Tuesday, 11 August 2009

Has the FTSE topped at 4713?


Some of the technicals like the MACD would say so, but I am not so sure. One thing is unlikely, that the FTSE can go much above this level in this year. My prediction was the FTSE to be flat year on year at about 4400, I still think that will be the case, although it will be more rollercoaster ride up until Xmas.

5 comments:

Blue Eyes said...

I think that shares are still in bubble territory and need to fall another 20% before we get back to their proper olden-days-wouldn't-it-be-great-if-it-was-the-fifties level.

idle said...

Indices could easily go higher in the low-volume month of August.

But after Labor Day in the States, better be short.

Steven_L said...

I'm seeing more companies I want to short than ones I want to buy at the moment. I'm also feeling a bit bearish on the £ and thinking about sticking a wedge into one of those foreign debt funds.

Budgie said...

I see the share price rise more due to a)inflation fears; and b)lousy returns on savings.

I am still non-plussed by the extent the 'West' uses debt for current spending. There will be no sustainable recovery until we kick the habit.

But neither do I think China is about to sink the USA, as the doom mongers predict.

Anonymous said...

Depends on how much more stimulus is thrown at the wall by UK, US, China, and in fact, damn near the whole planet.

There is a massive leak into equities and commodities and other assets.

This tells a story

and

this tells another one, but similar