Windlesham1
Established member
- Messages
- 532
- Likes
- 60
Is the FTSE fixed or broken? It is defying gravity yet again-we haven't had a real correction for years! April was not a real correction,and yesterday-well that's been wiped out. All I see is fund managers piling in with other people's money,when indicators and valuations are at highs and expectations are at lows. Methinks it's getting carried away on the back of an interest rate cut.
danfreek
Active member
- Messages
- 184
- Likes
- 2
I think you're right Windlesham, April was such a minor move. Expected rate cuts would be a good reason that the FTSE is pushing higher, as would expectation of high earnings from oil companies. All I know is that higher prices are always possible, and until the FTSE gives a solid sign of change, I'm not going to argue with the trend. I'm not long at the moment though as I haven't had a signal to go long.
danfreek said:
Many thanks,
yeah the ftse, from the lows in mar 03 there is an uptrend but the highs seem to be limited on a sloping line (as are the lows), the two lines are converging, the retracement from tuesdays high seems to be confirming this (although the top would be currently at about 5275) so maybe a bit more upward movement, then should we lose the bottom line (Currently about, 4925) we could be looking at the ftse trading back at the 3500 level.
If you look at a 10 year graph the last two years movement looks like a consolidation of the previous down trend.
This is just one point of view, not one I neccessarily adhere to, just wondered if any one else had noticed this.
Thanks for the time
johnuk
