All the technicals on my charts are giving me sell signals at the moment. the FTSE has stormed for 11 days straight and broken out of the 4200-4500 range but is rapidly losing momentum.
Despite good results from the banks, further good news with land registry reporting house rises etc I can't help but be a little bearish and overly cautious.
My portfolio is often a good indicator as generally it moves in reverse to the FTSE and it really has started picking up too so a lot of data and a lot of mixed signals..... i will however be opening a short if the FTSE starts retracing to 4500 and tests this level but I will be keeping my stops very tight indeed and not moving them out if the trade starts going against me.
Views on this topic welcomed!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment