Thread: There she goes....

The MA's are constricting the price downward, if 40 wasn't such a strong support level we would've been through it about an hour ago. Not much support below it, but the longer it stays above it the safer it will become as the MA's sit above it. All depends on the US open this afternoon, if bad there is a real risk of a breakout. If good we may get above the MA's but I would doubt that. RM

Too much like hard work trying to earn a crust from TW on a short term basis i,d say.

Looking at the chart I may add we are in no mans land, so there is a risk we may fall intraday to even 39.5 which is the next pivot. The midpoint is above us at the moment so its currently deciding which way to go. It is a concern. RM

Popes, It trends quite nicely intraday and sticks nicely to moving averages, so when it's trending instead of trading range bound. When it's trending theres really nice probabilities(thats all they are of course) that you can take a good part of the meat of the move, and it does sit on support and move very slowly so you know when to get out (obviously can get stopped out occasionally) I find it...

ryan. We,ve had 2 short stabs at the start of a correction for the market as a whole over the last few weeks. The market didn,t have the heart for the correction and headed back up. I reckon there could be a further stab. Therefore i would suggest today would be a good time to buy some xuks as we are near the 52 week high.

I agree, I think I'll look to set a limit sell on the FTSE and DOW, a little way below the MA's, it seems ready to roll over, if it does it'll just force TW down further though, which is always a shame. RM

Thats why we have day jobs!