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FTSE - Category Archive


Feb 09
Monday

MaGiK - Edition 11

Filed under Commodities, Dow Jones, FTSE, Technical Analysis, Your StockPicks

MAGIK Numbers

Daily and Weekly Dow Jones | FTSE Analysis

By Mr. Magik

9 Feb 2009 | Edition 11

DOW FTSE
Daily Week Daily Week
8214 8150 Pivot 4285 4225 Pivot
8375 8440 R1 4345 4400 R1
8120 7990 S1 4240 4110 S1
8628 8920 R3 4440 4700 R3
7875 7525 S3 4140 3800 S3
8500 8690 R2 4400 4550 R2
8000 7755 S2 4185 3965 S2
94 80 % 80% 85 %

Dow

The Dow closed at 8281 on Friday. We are expecting the Dow to trade within a range of 8375 (daily R1) and 8120 (daily S1). Swing is overbought at 94% hence we are expecting a pullback to close to pivot today 8214. We expect daily pivot 8214 to provide minor support, as the swing indicator shows the Dow trying to get out of consolidation. The daily S1 and weekly pivot will act together to support the market today, I don’t expect the DS1 to break and would make a good opportunity to turn long. A major key overlap point at 8000 today, we expect 8000 to be strong support for the week.

Trade plan

No favourable risk reward trade noted, best remain sideline. The risk rewards for selling at daily Pivot is not good as the target is DS1 and stop is DR1. If any trade is to be taken it has to be short at DR1 and stop above WR1 8440. Target 8214
FTSE

The FTSE closed at 4292 in an overbought position on Friday. The expected trade range is between 4345 (DR1) and 4240 (DS1). The FTSE remains very bullish and quick to rise on any positive Dow movements. A 1% rise in Dow can be a 2% rise n FTSE of late. This maybe due to forex translation on valuations being cheap for FTSE.

As for our trade plan, we remain vigilant of developments in the US senate but also careful of big breaking news.

Trade plan

No favourable risk reward noted as shorting at DR1 is also a breakout of the current range. Hence for risk takers turn short at today’s DR1 4340, target is 4240 stop is 4415. Best sell at 4400 (WR1), stop 4415, target is 4240.

Best to your trade,

Mr.Magik

All entries filed under FTSE


Magik - Edition 7
no responses - Posted 02.03.09
MAGIK Numbers Daily and Weekly Dow Jones | FTSE Analysis   By Mr. Magik 3 Feb 2009 | Edition 7  DOW   FTSE   Daily Week   Daily Week   7935 8109 Pivot 4076 4165 Pivot 8005 8300 R1 4120 4300 R1 7875 7800 S1 4040 4019 S1 8137 8754 R3 4200 4577 R3 7735 7350 S3 3960 3740 S3             8070 8524 R2 4156 4429 R2 7802 7580 S2 3998 3885 S2 26 42 % 27 63 %   Dow No trade taken. The Dow closed at 7937 on Monday. We are expecting the Dow to trade within a range of 8005 (daily R1) and 7875 (daily S1). Swing is oversold at 26% hence ...continue
Magik Numbers: FTSE 100 Strong Support Holds
no responses - Posted 02.02.09
TheInflationist opened a long FTSE 100 $10/point at 4080 after making a low of 4033 - with strong support at 4000. Magik Numbers show all support were in line around the 4000-4100 mark. TheInflationist now has a long position for Dow, FTSE, and ASX. We aim to close or protect ...continue


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