Troubling Trends in the FTSE 100

Over the last week, the FTSE 100 has put in a mixed performance. The UK’s leading index had struggled to get towards 7,400 - and there seems to be muted trading for a lot of companies in the index. Ideally, in a thriving market we would see movement on a large number of shares, but over the last couple of weeks, the FTSE 100 has seen just 10 percent of shares generating enough activity to make it worth paying attention to.

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shareprices.com - Tuesday, November 21, 2017

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The way the market is behaving right now is reminiscent of the summer. There’s an often repeated adage for market traders - sell in May and go away - because the markets are dead through June to August. At this time of year, however, we should be seeing activity, rather than the index trading flat like it is right now.

If the FTSE 100 were to break through its current level, and get to 7,560, then it could continue upwards to 7,680. In the longer term, it could make it to 7,890. Of course, if the markets go the other way, then there’s a long way to go before we see support - with the technicals suggesting a bottom of 7,220. If this is the case, then it points towards a poor end to the year. While Bitcoins are showing unfettered optimism, the trend for the FTSE 100 seems far more reserved - as if it’s just adopting a “wait and see” stance in the run up to Brexit.

 

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