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.

only 11 points away!!!!

I went short on this at 6104 yesterday but bailed out at 6085. This looks really bullish to me now so I'm looking to go long targetting next resistance at 6377. Any other veiws?

I tend to agree, i 've had an interim target of around 6141-6171 area before xmas as per previous thread, i may need to re-adjust this target now

I think we are in an early state of minute 3 of int 3 of major 3 of 5.... well that what im counting it as..... will try n post up a chart later and some new targets.

I also see US indices making new highs very soon.

If this closes above 6106 today then I'm going to go long with a stop below the recent swing low at 6053. I know that's a wide stop for the FTSE but I think it's the right one. The alternative would be to wait for a backtest of the breakout from 6106 (assuming there is one). Here's a weekly chart showing the next major resistances at 6377 and the all-time high at 6754:



dl.dropbox.com/u/20815047/FTSEweekly10_01_13.gif

Again, note how the RSI downtrend which started off with the weekly bearish divergence at the 13th July 2007 6754 looks like it'll be broken this week. These are long term RSI trends so it could bode well for longs.

Thought you'd be on the case Sir!...my just for fun quick snapshot