The FTSE 100 or what some people call as the “footsie” comprises of the 100 most highly capitalised UK companies listed on the London Stock Exchange. Some of the most notable companies listed here are BP (currently known as the worst oil spill in history), Royal Dutch Shell (the “Shell” gas station you see all over) and Unilever (one of the biggest producers of consumer brand products).
Chart-wise, the footsie looked to have broken down from the head and shoulders formation last July 5 (kindly check here). However, a few days later it rebounded and went back above the neckline (kindly check here). Apparently, what looks like a head shoulders could actually be a falling wedge set up as seen in the chart now. This could be confirmed once the resistance of the falling wedge gets cleared out. If it does, the value of the index could ascend to the next marker at 5,331.50. In case the value of the FTSE 100 starts falling again, the current support is the uptrend. If the index further falls below the uptrend, the next support could be 4,790.00.
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The Philippine Stock Exchange Index was pushed higher last week as the US markets rebounded from the 5% decline 2 weeks ago. During my last post on the PSEi (kindly check here), its chart has been setting up to fully break above the 3,333.26 resistance and during last Thursday’s trading session, it was able to. The ... ...
Posted: July 11, 2010 at 8:08 am
Hello FX fans! In my blog back in June 24 (please check that entry here), I thought that the EURCAD would continue to slide as it traversed a nice looking descending channel. After just four days of trying to break through the downtrend resistance, the buyers eventually won, causing an immediate upsurge in prices. The ... ...
Posted: July 9, 2010 at 6:22 am
Good day forex people! Here’s an update on the EURAUD pair which I last posted way back on May 26 (kindly see that post here). As you can see on today’s chart, the pair has continued to slide when it hit a resistance just below 1.5500 after moving past above the shorter term downtrend line. ... ...
Posted: July 9, 2010 at 4:52 am
In my last post about the AUDUSD pair, I mentioned that if it falls below the neckline of the double bottom, it would likely sink further until it sees some support at 0.8300 or at 0.8100 (kindly check my previous post here). As as you can see, it indeed consolidated into a smaller double bottom ... ...
Posted: July 8, 2010 at 5:12 am
Good day FX men and women! Here’s an update on the fiber or the EURUSD pair which I posted on July 2 (please see my last entry here). Back then, I asked if the euro bulls are back in play since the EURUSD had just broken out from an inverted head and shoulders. Indeed the ... ...
Posted: July 8, 2010 at 2:57 am
Back in my last post (kindly check here), it looks that the FTSE 100 (informally called as “footsie”) has broken down from the head and shoulders setup. However, I was wrong. As many investors were hopeful for the incoming earnings reports both in the US and around the globe, most of the major stock markets ... ...
Posted: July 7, 2010 at 9:24 pm
Here’s an update on the USDCHF pair which I last posted on June 29 (check my previous entry here). As you can see, the pair had reached a high of 1.1731 after breaking out from an inverted head shoulders formation. For awhile then, things were looking bright for those who were long. Unfortunately, the pair ... ...
Posted: July 7, 2010 at 2:36 pm
I posted the chart of Microsoft Corporation or MSFT in the New York Stock Exchange last May 2010 when it had broken down from the neckline of its double top formation (kindly check here). After weeks of consolidation, an inverted or a bearish flag formed which eventually broke down when the price fell below $24.50 ... ...
Posted: July 7, 2010 at 11:55 am
Good day finance fans! Here’s an update on the price action of gold which I last posted on June 28 (kindly see my previous entry here). As you can see, the price of gold has weakened after it marked a new all-time high at $1,265.05 per ounce on June 21. Gold has a possibility to ... ...
Posted: July 7, 2010 at 6:14 am
The last time I posted about AmerisourceBergen Corp. or ABC in the New York Stock Exchange was when it was still creating new highs (kindly check here). However last week, it had broken down from the support of its 16-month ascending channel (indicated by the red circle) and tapped the $30.31 support. If the price completely drops ... ...
Posted: July 6, 2010 at 10:50 am
Last time I posted about Amazon.com, Inc. (kindly check here) or AMZN in the New York Stock Exchange, the head and shoulders formation (may look like double top for some) was still being set up. However last week, the Amazon stocks breached the neckline of the said formation and dropped around the $110.62 support. If ... ...
