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Thursday, 2 October 2014

FTSE downtrend has started

The FTSE downtrend has started. The American markets will follow suit, no doubt, when they open later today.

Click to enlarge image.

For 3 years the FTSE100 has kept above Support Line C. It has now crashed through that support, indicating that a downtrend is under way. The last FTSE Bear-market lasted from October 2007 to February 2009. The present one may be swifter than that, being, perhaps, a response to expectations of increased interest rates rather than economic recession.

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