FTSE 5536 - 11 Jan

Summary
Market opened up 32pts at 5568, hitting 5582, then pulled back to 5576 for another 24pts move up to 5600 by 09:00. Short position was the trade for the day, with the index hitting 5552 by 12:15, before bouncing up to resistance at 5570 at 14:15. Market then slid 42pts to a low 5528 by 16:15, before closing at 5538. Daily range of 72pts. Was looking to go long at 50ema(5551) or PDC (5336)

16:30
1. 5538 > 5ema(5537) > 10ema(5544) - FAIL
2. Macd (-6.5) with Bear cross (15.2) at 11:00am (5880) - FAIL


15:45
1. 5540 > 5ema (5362) > 10ema (5364) - FAIL
2. Macd positive and rising - FAIL


12:00
1. 5562> 5ema (5568) > 10ema(5572) - FAIL
2. Macd (9). Bear cross (15) at 11:00 - FAIL


Pivot point 5523 favours Long trades. Resistance at  5551, 5566 and 5581. Support at 5524, 5509 and 5494. Daily 5ema(5510) > 10ema(5465).Markets have been strong on Mondays, so looking for a High Monday or Tuesday around 5600, the hopefully a retest of the daily 20ema(5403) before move to a new High in week ending 22nd Jan and a Target 5700 (45 days after the high 5397 on Monday 16 Nov).

Feb - 5450-5800
Mar - 5450-5900

S&P500 closed up 3pts 0.3% at (1145).
Australia ASX closed up 39pts 0.8% (4981) above resistance at 4900.
Japan (10798) closed - Public Holiday. Above 10700 resistance
Hang Seng (22400) up 0.5% and  still below resistance at 23000.