The FTSE was the highest volatile index throughout the passing week among main stock indexes, where much of the credit belongs to the GBP. The week started by taking out the previous week’s High and negating a Daily bearish setup mentioned in the last review, breaking up strongly all the resistance levels mentioned. By taking out the Read More
2016
The FTSE managed to close the Quarter close to its High, pretty strong. The Monthly bar ended as an inside bar, and the Weekly bar managed to make a HH HL bullish pinbar on a sloping 8 EMA. At first sight the picture looks strong, but this price action may turn out to be very Read More
The FTSE was one of the strongest indexes throughout the passing week. Technically we can relate some of this strength to the weakness of the GBP, respectively. The market did print a Daily bearish pinbar on the 6812 resistance level, as suggested in the last review, but it hasn’t been followed by a thrust down, Read More
In the passing week, the market has entered a bearish setup upon taking out the Weekly Low of 6723.21. The Stop level is above 6928.25, whereas the target for this setup is the 6510 level, which is also a retracement of 38.2% of the bullish wave that has followed the Brexit decision. An extra bearish Read More
After the potential Daily bullish setup introduced here last week, the market did consolidate for one day, but instead of continuing the thrust up it has shown signs of weakness for most of the passing week. So far, certainly before taking out the Weekly Low at 6723.21, – it is not bearish for the short Read More
The passing week started with a weakness that eventually caused the bullish idea suggested here in the last review to fail, and the market continued the previous bearish setup to its target, and even more downward. Friday has turned everything up side down by making a bullish kicker pattern with a bullish bar that covered the Read More
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