FTSE 100 is struggling above 6390

10/20/2015

FTSE 100 is struggling above 6390

The FTSE continues to struggle above 6390, the 13-day BTI is still overbought and the next logical move is down. As I predicted mining and oil stocks are pulling back and dragging the FTSE lower. You must remember that when a sector is in a bear market and prices surge and the Top 20 Differential is overbought, the odds of a pullback in the FTSE increase significantly. We are in the midst of the US earnings season and a number of blue chip announcements disappointed investors. Less demand from China translates in lower earnings. Growth concerns remain, metal and crude oil continue to decline following the weak Chinese industrial production report. It’s not easy to boost growth with billion of dollars.

To receive regular analysis and trading signals on the FTSE 100 subscribe to Better Trader

Posted by Better Trader on 10/20/2015 at 08:23 AM in Elliott Wave, FTSE 100, Key Levels, Research, Technical Analysis | Permalink

Comments

You can follow this conversation by subscribing to the comment feed for this post.

Verify your Comment

Previewing your Comment

Posted by: |

This is only a preview. Your comment has not yet been posted.

Your comment could not be posted. Error type:

Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Post a comment

Comments are moderated, and will not appear until the author has approved them.

Your Information

(Name is required. Email address will not be displayed with the comment.)

Name is required to post a comment

Please enter a valid email address

Invalid URL

Better Trader

10/20/2015