FTSE 100 Index Forecast August 23, 2012, Technical Analysis

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The FTSE 100 rose during the session on Wednesday as the consolidation continues. The market looks relatively healthy, but we have to admit we are getting close to lofty highs that will more than likely keep a bit of a lid on prices.

Because of this, we feel that the London markets will be somewhat sideways going forward, and the fact that the Federal Reserve looks likely to ease going forward will more than likely send money into the United States as stocks will get a bit of a boost. Because of this, this market may underperform the S&P 500 by just a bit.

However, we get over the 6000 level we think this market is trying to absolutely explode to the upside. At that point in time we would be buying British high beta stocks such as the banks or even high-growth companies. As for shorting the market, we do not see the situation as being conducive to take that kind of position.


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About: FX Empire Analyst - Christopher Lewis

Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.

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