On the FTSE 100 daily chart the FTSE made a new high last week but the MACD is lower, this happens when the rally is nearing an end…read more
FTSE Prediction today and next week, Yellen speaks today
FTSE prediction short term: The FTSE was trading in a tight range yesterday, the weak pound provided some support. I was expecting a pullback but the index was very resilient, it looks like this pullback will occur this morning as the index is lower in pre-open. Sometimes the expected move does not happen when both […]
Trump’s speech tonight could derail the S&P forecast
S&P forecast: The S&P 500 made a new all-time high in line with my forecast, the FTSE is struggling to move higher. I think the trend has turned down in the FTSE, but the S&P is still in its uptrend near the top. The pound has dropped sharply below the breakout point following comments Scotland […]
A rally in GBP/USD would be a drag on the FTSE 100
GBP/USD has been consolidating in the range 1.2400-1.2500 for a while. Today the break occurred to the upside, read the report here.
FTSE trading: possible move to 7350
FTSE trading: The rally is in its final leg up, the Top 20 Differential is overbought and the pattern can be counted as an impulse wave or a double zigzag nearing an end. It is not recommended to be heavily long at this stage but there is still potential for a move to 7350 in […]
FTSE forecast: The decline could be short lived
FTSE forecast: today possible decline followed by a rally. As you can see the pound looks bearish, if it is tracing out a triangle [a,b,c,d,e (circle)] the next move is wave d (circle) down to 1.2400. If this happened and the S&P declines, the FTSE will decline but the decline won’t go far. The alternative […]