Thursday, 22 July 2010

FTSE 5214 giving mixed signals

5min Chart is flagging a SELL signal at 5222. Looking for a move back to 5150 level, a drop of 64pts (1.3%). A break below 5140 will be a warning that the market is heading down to test 5100 again.

Medium term FTSE has been on a SELL signal from 5600 at the start of May 2010. Only a close above the Daily 50ema(5178) for a week will change the downtrend.

Date Trade PriceStop Target Profit
20Jul BUY 5160 5192 5400 £540
16Jul SELL 5230 5160 4500 £700
06Jul BUY 4858 5176 5400 £3180
22Jun SELL 5270 4858 4500 £4120
10Jun BUY 5063 5270 5400 £2070

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