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Sp, require s to close above 356.70, to cause a bullish pivot break . RSI, is near, 50, and a cross above 50, would give extra validation to a bullish break upwards .
Sp, requires to close above 373.84, to create a bullish pivot break . Also to give additional confidence , the RSI(relative strength index), requires to move above 50.
I think that if the FTSE100, can close below 7353, it could trigger a fall to 7000, or lower. The intraday FTSE100, is below 7353, due to significant reaction today. However , it would be best to wait for close below 7353, before speculating a position.
If the sp, can close above the price pivot at 381, buy, with a price target of 436.
Background information is that there is a higher bottom and higher top, formation, which is bullish, and indicates the probability of a subsequent higher peak, once the current retracement, is finished. Consider placing a stop below the low price of the current retracement.
If as appears likely, the sp, can remain above the price pivot of 382.27, this will signify 2 days , above the pivot, which will be confirmation of the break upward.
Sp, today has rallied above price pivot of 23/10/23, 382.27. If the sp, can close above the pivot , today , it would be a buy signal .
Difference between ftse100, and SUK2, quotes. A glance at the sp, day movement, shows a very jerky, sideways and up/down movement . Logic would dictate that the underlying ftse100, would not show such jerky movement. At best, it seems as if the SUK2, ticker, is only updated every hour or so, to account for preponderance of straight lines , in day chart . Obviously that behaviour, would not show up on the chart covering 3 months. Beware comparing ftse100 movement during day with SUK2.
Price targets 375, and 393, if sp, can close above 354.10, today .
If sp, can close above the weekly Japanese doji candlestick high of 354.1, buy, with a stop nearby.
If SUK2, can maintain sp, of 379, today, for a second day, that could signify the significant price break up. This is based on my calculation that if ftse100, remains below 7391, for two consecutive days , the probability of a continuous fall , is likely , and thus the reverse SUK2, would have a continuous rise.
Sp, today closed below pivot of 13/7/23, which is bearish. Pivot of 13/7/23 encompasses the recent uptrend line . Standard concept for a trendline break, is that sp, must remain below the trendline for 2 days. If a stop loss is considered necessary , then a stop order under the low price of the price on 13/7/23, could be considered (371.60-0.40#=371.20). Although a stop should be a personal preference , but hopefully allowing for normal volatility .
# Stop should incorporate at a minimum 50% of the normal spread.
Price target 420. Sp, moving up from higher trough, and up trend is intact.
Weekly relative strength crossed above 50, on 1/5/23, and the daily chart for RSI, is also above 50, all.of which is bullish for SUK2. What is particularly significant, is that down trendline drawn through the falling peaks of 10/10/22 and 20/3/23, shows a break upward through the trendline, on 19/6/23, which is bullish. Weekly upper Bollinger band is heading up, which confirms the uptrend.
Why does this stock not always mirror the FTSE100? Today the FTSE has been down 1% but this stock only rose 0.3% when it should have risen 2%? At time of writing the FTSE is down 0.3% and this stock is DOWN 0.1% when it should be UP 0.6%??? And advice appreciated.
The reason I’m asking…
Sitting on a lot of US and Euro stocks which am not selling and i need a serious hedge.
Some of you chatters know this stock very well.
Summer 2017 I was in/out of this every other day. Maybe £200 gain each trade. Peanuts but quite fun.
Then I discovered TVIX which was ridiculous thing to play with (Credit Suisse) and that did not end well..!
Thanks in advance for any opinions…think it may be too soon?
Anyone going in this week?
https://www.thetimes.co.uk/article/five-warning-signs-flashing-red-in-the-uks-economy-j6xhmjzz7
You are too kind :)....(but is has been a great run so far).
Happy days indeed.
Nonsense mate, you were right to be long USD v GBP nothing goes up or down in a straight line, the same still applies, J Powell nailed it home yesterday, rates in the US will be higher for longer. Therefore US dollar will continue its upward path until something breaks
Nice bounce on the market today, gave me chance to fill the rest of my SP 500 short .
Happy days
my pov is that you are better at this then I am. Really mean that. Still feel that the UsD will win vs GBP. Stepped in again, against better judgement perhaps. But think at least until new budget announcement there is an opportunity. Choppy water's thereafter but Dec-mid 23 there could still be an opportunity. Gets more challenging as time progresses, but I think we are at a point of such weakness in Uk economy that even a raise by the BoE won't make much difference. But what do I know :)
Lgo-fan
Whats your view at the moment ?
I've started scaling back into my SP 500 short at just below 3900 hopefully to retest the low at 3500
Also took a punt on a FTSE short at 7196 with SUK2
Fed decision tomorrow, 75 point rise baked in, fed chair Powells words move markets
fun times
well. was a good time to press sell. Too much downward pressure. US house market took me by surprise. It's been a good ride so not complaining. Too turbulent. I prefer somewhat calmer, longer periods. Bit too choppy for me right now.
LGO-fan
Cheers, dumb luck most of the time.
Keep an eye on your investments this week, could be a big one
Results season in US
Google, Microsoft, Meta, Amazon, Apple all report Tue, Wed, & Thur
will move markets one way or another
Sign of an astute investors in my book!
Couldn’t resist it bailed out at 3719 SP500, possibly a little early but cash in the bank nevertheless.