After a flirt with 2018 lows, the UK Index rebounded by almost 350pts/5%, and, more importantly, regained the channel from which it fell at the beginning of the month. We may have back-peddled from today’s 7195 recovery highs, but the Bulls are still motivated by the strength of the rebound and the prospect of revisiting…
Taking a look at the UK 100 ’s winners and losers for the week can serve as a good gauge of how investor sentiment is tilted into the weekend. Following a global equity rebound, the UK’s blue-chip index having bounced 350pts from a flirt with 2018 lows, you might well presume the pendulum has swung…
One of the biggest intra-day movers on the UK 100 this week was engine maker Rolls-Royce. It’s not the biggest riser or faller today – those “honours” belong to Paddy Power Betfair (+2.4%, rebounding from recent lows) and Evraz (-8.4%, disappointing Q3 production), respectively – but it captured the buzz of the trading floor this afternoon….
They say that a market correction requires a fall of at least 10%. So far, at 6885, the UK Index has fallen 9.1% from September’s 7560 peak. A revisit of 2018 lows of 6840 would take it to 9.6%. Some would say this is enough, especially after a 13% fall from May’s 7900 record ….
All of this has happened before. Price action on the UK Index chart over the past 2 weeks might look unprecedented, but history shows that corrections such as these occur regularly and lessons learnt from past bear markets can help us spot tradable opportunities for the future. I don’t even have to dig too far into…
After a painful bruising the UK Index received the previous week, we have mostly seen sideways movement on the benchmark index since Monday. The index has been trading in a fairly tight 6960-7098 range, though London’s blue-chips are off their worst October levels. As the week comes to a close, traders are looking for a…