FTSE

twl2009 wrote: All three US indices fell between 5-7% on their downgrading in 2011. The Ftse is obviously toppy at the mo, any thoughts on mondays action?????

I think because everyone was expecting a drop the market surprises us as usual, with a rise this morning. Suckers rally? I've gone short at 6381. 30 point stop.

I was thinking that the downgrade would put pressure on Sterling which would benefit the markets, no?

Anyway, seems it was all price in for now.

Jackozy,
good call on one more run for the bulls. I presume you were counting waves there?

Cheers
F4T

Yes, bit only short timeframes ones on the bounce from 6278. The counts on SPX and Dow up from 1343 and 12471 respectively lookk like they've got a fair bit more to come if you ask me.

Waters are very choppy at these levels though, eh?

Yep, very choppy. One of the joys of the markets when we reach perceived limits that bend and stretch.
I have no doubt that markets have further to go but I would like to see SPX pull back to theb 1400 levels first. I think we will see that. Q1 is often strong and Q2 weak.

Companies are stronger than economies and everyone wants to play at trading.

F4T

Can't argue with that F4T.