Evening folks. Today’s move was a surprise. looked at the index’s tanking last night and thought. Stay out of it. Glad I did. The DAX and Ftse seem to have disconnected themselves from the Dow. Looks like the ECB QE is pushing the index’s up. Though how that effects the Ftse I’m not sure. 6900 will be the crunch figure and worth a short with a stop of 50 Points.
I don’t think the Greek situation has played out yet. Alexis Tsipras has made a lot of promises to a population that voted with their hearts and not their heads. The ECB will not give in. They may give more time but they cannot be seen to just forgive the debts just because another government has been sworn in. He may well fall on his own sword now that he is running the show.
In the mean time todays high after close is about where I was expecting the ftse to go tomorrow so we may get a dip into the morning before another rise when the dow wakes up.
The chart below is a bit of a long shot but there’s very little at the moment that is pointing to a good set up