Fed minutes – FOMC minutes released yesterday indicated that the Fed was unlikely to raise interest rates (currently 5.25%) in either September or October.
Hurrcane Season – Ernesto loses strength and veers away from oil and gas fields in Gulf of Mexico.
Crude oil – oil price closed below $70 as a result, but moved back [...]

Support and Resistance

Over time a stock may find that it is unable to penetrate a particular price level.
If this price level occurs at the top end of a stock’s trading range it is known as resistance. If it occurs at the bottom end of a stock’s trading range it is known as support.
If we are [...]

TRADE OF THE WEEK – sponsored by LiveTradingFloor

Intercontinental Hotels Group PLC (IHP)
Technical Play: PowerPivot – Short
Entry Price: 866.00
Initial Stop Loss: 875.00
Target: 820.00
Strategy
Pivot short off 200ema. Enter no lower than 862. 10/8 08:10am – stop moved to just above todays high at 858. 9:29am – stop moved to 846 based on level 2 to lock [...]

Fed releases minutes August 29

After the last Fed meeting, interest rates were held at 5.25%, ending an unbroken series of rises that began in June 2004.
The markets are eagerly awaiting to see what was discussed during the meeting This was evident yesterday when comments by Chicago Fed Reserve President Michael Moskow caused the [...]

CPI

The Us Government’s Consumer Price Index (CPI) rose 0.4% in July ,in line with analysts expectations, and up from a rise in June of 0.2%.

US House Market

The National Association of Homebuliders index of sentiment fell seven points to 23 in July, it’s lowest level since February 1991.

Commodities

Oil – prices edged lower in cautious trade [...]

Introduction to Level 2 What is Level 1?

Level 1 shows only the best bid/offer and volume.
Level one does not show any market depth.

What is Level 2?

Can see the price level and volume of all bids/offers that are currently placed in the market.
View market maker quotes
Level 2 can be of major benefit to your trading especially [...]

TRADE OF THE WEEK – sponsored by LiveTradingFloor

Shire PLC (SHP)
Technical Play: PowerPivot – Long
Entry Price: 846.00
Initial Stop Loss: 836.00
Target: 919.00
Strategy
Pivot in uptrend off 20ema. Place stop below todays lows rather than yesterdays as too far away. Precise stop based on level 2 support. Enter at 847 Max. 11/8 12:23pm – stop to 854 below [...]

Inflation

Consumer Price Index fell to 2.4% from 2.5% in June – still well above the Government’s 2% target.

Unemployment

The UK jobless rate continues to rise with the number of people out of work increasing by 92,000 to 1.68million between April and June.

Power Plays What are you trying to achieve with a Power Play?

You are looking for a pivot in a share’s movement.
Ideally you want to catch the point at which a retracement turns and the main trend continues.
You need to apply the Power Play Basic Rules.
You also need to use some filtering rules on other indicators [...]

TRADE OF THE WEEK – sponsored by LiveTradingFloor

Sage Group (The) PLC (SGE)
Technical Play: Consolidation Breakout – Short
Entry Price: 225.75
Initial Stop Loss: 228.25
Target: 205.00
Strategy
Consolidation breakout short and below 50ema with high test on today’s bar so far. Enter no lower than 225. 10:59am – corrected stop loss to 228.25 (mistakenly entered 528.25). 9/8 – raised [...]