The FTSE 100 is nicely following our forecast but is the FTSE heading for a new high before 2021 is out?
Firstly looking at price. The FTSE 100 stands at 7303 at the time of writing this blog and the bottom end of our short entry zone is around 7350 – easily achievable. We think this is probably too low to enter a short and would prefer to enter around 7450 to 7500 to minimise risk and increase profits. Over the coming days we will adjust this zone as movements on the FTSE 100 become clearer. We may even enter the trade slightly earlier if the FTSE spikes.
Secondly looking at timing. We are pretty good at getting the timing of cycle swings correct. For some time we have seen a top of a swing around the end of November/ beginning of December and this appears to be playing out. What we don’t know is whether this is a medium term top – no one does. If the FTSE 100 Index gets up to our short entry zone we’ll carefully study how it reacts which will give us a better idea of where it is going from there.
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