As we write we are flirting with moving into a positive position, volumes for the most part still seem relatively low but there is also little sign of determined selling that saw on Wall Street last night.   The Market may be taking comfort from the increasingly active diplomatic efforts to find a solution to the Middle East crisis.

We had numbers from BSkyB this morning an whilst there were a number of negatives in the announcement the market has shrugged these off and the stock is now bang on our stop at 560p  Sadly it looks right to come out of these hopefully you will still belong Reuters to soften the blow.

Looking at todays signals we note the bull breakouts in both Kazakhmys & Xstrata.   Xstrata has announced that it has increased its stake in Canadian miner Falconbridge this has spurred on the stock and taken it through resistance at 2149p.  As we write they are trading at 2180p, there is some resistance at 2200p to overcome but through here there is nothing until 2400p.

Looking at our Point & Figure matrix we note that many other Miners are only few percent away from reversing their recent bear trends a portent perhaps for the future direction of the market.  We will of course be watching this bell weather sector very closely from here on in .

Fund manager Schroeder's had been on our list as a potential sell had it broken and stayed below key support at 940p in common peers such as Aberdeen & Old Mutual, they staged a forceful rally to move themselves out of the danger zone and out of the Bear trend .   All three of these stock have the potential to move higher from here but the current levels have been a barrier in recent weeks and we will need a similar performance to yesterday to move them on.

New Signals
UK P&F Breakouts: 27 Jul 2006

P&F breakouts identify medium-term trend changes. "Bull" breakouts occur when a stock reverses its downtrend by posting a "higher high". "Bear" breakouts are the inverse.
We scan a "universe" of the FTSE 350 on a daily basis to identify these formations.
Key Day Reversals: 27 Jul 2006

Key day reversals are technical signals formed by stocks posting an "outside day" of a higher high and a higher low. Sells occur on countertrend reversals from a bullish trend and buys occur on countertrend reversals from bearish trends. Signals are particularly powerful when occurring after a period of overextension.
MA Crossovers: 27 Jul 2006

Moving Average (MA) crossovers identify longer-term changes of trend. We scan for "Golden" (bullish) and "Dead" (bearish) signals occurring when an instrument's 20-day MA crosses its 50-day MA.
Volume Advances

Volume Advances scans for stocks exhibiting volumes over their 20-day moving average.
Index Summary

Index	Close	Volume	1 day Change		P&F Trend		Stop
FTSE 100	5929.5	1,583.6m	+52.40	+0.9%	Bull	30 Jun 2006	5650.00
FTSE 250	9362	581.9m	+76.40	+0.8%	Bear	18 Jul 2006	9550.00
Closing prices through Thu Jul 27, 2006

Data drawn from market close. Technical trend, date of initiation and stop based on 3-box Point & Figure chart methodology.

Market Breadth

Investors Intelligence breadth statistics are based on the P&F "bullish%" and determines the degree of participation of the underlying stocks for any given index move.

Industry Breadth

Investors Intelligence breadth statistics are based on the P&F "bullish%" and determines the degree of participation of the underlying stocks in any industry group move. Industry Group bullish% provides an important measure of medium-term overbought/oversold conditions and a guide to sector rotation.
Top 5 Gains.

Top 5 Losses.

 Please click here to receive our daily market reports