Yesterday the FTSE came close to a move through 5360 to confirm a correction has started but couldn't quite make it. The low for the day was 5368. What we did see yesterday though was a negative inside day (we traded within the previous days price range and closed lower than the previous day) and we also saw a failed retest at the previous highs. These are all signs that the FTSE is becoming exhausted and a correction is looming however the Americans are still buying stocks and if so this will push the FTSE higher even though we are over bought.
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