FTSE

i mention again - divergences, again it failed and got blown out of the water, divergences must be confirmed and it's dangerous preempting a trade on just a div.

in yesterdays example of ftse ...that - div would have confirmed on a break below 50/55, & once that wedge got broken, well it traded within it & broke to the upside and remains abv the key number of 72

in the meantime, again i note 72 key.... and its' holding that level once it ripped through and closed abv it eod.,todays open it backtested that area and again held twice so far.

so for today providing 72 holds ftse cannot go lower and can target (providing it cant take out 88) 6615/20+, if it breaks down below 72> (Ref yesterday 4hr candle @ 1200)then 55/44/35 zone... if you look at the charts when ftse broke abv 35 there was very little resistance with a (55 being a pivot in between) and headed towards the 72 zone, the same applies on the way down.

6378 > 6391 > *6412 > 6422 > 6467/77 > *6486* > 6505 > 6535* >6572 > 6615 > 6720 for now.

as for the spx, it closed abv 1628 yesterday.... key watch will be the action at 34/36 ( futures hit 34 @ 1am this am) break abv then watch it rip up to 1646 >58 > 1668.....

as the market moved higher the pullback will also move up a level so 1st 1614/25 > 2nd 1604/98 will now act as support.

rgds WS

if 72 break down then yes ! until then ftse will remain up.

Ocean10 wrote: Is the 5 min chart going to give us an early indication of retracement/downside ????

www.dropbox.com/s/kb6ky02131wekjs/FTSE%2...0-%205m%209.5.13.gif

Looking like one beautiful flat

Divergence on 1 hr chart, will that hold???

www.dropbox.com/s/e12ay2xpb6elkf7/FTSE%2...%201hr%2010.5.13.png

this markets parabola - bull got 5 legs.... the 5th leg is fueled with Testosterone...

should pullback - break of 94/95 then your divi kicks in.

6615 >6594 > 6572 > 55 > 35