Thursday, September 30, 2010

Latest Zignals Trading Strategy Signals

With European markets taking a hit over Spain's credit rating and Irish bank bailout costs it might prove tough to be a buyer in this market. However, broader market action is not overwhelming negative as the FTSE 250 ETF, MIDD, demonstrates. While MIDD is obviously trading down on the day, it is caught inside a larger broadening pattern - while at the same time trading above key 1,025 support. Supply is unlikely to become a major issue until it makes it to 1,061-1,065.

Zignals Chart Image

In this light, opportunities remain on the long side and down days like today are best viewed as offering potential buys - at least until the range trading of the past couple of weeks is breached.

Yesterday's buy signals were relatively few with the likes of Nestor Healthcare and RWS Holdings offering buying opportunities at the open (strategy signals are sent after the prior markets' close). Even BP made the cut for strategy "UK Tempest".

Zignals Chart Image

Zignals Chart Image

Zignals Chart Image

In US Markets there is a market open 'buy' signal for Citigroup.

Zignals Chart Image

The short side also offered some possibilities. Wednesday's trading saw stop exits in Australian strategies (primarily) with a couple of others for an Irish and UK strategy.

You can find these strategies and more, covering US, UK, Ireland, Canada, Australia and India here.

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