Thursday, July 29, 2010

FTSE 250 (MIDD) Looking Better For Bulls

In our last review of the FTSE 250 (ETF:MIDD) the index was testing 981 resistance. In the past week the FTSE 250 has managed to break not just the July reaction high but the June one too - confirming the May/July reaction lows as a double bottom. This has handed the impetus to the bulls and may give cause for similar confirmations in US markets (with the exception of the Dow, lead US indices are trading below their mid-June reaction high peaks).

With 988 cleared and new support there is a bit of breathing room to the next point of resistance around 1,027. If there is a concern with the rally it's to do with the lack of volume, although typical for the time of year. The heavy volume selloff in early May left supply concerns for any rally into 1,020, but with higher highs and higher lows currently the order of the day the trend friend is with the bulls.

Zignals Chart Image

It has been a week since I last listed my strategy signals but subscribers to one of my trading strategies will have received all of the signals for aforementioned strategies they held subscriptions too - including key intraday alerts on stop or profit target hits. If you are interested in receiving these signals to your email account please subscribe to any one of these strategies from my Zignals home page.

Yesterday's after-the-close signals were relatively light as markets traded in narrow ranges, keeping a lid on big movers - and therefore new signals.

ASX Price x 20-day MA

Long Confirmation Entry for WPL (Sydney) at AU$42.10

BSE Zignals

Long Confirmation Entry for SBI (Mumbai) at INR2449.9
Long Entry for BSES (Mumbai) at INR1158.3

Commodities Oak

Short Confirmation Entry for SlvUSD (Commodities) at $18.21

Forex Oak

Short Confirmation Entry for JPYUSD (FX) at 0.0120

Frankfurt High Winners

New Long Target and Stop for WCH (Frankfurt) at €136.7 (EoD): Target €150.8, Stop €130.2
New Long Target and Stop for PRAF (Frankfurt) at €6.05 (EoD): Target €6.69, Stop €5.77


New Long Target and Stop for LAM (London) at 264p (EoD): Target 294p, Stop 240p

India Oak

Short Confirmation Entry for KOTAK (Mumbai) at INR771.5

Indian Golden Brown

New Long Target and Stop for TELCO (Mumbai) at INR854.2 (EoD): Target INR941.9, Stop INR770.7
Long Entry for ABAN (Mumbai) at INR831.5

Indian High Winners

Long Unacted Entry for ABAN (Mumbai) at INR831.5 (EoD): Entry signal given, but exited position on same stock too recently

Indian Strength

Long Confirmation Entry for ABAN (Mumbai) at INR831.5

Irish Oak

Short Exit at Stop for PLS (ISEQ) at €27.90

MA Crossover

Long Exit at Stop for IP (NYSE) at $23.68

My YouTube Strategy

Long Entry for IWM (NYSE) at $66.33

Relative Canada

Long Confirmation Entry for MLX (Toronto) at $11.31

Relative UK

Long Entry for POLR (London) at 89p

UK Golden Brown

Long Confirmation Entry for JD. (London) at 787p

UK High Winners

Long Exit at Trailing Stop for CHNS (London) at 218p
Long Entry for LCG (London) at 123p
Long Entry for POLR (London) at 89p
New Long Target and Stop for AIP (London) at 317p (EoD): Target 357p, Stop 308p
Long Confirmation Entry for JD. (London) at 787p
Long Confirmation Entry for SFR (London) at 213p

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