Yesterday, notes Mr Secker, the FTSE 100 closed down 105 points at 4,190. An interesting and ironic day after the 100 point rally was saw yesterday. We are watching the support level of 4,000 and resistance at 4400 closely now to see which one is breeched. The Dow opened yesterday with early weakness as [...]

Yesterday, notes Mr Secker, the FTSE 100 rallied 100 points to close at 4,295. The index is now resting on the 50ema so today will be a very interesting day because in the last few months the index has found resistance at the 50 ema. If this level is breeched then we could see [...]

The FTSE 100 closed down 14 points at 4194 yesterday as construction materials company Wolseley fell 10% and 3I Group lost 5% of its share price. The index continues in a large consolidation between 3800 and 4600 and is likely to persist in its primary down trend in the medium to long term. Looking at [...]

Yesterday, notes Mr Secker, the FTSE100 closed up 156 points at 4,209. This was the first time this year that we saw 2 successive green bars on the daily chart. The low test bar on Friday tested the 4,000 and today we see that it was rejected. This may signal that the lows at [...]

On Friday the FTSE closed up 0.2 points, at 4,057 having pierced through the 4,000 mark for the first time since early December. The UK benchmark is down over 8 percent so far this month, its worst annual drop since its launch in 1984. After a very volatile session of trading the major US equity [...]

The FTSE 100 gave up early gains yesterday to close at 4052 losing 7 points with the only element of joy coming that it held up over the 4,000 mark yet again. Generally US stocks fell amid a mix of weak economic data and disappointing earnings news.  The Dow pushed aside yesterday’s optimism and dropped [...]

The FTSE closed down 31 points yesterday at 4,060 and tested the key level of 4,000. A nice down-trending resistance level has formed from the highs of the 6th January and it will be interesting to see if this resistance holds during the interaction with 4,000. The Dow opened the session with early strength but [...]

Yesterday, notes Mr Secker, the FTSE 100 closed down 17 points at 4,091 following an interesting news-led day with Barak Obama being inaugurated as the 44th US President. A high test bar has formed on the daily chart as the index moves slowly down towards the 4,000 level. We will watch with interest over [...]

Yesterday, notes Mr Secker, the FTSE closed down 38 points at 4,108. The index gapped up 70 points on the open and continued to rally gaining 100 points by mid-morning. Then the sellers gained control and the index fell nearly 200 points during the afternoon before eventually closing down only 38 points. This was [...]

The FTSE closed on Friday down 41 points at 4,127, a fall of nearly 300 points for the week. A rally in the morning session stalled around lunchtime as the New York markets opened forming a high-test bar on the daily chart. High test bars on any chart (stock, currency, sector or indices) are bearish [...]