Forex Blog by Greg Secker

The DOW has found resistance off the down trend line and 50 ema and is clearly forming lower highs in its current down trend as consumer confidence falls and the sub prime worries continues, causing the DOW to close down 280 points. The S&P closed down 34 points and the NASDAQ down 60 points. The FTSE, writes Greg, 100 traded lower all day to close down 117 points. The FTSE, writes Greg, 250 continues setting lower highs in the current down trend and closed the session down 175 points. Futures – DOW is called up 40 points, FTSE is called down 25 points. Oil is trading at $71.50 a barrel and gold at $663.5

The DOW gapped higher at the open but failed to hold on to the gains and closed the session flat. The S&P also gapped higher but closed down 1 point and the NASDAQ closed down 11 points as it ran into a line of resistance. The FTSE, writes Greg, 100 gapped higher at the open but fell back closing the gap to finish the session flat which is a bearish signal. Futures – DOW is called down 40 points and the FTSE is called down 15 points. Oil is trading at $69.85 a barrel and gold at $659.

The DOW opened the day higher but seemed unsure about itself until the last hour of the session to close up 145 points. Watch 13400 for a possible break or bounce. The S&P 500 traded similar to the DOW throughout the day closing up 16 points and right on its short term down trend line. A break of this could signal direction long. The NASDAQ had a good day to close up 31 points and is also back to its trend. The FTSE, writes Greg, 100 gapped higher at the open and showed strong buying throughout the day to close up 109 points. Once again we have an index back to its trend. Watch for a break or bounce. Futures – DOW is called up 78 points, FTSE called up 53 points, Oil is trading at $69.42 a barrel and Gold is trading at $662.4.

The DOW continues to build out its consolidation closing the session down 30 points, watch for a break of this consolidation for direction. The S&P closed up 1 point as it continues to consolidate under its 200 ema. The NASDAQ closed up 12 points. The FTSE, writes Greg, 100 gapped higher at the open but could not hold on to the gains during the session closing the day up 7 points. Futures – DOW is called up 20 points, FTSE is called up 5 points. Oil is trading back below the $70 level at $69.60 a barrel and gold at $656.5.

The DOW had a quiet trading session yesterday as it consolidates at the highs of its recent move finishing the day up 42 points. The S&P 500 is consolidating below its 200 ema and finished the session flat. The NASDAQ closed up 3 points. The FTSE, writes Greg, 100 traded higher in the morning but fell back during the session to finish the day up 14 points leaving a high test reversal bar. We also have a similar bar on the FTSE 250 which closed up 17 points. Futures – DOW is called down 15 points, FTSE is called up 20 points. Oil is trading at $70.70 a barrel and gold at $659.

The DOW had a major gap higher at the open on Friday after the FED reduced the US discount rate from 6.25% to 5.75%, the DOW managed to hold on to its gain and closed up 233 points. The S&P added 34 points and the NASDAQ added 53 points. After trading lower for the morning part of the session the FTSE rallied on the news and closed the session up 205 points. Futures – DOW is called down 35 points, FTSE is called up 10 points. Oil is trading at $71.20 a barrel and gold at $656.

The DOW fell at the start of the trading session yesterday and at one point was down 325 points near to the 12,400 target level for the head and shoulders pattern, but buyers came back in looking for bargains and pushed the index back up to the close and finished the day down 15 points. As the DOW has dropped 1200 points in the last 6 trading sessions we could see some buying as traders start looking for some bargains. The S&P was down 35 points during the session but rallied to the close to finish up 4 points. The NASDAQ was down 70 points at one stage but finished the day down 7 points. After gapping lower by 120 at the open the FTSE 100 and continued to trade lower during the session to finish down 250 points. The FTSE, writes Greg, 250 closed down 426 points. Asia overnight also traded lower with the NIKKIE falling 874 points (5.4%) and the HANG SENG 688 points (3.3%). Futures – DOW is called down 85 points, FTSE is called flat. Oil is trading at $71.20 and barrel and gold at $648.5.

The DOW sold off heavily to the close yesterday ending the day down 167 points below the 13,000 level at 12861 on the 200 ema. The S&P broke its support level and closed down 19 points. The NASDAQ fell 40 points and has closed below its 200 ema. The FTSE, writes Greg, 100 gapped lower at the open but recovered during the session to close down 34 points. The FTSE, writes Greg, 250 closed down 109 points. Futures – the DOW is called down 55 points, FTSE is called down 125 points. Oil is trading at $72.70 a barrel and gold at $665.

The DOW had a relatively quiet trading day yesterday with low volatility and ended the session down 3 points. The S&P closed flat and the NASDAQ closed down 2 points. The FTSE, writes Greg, 100 gapped higher at the open after the big sell off on Friday and closed the session up 180 points. The FTSE, writes Greg, 250 added 278 points. Futures – DOW is called down 35 points, FTSE is called down 70 points. Oil is trading at $71.60 a barrel and gold at 669.5