Mark Austin FTSE Trading Update - 22 Feb 2011

Good morning

We had the negative outside day yesterday which has created sell pressure under 6000. As mentioned yesterday we also had a close under 6020 (support) , a false break above 6100 and this is all timed around options expiry which as we discussed last week are often pivotal events.

However until we have a break below 5970 (during market hours) we cannot jump the gun. A move below this figure will open up 5900 quickly. We are close now (current market 5978) but I need to see this during cash hours to confirm the trend has turned down.