FTSE 100 (UKX) Down 2.96%; in a Downtrend Over Past 90 Days

FTSE 100 Daily Price Recap

FTSE 100’s 3 day positive streak has officially concluded, as the candle from yesterday closed down 2.96% ($171.8). Relative to other instruments in the 8 major global equity indices asset class, FTSE 100 ranked 4th since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of FTSE 100.

FTSE 100 Technical Analysis

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. Or to view things another way, note that out of the past 10 days FTSE 100’s price has gone up 6 them.

Overheard on Twitter

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

  • From Greyhound_Bluey:

    @RumblesOfSteel “Doing your best” is not enough if you are totally inept. We would all “do our best” if we were PM, MD of a FTSE 100 company, centre-forward for England, whatever. Would it exempt us from criticism if we screwed up.

  • From ZorTrades:

    How sustainable is it that the biggest stock, Microsoft, MSFT -1.98% is closing in on the value of the whole of London’s FTSE 100, an index that includes global giants such as Royal Dutch Shell, HSBC and Unilever ?

  • From truemagic68:

    Apple ( share capital value $1.2 trillion) & Amazon (share capital value $1.1 trillion) are worth more than the entire FTSE 100 companies £1.46 trillion. And behind those two US moguls come Microsoft and Intel!

As for a news story related to FTSE 100 getting some buzz:

Oil shock, dire forecasts knock UK’s FTSE 100 lower – Reuters

Investors were on edge after U.S. crude oil futures for delivery in May fell for the first time on Monday to as much as negative $40 a barrel, with sinking oil demand since the start of the coronavirus outbreak squeezing storage facilities….Analysts are forecasting a 22% drop in earnings for companies listed on the pan-European STOXX 600 index , according to Refinitiv data.