FTSE 100 Sentiment MarkerA key price has presented itself over the last few months. Much can be gauged from it
FTSE 100 Index
Interesting Stock Index Comparison - NASDAQ Sores!Here's an interesting stock index comparison. Notable NASDAQ is the out-performer amongst this group of indices.
On Friday the NASDAQ printed it's all time record highs closing the day at 10,836. Last week this index smashed through the 10,000 handle completely disregarding it for any level of psychological resistance.
Meanwhile the COVID19 reported another record high of +71,787 new cases in America on Friday.
FTSE 100 (UKX) - Testing 4-month old Rising TrendlineThe FTSE 100 is testing a rising trendline - often a high R:R entry point.
A break would be a strong signal the uptrend has ended
FTSE testing trend lineFTSE failed to break resistance zone and sold lower. Now approaching support at the trend line, 200SMA and 6000 level. A break lower would trigger a sell to lower levels.
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UKX : Swing, 100% Price ActionUKX : Follow the uptrend.
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FTSE trade planPrice showed a break of the consolidating triangle. Now at resistance, previously confirmed. Wait for the break to buy to the next level of 6500.
As more of UK businesses reopen, stock market is expected to be bullish.
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MarketMarket EA is an expert Terminal analysing the market trends base ukx symbol.This reflect a cross terminal symbol across all pounds/major and minor currency.
The Market EA symbol Ranges from symbol pair mentioned aboved through all platform to give the Trends on various platform.
The Market EA published shows the ukx crossing the 66xx.x on the trends.
🤔Can Boris & Rishi save the FTSE? Here's when to go long/shortThe biggest level on the FTSE100 charts is the 6,000 support, on the 4 hour, daily and weekly level this is an area of support.
What does it mean if support is shown on a number of time-frames? It means everyone trading the FTSE100 has the 6k level on their charts, it's also a psychological level.
The 6k level was tested 3 times in June, each time bouncing back, most likely trapping shorts who entered trades too early.
The 6,500 level is weekly resistance, it tested it once and got rejected pretty hard.
There are 3 cases for the FTSE100 going into July, I’ll start from bullish to bearish:
Bull case (green line) – for me to to go long on the FTSE100, I’d like to see a clear break of the 6,500 level, and on any re-test of the 6,500 I’d be looking at long positions.
Neutral case (blue line) – FTSE carries on consolidating between the 6,500-6,000 range.
Bear case (white line ) – FTSE clearly breaks 6,000 support and re-tests it’s lows.
Whether we move up down or sideways will depend on what type of recover we get in the UK, so far things do not look good and I'd lean towards a break of the 6,000 level before we break-through the 6,500 level.
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FTSE consolidation endingA triangle price pattern and RSI near 50 shows that daily FTSE is entering the final stages of consolidation. this means we shall soon see the next big candle move from the market.
On the fundamental side things are looking bearish as virus cases spike again and IMF and Central Banks are being very negative regarding the economic recovery.
The contrarian point is that potential stimulus, even more of it, could boost the stocks to keep indices from falling.
In UK Boris Johnson said today that next week the Economy Phase 12 plan will be rolled out. He actually said the same thing in his May's speech, so I am not having much faith here.
Many cities across the globe, including the UK, are starting to close again because of the virus spikes, so markets are very cautious and more on the bearish side.
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$UKX Hourly - Worth a small long, stop at mornings lows Lovely bounce and hold off support. Potentially a false break lower out of broadening formation. Worth a small long with a stop set at this mornings lows
$UKX Hourly - Up against resistance on price and RSI. Waiting Through here targets 6310, otherwise back to down to 6060
Take your pick FTSETake your pick whales..
It is very likely, almost certain, that this rising wedge will just break down and momentum will carry the price upwards eventually.
Could be interpreted as a bull flag, hence i have placed a flagpole
Literally a neutral position
$UKX Hourly - Keep an eye on 6130 for gap close/re-test Broadening formation has broken down with lower targets. But we are on lateral support here and RSI very oversold. There is a gap I would ideally liked closed at 6130 before we head lower. Decent RR
$UKX Hourly - Broadening formationAfter this morning's sell-off we now have a confirmed broadening formation. This can be bullish or bearish, BUT confirms the indecision/volatility we have seen recently. We are also on the lateral grey support area. Can take a sneaky long here to play the range with a relatively tight stop. Keep an eye on the wedge that is still in play .
$UKX Hourly - Good RR levels for a short at 6330- tight stop Double overhead resistance, and bearish RSI divergence. Can place tight stop. Good RR
$UKX Hourly - Bullish hidden divergence Wedge has broken to the downside, BUT bullish hidden divergence has developed. Higher highs and lower lows are still in place and we could still be in the process of building the handle to a bullish C&H pattern. Developments are changing daily. Keeping positions small, following the trend of the day, and sticking to my SLs
$UKX Hourly - Second rising wedge keeping things interesting Bearish second rising wedge keeping things interesting
$UKX Hourly Potential bullish C&H/bull flag -waiting on sidelineThe potential RHS of a larger H&S pattern we identified earlier this week is potentially changing into a bullish C&H pattern or a bull flag. The indecision between two conflicting patterns makes me feel uncomfortable so I will wait for further developments before getting involved. Last couple of days have been low vol days which usually precede larger moves. Maintaining capital is key
FTSE trade outlookAfter Monday's retracement indices have been ranging with no real momentum.
Resistance of the range is 61.8% and good support zone (green) with 50SMA and 200SMA.
Break of either and close opens new target levels.
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FTSE trade planPrice continues to test 61.8%, a good break above and close is a signal for to buy and target further upside.
Please support the idea and share your thoughts on FTSE!
Good Luck and Stay Healthy!
$UKX Hourly - RSI divergence forming, start of LHS?Been patiently waiting for the LHS to form. Can pre-empt based on RSI divergence with a tight stop just above 6300, or wait for confirmation by break of NL. I am keeping an eye on the 20SMA - not ideal that it is pointing upward.
FTSE 100 doesn't appear to getting a v-shape recovery Over the last few days the FTSE has been ranging between 6,500-6,000.
Monument (RSI) looks mild, and the 9 day average is right in the middle of the candle.
The FTSE has jumped is above the bearish support which is a good sign, but it's too early to know if it's a fakeout or a breakout.
This market is going to need some good news to break above the 6,500 range, maybe that will be provided by the Bank of England tomorrow, or the politicians by announcing some new job scheme.
What is clear in the charts is that the UK is not currently pricing in a V shape recovery, prices are way off their all time highs with price consolidating.
BP, BA, Land Rover and many other UK firms have announced huge job cuts, the current about of job variances are at record lows, all bad long-term signs for the UK economy and the FTSE100.
The markets need stimulus from central banks and politicians, maybe they will get that later this week, otherwise there could be more pain to come in the coming weeks.
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