The selling opportunity could still be on from what was discussed a couple of days ago. If it is the case, this is a great area to look for those opportunities. The Daily Pivot is providing support and there is also a level at 7660 which will need to break and hold to give us a chance of a significant move.
Brexit continues to weigh heavily on decisions for the FTSE. Each and every change in the sentiment of Brexit is causing fluctuations in the Pound and subsequently knocking on to what happens to the FTSE.
We are also in earnings season, which to this point has been pretty positive. With so many different potential drivers we need to stay nimble and on top of the News and Data. 9:30 am we get another peak under the hood of the UK economy with the release of Retail Sales. I suspect before the release of this number trading will be very difficult and rangy.
We also have to consider whether the release of this number will make any defined difference on the day, leaving us in wait and see mode for another day or so.
Current bias, is to be patient and let the information unfold to give us more clarity.
Brexit continues to weigh heavily on decisions for the FTSE. Each and every change in the sentiment of Brexit is causing fluctuations in the Pound and subsequently knocking on to what happens to the FTSE.
We are also in earnings season, which to this point has been pretty positive. With so many different potential drivers we need to stay nimble and on top of the News and Data. 9:30 am we get another peak under the hood of the UK economy with the release of Retail Sales. I suspect before the release of this number trading will be very difficult and rangy.
We also have to consider whether the release of this number will make any defined difference on the day, leaving us in wait and see mode for another day or so.
Current bias, is to be patient and let the information unfold to give us more clarity.