Our analysis remains the same as per yesterdays report. The FTSE is on target to hit 4800 whilst the market trades below 5406. A few key points today:
Its dividend Tuesday - The dividend is only 1.5 today however the FTSE generally finishes positive on these days. If we closed down for the day that would be a bearish sign and re-enforce the case for a sell off towards 4800 in the near term.
There is a FOMC meeting scheduled tonight (after the FTSE closes) and again rumours are circulating that Ben Bernanke will announce new liquidity measures (QE3).
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