When I last wrote about “Averaging In” the UK 100 was in the midst of a 16% Aug-Dec decline towards Christmas lows. This time, I hope the current 4.5% sell-off is a mere correction within 2019’s recovery rally (15% so far). So I hope we’re close to the bottom. Because we all want to buy at…
This week the UK 100 extended its pullback from 2019 highs. It even broke below 7400 to abandon its post-Christmas rising channel. However, February rising support came the rescue at 7319 to stem the declines and keep the uptrend alive. However, that breached 5-month trend-line has already served as resistance today. And falling highs are compounded…
The UK 100 has pulled back 1.7% from fresh multi-month highs of 7530, its best since early October. Declines, however, were stemmed Thursday/Friday by shallow April rising support at 7400. This offers potential for the index to bottom out further next week. Perhaps until it tests the post-Christmas rising support trendline itself at 7385. That…
The UK 100 index continues to consolidate 7437-7480, pausing to digest the latest March/April leg higher within a pre-existing 4-month up-channel. After last week’s Brexit delay boost, the index has failed to benefit from any additional GBP weakness. Results season has also yet to provide any big name influencers to help drive the index above the…
The UK 100 index has bounced off the floor of its 3-month up-channel. This comes thanks to fresh GBP weakness, driven by uncertainty about Brexit. If the PM fails to push her deal through Parliament, to delay Brexit until May, and another round of indicative votes on Monday fail to deliver a Commons consensus, the…
The UK 100 index has pulled all the way back to the floor of its post-Christmas rising channel. This comes on the back of GBP strength, driven by poor macro data from the US and Eurzone which hurt their respective currencies. A Brexit delay has also given Sterling a boost, pulling the UK Index ‘s…