As mentioned yesterday the FTSE has started the week in consolidation mode which is not that surprising given that we are in May, historically a ''sluggish'' month for the stock market.
Given the failed retest at 6000 yesterday I am at this stage inclined to move any stops for longer term ''long'' positions to an end of day close below 5900. We are still in an over all up trend so buying this market is still preferable however I remain slightly cautious until I see acceptance over 6050 again.
Its also worth noting the FTSE will report one of the biggest dividends of the year today, standing at 12 points, so if we are to see this index act like its still in a bull market it will be today.
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