Fed). Let's see what earnings season brings in this highly unpredictable and volatile market.

F4T