Talking about market timing, when you read my indicators you get a good indication of the short term direction of the FTSE 100. Here is an example of a bullish signal:
We went long FTSE 100 on 13th March, this is what I said to my members:
The decline is a fourth wave….The 200-day moving average is at 6689, this level is strong support this is why I expect wave 4 to end near that level….The BTI is up which can be interpreted as bullish…6694 marks the bottom of wave 4 of an ending diagonal [1,2,3,4,5]…The Top 20 Differential is oversold (bullish)…The next target is a 7000 for wave 5.
That was the chart I published:
This gives you a good idea of the short term direction of the FTSE 100. When most indicators are bullish the FTSE 100 has an increased probability of going up. These indicators are very reliable, they have been used for many years and they make money!
But today volatility will be high at 6pm when the FOMC meeting minutes are released, this is an important announcement, so many investors focus on the direction of interest rates. If the statement hints at an early rise in interest rates, the stock market will sell off.
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Until next time