There is no change to our outlook for the FTSE 100. The FTSE 100 Index is moving within the forecast – consolidating as expected. Consolidation may continue for a few more days but beyond that, the forecast expects general upwards travel towards our short entry zone before the year end.
At this stage we wouldn’t consider entering any new positions on the FTSE 100 as the risk/ reward ratio is poor.
If the FTSE was to correct sharply in the coming days there may be an opportunity for a long but that would be in the region of 7100 to 7145 with quite a narrow time frame opportunity.
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