The UK 100 remains in a sideways channel (slight downside bias), continuing to correct from recent 7260 highs, back towards the floor of the post-Christmas 7020-7400 rising channel. So it could be that we extend the bounce from today’s lows, back towards 7200. On the flipside, it could be that we need to correct further,…
The UK 100 remains in a short-term falling channel, closer to the bottom than the top of a longer-term post-Christmas 6975-7350 rising channel. This week’s 7040 low equates to a 3% pullback from recent 7260 highs, consolidating the 11% rise from December’s 2018 lows of 6600. However, it has yet to revisit the channel floor…
The UK 100 remains near the top of its post-Christmas 6900-7300 rising channel range. That said, we are also in a shorter-term down channel towards 7100, consolidating the 11% rebound from December lows. If we do fall back to around 7100 (-2.2% from highs), fear not. This merely opens the door for a rebound off…
The UK 100 has extended its post-Christmas rally from 6600 to touch 7250 today. That’s 11%, of which 2.5% today, and showing interest in making a bullish break from that rising channel. If it does, there is potential to power on towards September highs of 7555, which would represent another 4.2% rise. Looking at…
“I’m waiting for Brexit”, said the client. “What exactly are you waiting for?”, I asked. “To see what happens”. How will you profit from waiting? “What do you mean?” What’s your strategy for making money from the stock market while you wait? “I’m waiting for share prices to drop on Brexit day, so I can pick up a…
The UK 100 has extended its January rally by another 60 pts into the first week of February. That said, the benchmark index is also 110 points (-1.5%) off Thursday’s 7188 peak, having encountered resistance in the form of November’s highs. Much of this week’s rally was courtesy of Energy names (BP’s outstanding results pulling…