FTSE rallying after yesterday’s weakness
The FTSE 100 sold off sharply yesterday, pushing below the crucial 6893 mark briefly. However, despite this occurring, a bearish view is not in place given the moves we have seen in correlated markets such as the DAX and Dow Jones. Given the depth of this pullback there is certainly a chance we will see another move lower soon and thus a more neutral view is in place until we see how this plays out.
A bearish outlook would come into play should the FTSE break and follow through on a move below 6893. Until that occurs, another leg higher is certainly a possibility.