FTSE 100 4 Hour Price Update
Updated September 15, 2020 11:14 PM GMT (07:14 PM EST)
FTSE 100 is down 0.46% (27.99) since the last 4 hour candle, marking a reversal from the candle prior — and the end of a 3 four-hour candle positive run. Those trading within the equity indices asset class should know that FTSE 100 was the worst performer in the class the current 4 hour candle.
FTSE 100 Daily Price Recap
FTSE 100 entered today at 6026.25, down 0.1% ($5.84) from the previous day. Relative to other instruments in the equity indices asset class, FTSE 100 ranked 13th since the previous day in terms of percentage price change. The daily price chart of FTSE 100 below illustrates.
FTSE 100 Technical Analysis
The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For another vantage point, consider that FTSE 100’s price has gone up 15 of the previous 30 trading days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
Overheard on Twitter
Over on Twitter, here were the top tweets about FTSE 100:
- From simonjgarrett:
@bbcpress @GaryLineker The average boss (& many are pretty average) of a FTSE 100 company earns about £4 million per year and Denise Coates at Bet365 gets £323 million so why on earth do people pile on to @GaryLineker who’s paid to entertain rather than make money from the rest of us? Don’t get it.
- From hbinfopeter:
@Robin25461631 @Smudgedann @marketgem @Borg74 Not in the class of Polly Peck! PP was a tiny British textile company; expanded rapidly in the 1980s and became a constituent of the FTSE 100 before collapsing in 1991 with debts of £1.3bn. market capitalization went from £300,000 to £1.7 billion at its peak..it was all a fraud!
- From truemagic68:
News that Nvidia is to buy ARM from Softbank for circa $40bn & with Tik-Tok preferring for choice to bed down with Oracle gave Asian markets a modest fillip – Suggested European opening calls– FTSE 100 -27 at 6053, DAX +100 at 13279 CAC40 +32 at 5066, DJIA +250 at 27888 at 6.00am
As for a news story related to FTSE 100 getting some buzz:
One of the recent options giants, Apple, saw the stock continue lower as well as Apple volatility moving lower, VXAPL….On Aug 31 we wrote; “If this Apple trajectory is defying logic or not we leave to others to discuss, but overwriting longs with some upside calls here does look interesting, …” We all know what has happened since then, Apple has gone down, and Apple vol has moved lower, the perfect environment for the ones that used elevated vols to overwrite “must be longs”….Below chart shows Apple and Apple vol, VXAPL….Imagine NASDAQ holds here, puts in a big hammer candle, people come back from the long weekend, realize nothing has really changed as “whale gamma” is just another of many trades, people start buying the market…and vol starts selling off….Our point here is that NASDAQ and equities could well be going lower, but unless it is a crash about to happen, vols are not cheap here….We prefer much more to overwrite longs here (use that elevated vol) than chasing expensive vols…especially given the fact our VIX guy just called us earlier today explaining “vols must rise further given how Apple and Tesla are trading post the split…that was supposed to be positive”.