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 […]