We saw a flying start to the FTSE yesterday linked with expiry. One thing to note is the move was backed with far lower volume than we have seen on similar sized moves to the downside. This indicates the sellers are still firmly in control of this market. Its also typical of the last 10 days of August when the large players take a break and low volume enters the market.
Last week we had a very clear wave count however I wanted to see immediate selling at the open yesterday to conclude the move.
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