A clear break above 6067 was made on Friday and we are duly trading higher. Technically the FTSE is positive whilst we trade above 5990 but at the same time a pull back is needed. On the daily charts we are trading well away from the Moving Average 8 (the market often pulls back to this moving average after an extended move) and the RSI diverges negatively against price. The risk for a correction to the downside is therefore high so although the market is positive I am not keen buying at levels near the 2011 highs [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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