Posted: July 6, 2010 at 9:43 am
Hello there forex friends! today’s I present to you an update on US dollar index which I last posted back in June 24 (kindly see my previous entry here). As you can see, the index has retraced back to the 50% Fibonacci retracement level that I drew after reaching a high of 88.708 last June ... ...
Posted: July 6, 2010 at 5:48 am
Good Tuesday everyone! On today’s canvas is the daily chart of the Euro Stoxx 50. For those who do not know, the Euro Stoxx 50 is a stock index of the 50 biggest blue-chip companies in the euro zone. Like the Dow of the US, the Stoxx 50 can also be used as a leading ... ...
Posted: July 6, 2010 at 4:14 am
Hey guys, I got you here the chart of the FTSE 100 Index. In case you do not know, the FTSE 100 consists of the 100 most highly capitalized UK companies listed on the London Stock Exchange (LSE). This is also considered as the London Stock Exchange’s main index. Anyway, its chart is very similar to the charts ... ...
Posted: July 5, 2010 at 6:48 pm
The German Index or the DAX consists the 30 major German companies trading on the Frankfurt Stock Exchange. Chart-wise, it looks like the German stock index does not share the same fate as the Dow Jones Industrial Average, Nasdaq Composite, S&P 500 and the FTSE 100 as we do not see any head and shoulders in ... ...
Posted: July 5, 2010 at 6:28 pm
Good day forex and stock fans! Earlier today I presented my commentary on the recent price action of Shanghai Composite Index (kindly see my previous post here). Now, it’s Japan’s turn to be heard so here it is. On today’s canvas is the daily chart of the Nihon Keizai Shimbun Stock Market Index or the ... ...
Posted: July 5, 2010 at 2:24 am
Happy fourth of July everyone! I hope you guys enjoyed your weekend. Me and my esteemed colleague had just presented to you the major indices in the US and how each of them portrayed a breakdown. We also showed you a look on one of the emerging markets in Asia, the Philippines, and how it ... ...
Posted: July 4, 2010 at 1:31 pm
Here’s a weekend wrap-up of the Dow Jones Industrial Average (^DJI). The ^DJI has broken down from the neckline of the head and shoulders formation (indicated by the red circle), following the same fate of the Nasdaq Composite (kindly click here to see it) and the S&P 500 (kindly click here to see it). Its value could ... ...
Posted: July 3, 2010 at 9:36 pm
Here’s my weekend wrap-up of the Philippine Stock Exchange Index (PSEi) to supplement my previous post about it (kindly click here to see it). Despite the drop of the Dow Jones Industrial Average (^DJI), Nasdaq Composite and the S&P 500, the PSEi defied all odds by maintaining its uptrend and that can be seen in the ... ...
Posted: July 2, 2010 at 10:58 am
Good day euro fans! Now, if you’re one of the lucky ones who are still long on the euro then yesterday was your lucky day as the EURUSD pair surged by more than 200 pips! The EURUSD opened at 1.4957 and closed at 1.5163. Contrary its previous inclination which I mentioned in my last post ... ...
Posted: July 2, 2010 at 5:03 am
Good day forex peeps! Here’s an update on the cable or the GBPUSD pair which I last posted on June 17 (kindly see my previous entry here). Contrary to what I thought would happen, the sterling pound had risen against the odds and had broken several significant resistances during the past two weeks to place ... ...
Posted: July 2, 2010 at 3:56 am
In addition to the posts of my colleague regarding his analysis on the NASDAQ Composite (kindly click here to see it) and Dow Jones Industrial Average (kindly click here to see it), I also want to point out something on the S&P 500/.INX/^GSPC. After months of monitoring the movement of the S&P (my previous posts ... ...
Posted: July 1, 2010 at 10:21 am
Ford Motors or F in the New York Stock Exchange produces cars and trucks you could see almost everywhere. However, they were one of the big companies badly hit by the 2008 financial crisis. Anyway, their stock chart was on an uptrend from 2009 up to March of 2010. Then the stocks broke down from its ... ...
Posted: July 1, 2010 at 9:56 am
Red alert on the Dow! Watch out! The Dow Jones Industrial Average (^DJI) is at risk of breaking down! From my last post about the index a couple of days ago (kindly check my past entry here), it has finally approached the neckline of a head and shoulders pattern. The NASDAQ, which I presented earlier ... ...
Posted: July 1, 2010 at 3:12 am
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