FTSE 100 (UKX) 2 Day Up Streak Snapped; in a Downtrend Over Past 90 Days

FTSE 100 Daily Price Recap

FTSE 100 entered today at 5752.23 in US dollars, down 1.28% ($74.38) from yesterday. Relative to other instruments in the 8 major global equity indices asset class, FTSE 100 ranked 5th since yesterday in terms of percentage price change. The daily price chart of FTSE 100 below illustrates.

FTSE 100 Technical Analysis

Volatility for FTSE 100 has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe. This may setup an interesting opportunity for traders looking to sell rallies in anticipation of the primary trend resuming. For additional context, note that price has gone up 18 out of the past 30 days.

Overheard on Twitter

Behold! Here are the top tweets related to FTSE 100:

  • From RonnieChopra1:

    Weekend equity prices by IG have been in an extremely narrow range this weekend. Dow and FTSE 100 indicating a fall of 0.1% approx from Friday’s close. A far cry from the volatility of the last few weekends. Some normalcy returning to the markets? Big week for US earnings though!

  • From paddocknetworks:

    @AM81552284 @EdwardSouth4 @SkyNews The Dow Jones is in the US, you should focus on the FTSE 100 but even that’s not representative of the economy as a whole. Like I said, some industries are being hit hard but the economy is huge and will get back on track.

  • From jkeycomms:

    @rolandbarfs Earnest response: 1. Money is literally fake 2. The FTSE 100 gets 70% of revenue from outside the UK and is very sensitive to changes in the dollar so this is a slightly meaningless comparison 3. Microsoft probably actually is more valuable than those 100 companies