After 4 days closed the FTSE will open for the first trading day of a new month. Traditionally bullish days with funds committing new monies.
The FTSE has now made new highs above 6106 on 2 occasions but out of hours. We have yet to see the index make a new high above 6106 during official cash hours (8am-4.30pm). A daily close above 6106 will be a ''triple top'' break out and this will support positioning long on the next pull back with stops at 5840. Ideally any pull back will be just under the Moving Average 20 which is positioned at 5970 on the weekly chart.
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