FTSE Technical Analysis

As the FTSE Futures near important resistance levels, the Year’s highs, we posted a comment this morning that started off in our normal level headed manner, then descended into something of a rant! Here it is for all to share!!!

“Today could be all about 5950. A hold above here keeps the bulls in the box seat and suggests we can head to 6030 then 6086.5″.

Stop there! Say no more. We held 5950. We bounced from a low of 5968 to hit the heady heights of 6033.5 by the day session close, getting up to 6039.5 in the after hours trade, and 6044 in today’s overnight trade.

So we are seeing off 6030 and now have our eyes trained upon 6086.5-87.5, the February high. This rally is on low volume. Back it while it lasts, but don’t be surprised if it doesn’t, and don’t come crying to me if it falls over, because I’ve been worrying about this and warning about it all the way. Houses built on sand don’t stay up for very long. Rant Over. Enjoy the Wedding!

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