Francis Hunt from Market Sniper was on our Finance show squashing squashes the fear mongering via his pointed and precise technical arguments. Hunt says the is lagging indicator and being above 70.00 is merely a sign of exhaustion and at the most an indication of a healthy correction.
Check out the video here - http://www.tiptv.co.uk/ -
He correctly points out that multiple timeframes have to be studied and a sensational forecast like calling a crash cannot or should be made on the basis of daily . Hunt goes on to detail the developments in the multiple Footsie timeframes.
What we can conclude is that there is little substance in the scare mongering and that FTSE100 could be in for nothing more than a healthy pull back.