With the FTSE rising over 5% in a few days we would expect a negative reaction at 6000 however the decline may not be deep as some might expect. Often when markets make a clear turning point and start trending it is difficult to climb on board and traders make the mistake of trying to pick tops and go short on over bought conditions. If sentiment is very positive then markets will ignore indicators. This is what we are seeing now. We therefore want to try and go long when we see a retracement.
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