FTSE 100 (UKX) Moves Up For the 2nd Day In A Row; in an Uptrend Over Past 30 Days

FTSE 100 Daily Price Recap

FTSE 100 is up 0.97% ($55.98) since the previous day, marking the 2nd day in a row it has gone up. Relative to other instruments in the 8 major global equity indices asset class, FTSE 100 ranked 4th since the previous day in terms of percentage price change. The daily price chart of FTSE 100 below illustrates.

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. Traders will also want to note, though, that a counter trend — meaning a trend going up — can be seen 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 another vantage point, consider that FTSE 100’s price has gone up 9 of the previous 14 trading days.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to FTSE 100 for the past day were:

  • From truemagic68:

    At 4.18pm, despite the dire PMI readings in US, UK & Germany and another 4.4 million people applying for unemployment benefits in US in today’s Initial Jobless Claims – FTSE 100 is +52 points at 5823 & DJIA is blazing the trail – at 23,801.59 +325.77 (+1.39%)

  • From kushkatakia:

    Such extraordinary comparisons should make investors pause for thought. How sustainable is it that the biggest stock, Microsoft, 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 7815PWK:

    @DamianFromDerry @BBCTalkback If the minimum wage had risen since its introduction at the same rate as U.K. FTSE 100 CEO pay it would be over £20 an hour today. People are being robbed by a rigged system

In terms of news links for FTSE 100 here’s one to try:

FTSE 100 bounces back supported by oil price rise – Reuters

The commodity-heavy FTSE 100 .FTSE outperformed its European peers, closing 2.3% higher after cratering oil prices knocked 3% off the index on Tuesday….[O/R] The FTSE oil & gas index .FTNMX0530 rose 5.5%, while other cyclical sectors such miners, banks and insurers were all higher.