This last week was very much up and down for all markets.  For the week the FTSE December futures managed to gain 41 points, The S&P500 lost 8.1 points and the DJIA  lost 23.7 points.  Monday provided the biggest swing with the DJIA regaining the 10,000 level again, finishing below 10,000 on Wednesday, above on [...]

It looks as though the markets were being held up high for the expiry of the October options. Talking of market highs it is interesting to note that the high for the December index options for Wednesday, Thursday and Friday were 5243.5, 5245 and 5245 respectively. A clear triple top. Is this significant? Probably, the market is way [...]

Not withsatnding the comments from last week the FTSE rose again through the 5000 level to finish the week at 5128, a rise of 162 points for the week. So the support level mentioned last week of 4925 was respected. The resistance level of 5175 looks like it will be tested again. It has been [...]

There is a good reason for calling it Red October as historically it is a month when the markets go down, sometimes by large amounts.  In my last post I was saying the the rally had got to a ridiculous stage, now I believe we are seeing the start of the long awaited correction.  I [...]