The FTSE 100 is tapping our unconfirmed trend line – actually it’s more of a “line of interest” which we calculated a few months ago. The stock index has also broke through an upper unconfirmed trend line and breached a potential downward channel.
All of this is occurring at the same time overseas travel restrictions are being enhance in the UK and entertainment is being closed in Europe. Go figure that! The mainstream press are obviously struggling with a tag line today as we’ve not seen “FTSE 100 rallies due to concerns over Omicron” – LOL!
All of this increases the risk on our short and the probability that the FTSE 100 is making it’s run up to our “big red line”
The other major stock indices, such as the SPX 500, are showing similar “strength” this morning which makes it imperative to control risk.
Please Donate to help keep our analysis FREE
The content on this site including products sold in our store and our posts on Twitter, Facebook, Instagram, Pinterest, Linkedin and any other site or medium are not investment advice. If you wish to trade or invest based on our analysis you should do so with great caution and consult your financial adviser. Remember never to invest or trade more than you can afford to lose.