FTSE 100

Libero wrote:

Trendfriend wrote:

Paitech wrote: Bit of news:
FTSE 100 jumps as Bank of England takes extraordinary measures

The Bank of England will expand an overdraft-like facility used by the UK government during the coronavirus pandemic, suggesting that it will directly fund additional spending during the crisis.

The increase in the size of the facility, which has not been used to any great degree since the 2008 financial crisis, has not been disclosed. It usually allows the government to borrow £400m.

thanks Paitech...
Is that not Zimbabwe style money printing??

ftse - weekly.
uk.advfn.com/p.php?pid=chartscreenshotsh...S/lEwrxJYLOiSO3Hh+I=

doesn't that look like a bear flag on the weekly??

atb, wdik, dyor,
trendfriend

It defo looks like a bear flag to me! and the BoE / Tres decisions defo look like Zimbabawe (or any developing nation's) actions to me too in fairnes..

The markets see what they want see - until the big reveal.

At the start of the 2007-09 crisis, the SPX dropped a massive amount, only to rally back hard. and then, it dropped again.

Anything is possible.

Have a look at these.

S&P 500. 2008/2009, after drop, rallied 27.26%. Then turned and made a new lower low.
S&P 500. 2020, after drop, it's rallied 27.12%

Interesting.

ftse-daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...Nnv3%2FOI7fBA%2FI%3D

is that a bear flag? has it already broken down? what is that rsi looking like? will the rsi hold support tomorrow?

i think we could well see 5000 here again imho... lets see...

atb, wdik, dyor,
trendfriend

ftse - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...baldVTsgIhKsW%2F0%3D

getting very close to breaking below the t/line and the rsi t/line.

ftse - daily...these are the key numbers if the support breaks down.
uk.advfn.com/p.php?pid=chartscreenshotsh...zeyNPIcPVedDxvE4A%3D

still holding the trendline....so it could still bounce...if it does break below

for the dax the key support looks like 10250 area....
atb, wdik, dyor,
trendfriend

ftse - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...slEhYie4Bs4wS%2FA%3D

This looks like its coming down with quickly now the momentum does look like its shifted. first real test around 5650/5600...

atb, wdik, dyor,
trendfriend

Hey Folks,

Well, nothing but the gap to negotiate all the way to 6400 in the first instance by the looks of things.

Obviously the usual disclosures apply - including a strong sterling which might cause a stall.

Scalps aside, I'll not enter until (if it comes obviously!) it retests 6239 and depending on how strong the bounce from there will be.

As ever, please safe, and please don't stop your expert contributions! (Remo, WaveSurfer, TF - that means you!)


https://ibb.co/NNvKBs1

6375 as I type.

This is hitting the 6400 target sooner than I had expected!

(and no, beyond a scalp, nothing I can write home about. damn!)