The FTSE is in a clear downtrend at present and we have lots of selling pressure at 5700-5710 which is where a layer of stops was previously present for traders who were long in the market. More selling can be expected towards 5580-5500 in the medium term. In the very short term we have thanks giving week in the USA and this often attract buyers. The FTSE also closed on its lows on Friday which although is very bearish it also indicates everyone is already short in this market [Read the full report]
When I met Mark I was enormously impressed with his FTSE trading abilities, so much so that I decided to recommend him to my clients. John Piper
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