August 2016

The passing week continued the Daily timeframe correction started the week before, in an A-B-C manner, forming a bearish setup to reach the 6738 level. The bullish setup advised here on the previous review didn’t form completely as though the price did take out the High of the previous Friday, instead of a reaction and Read More

Like other European indexes, the FTSE100 had a Daily correction throughout most of the passing week, and was rather weak than the American indexes. Pay attention to the negative correlation among stocks and currencies in the Euro zone, that became much significant lately (as opposed to this same kind of correlation in the US where for a Read More

Not surprisingly, the FTSE100 was one of the strongest indexes throughout the passing week, as the index had given a very good bullish signal, a thrust above a Weekly bullish pinbar on a sloping 8 EMA line, high momentum, after a retest of an important Monthly line mentioned before, being a confirmation that the market has overcome Read More

The passing week’s bar demonstrated a typical shake out. The market started with a false thrust above the Daily pinbar I’ve suggested in the last review as an aggressive buying position, then extended the range down taking out stops at the last lows: 6663.72 and 6616.51, then reversed, closing the week much more powerful – Read More