Ive been watching the markets closely for the past few days.Its risky going long currently as trend lines have been breaking. Thats one of the reasons why ive not given any new buy trades on the forums as ive noticed some of the share tips that i was looking to trade this week have been breaching the trend lines. If the markets are moving down then its risky trading of the trend lines. hence why i have not posted any new longs.
On the other hand im expecting a bounce from the ftse from its strong support level(6216) on a first attempt basis.If this level fails then look towards the 5900 level for nearest strong support.
This market is a short term traders market currently. this correction that we are having is healthy for the markets.

5 shares from the tips section bounced from the trend lines perfectly today. Its been one of those days for the brave. I only braved 3 of those shares. Thats the power of a trend line.If drawn correctly. How a day can change every thing in the stock market.Infact an hour changes things dont you love this market...The best buzz ever...

Theres a lot of charts testing or going through there trend lines. The share tips for this week has a few currently testing or going through there trend lines. Its a hard choice this week on the share tips. I find that when a share approaches a trend line it normally bounces but the indexs should not be correcting when this happens. So this week there is added risk.
When the indexs are correcting its best to stay on the sidelines unless your quick. even then its risky.

look for a 123 low set up on the index for a safer green light to start to buy shares again.if we finish below the trend line...the day is still young.

Id be careful with new longs for the time being as it looks like were in a correction phase.
The dow looks like its moving lower now so can mean more risk to the long side with equity.