Published on
June 13, 2011 in
Education and Market Reviews.
Tags: 6000, bank shares, Banks, Barclays, Bear market, BP, Bull market, CFD, CFDs, correction, crash, Footsie, FTSE, FTSE 100, FTSE 250, FTSE 350, FTSE index, FTSE Sectors, Lloyds, Market bottom, market rally, market trend, momentum, Moving Average, rally, rally in share prices, RBS, Royal Bank of Scotland, S&P 500, share prices, sipp, SIPPS, spread betting, stock market, stock market collapse, stock market crash, Stock Market indices, stock market recovery, stock prices, trading in stocks, UK Banks, Wall Street.
Soon is the quick answer.
A full, free, technical analysis report giving support levels etc. is available on request to admin@sharehunter.com
This Stock Market correction will lead to a significant rally but there may be more falls to come first so don’t be in a hurry to start buying – but be ready because there are going to be some bargains to be had and some fast profits to be made.
The S&P 500 is testing the strength of the lastest potential resistance at the 1167 level. With this index having shown some strength during the last few weeks it may well find that the 1167 level presents no problem to its further upward progress. If it breaks above 1167 then it should continue all the way up to the 1290 level. This would be a significant increase even if it does take a month or two to get there and it will have positive effect on the UK market indices.
The FTSE 100 is, at the same time, very close to a test of overhead resistance at the 5770 level. The FTSE has pushed up quite strongly over the past few weeks so it may well take a pause, and put in a correction, at this level but all the signals currently suggest that 5770 shouldn’t prove too much of a resistance hurdle to overcome. If the FTSE 100 can get, and stay, above 5770 then, as we showed in our recent blog report, there is the juicy prospect of it climbing all the way to test the 6160 level.
During the last few weeks the FTSE 250 has also come out of its 6 month sideways doldrums and moved ahead. It is displaying an intention of rising to test the 10500 level.
So, for the moment, the markets continue to look relatively benign – but that can be dangerous and we must not take further increases for granted as it is often that the steepest crashes occur when least expected. Our one overriding concern is the picture being painted by our Momentum Indicator (‘MI’) which continues to suggest that the markets may soon make a meaningful top. That could happen next week or in a month or two’s time – but happen it will if the MI doesn’t soon put in a rise. Generally the market’s rise is unsustainable if the MI does not also rise. Here is the chart again –
Individual market commentary and illustrative charts are available at http://www.sharehunter.com/news/market-review/
Published on
January 17, 2010 in
Education, Market Reviews and ShareHunter News.
Tags: buying, correction, FTSE, FTSE100, Index, market rally, momentum, stock market trend, wave pattern.
Last week the FTSE 100 closed 78 points (-1.4%) down. Hardly dramatic. Our trend analysis shows that the Uptrend is still in place and so higher prices are likely to re-assert themselves soon. It may not be during this coming week though as our Momentum Indicator is suggesting that there may be insufficient buying activity to lift the markets in the short term.
From the date (March 2009) that the stock market bottomed out the pattern of the FTSE 100 index has been a ‘wave flow’ of 1 to 4 weeks of higher closes followed by 1 to 2 weeks of lower closes. So last week’s small correction is just part of that pattern and this week we may see a perfectly normal extension of that correction before the index turns upward again – which we, calculate, should be the following week.
But, if that doesn’t happen then the wave-flow pattern will have changed and that could signify an imminent change in the dominant trend and be something to be very wary about. But that is a week or two away yet and, of course, may not happen at all. For the time being it is a matter of being prudent and not over committing to the market but also of being ready to take full advantage if, as expected, the market rallies later this coming week or during the following week.
Individual market commentary and illustrative charts are available at http://www.sharehunter.com/news/market-review/
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