FTSE 100 - index prepares for bumper run to 10k

This is a macro outlook into late 2024.

On the above 3-month chart price action has been trading under resistance since 1999. A significant development has now occurred. That resistance after 22 years has confirmed as support.

Isn’t there a recession coming?

Since the UK imposed economic sanctions on itself in 2016 (A world first believe?) there is a growing realisation that extended dependancy on external resources will mean accepting higher and higher costs for everyday goods and services. Much like the US, the UK is about to enter a period of internal investment as it seeks to rediscover why protectionism does not work. You would think with so many history graduates in parliament..

The Macro outlook for the FTSE 100 is fascinating. Many many stocks are oversold in the FTSE 100. Not all. But a great many are with little to no ideas published on them. Identifying this trend a couple of years ago, the ideas on Rolls Royce and Centrica were published (attached below), now up 100 and 200%, respectively. However you will notice such performance does not apply equally across the index. My belief or rather hours of study informs us selecting the correct stocks will outperform over the next 2 to 3 years. Already have begun to identify them.

The TA..

On the chart we have:

1) Macro higher lows forming an ascending triangle.

2) Price action printed the first macro higher high in October 2017.

3) Inverse head & shoulders pattern with confirmation and 10k target.

4) The 3-month hammer candle. 10 days until it closes. IF it closes as is, it will be the shot that starts the race.

Is it possible the index corrects and crashes as everyone suggests? Sure.
Is it probable? No.


Type: Investment
Risk: 30-40% exposure, you don’t want to sit this one out.
Timeframe: Long between now and end of year.
Return: 30%


Weblink: www.patreon.com/withoutworries

Allow 3-6 months on ideas. Not investment advice. DYOR

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