FTSE 100 explodes to the upside on Wednesday

The FTSE 100 rallied significantly during the session on Wednesday, breaking above the 7600 level. Now that we have done that, the market goes towards the 7700 level as a record this video. The 7700 level looks likely to give way, but we may have to pull back in the meantime to build up the necessary momentum. I believe that pullbacks will be looked at as a potential value play, and with the FTSE 100 flexing its muscle so strongly, I think that we continue to see buyers jump in and take advantage of any short-term signs of weakness.

I think that the longer-term target will probably be 8000, but it’s going to take a while to get there obviously. The 7500-level underneath is massive support, and I believe essentially the “floor” in the market. I believe that the market should continue to see value hunters come in on these dips, and I think it’s all but impossible to short this market until we break down below the 7500 region. The market certainly has been in a bullish tone for quite some time, and I think that should continue to be the case. I have no interest in shorting until we get some type of major collapse, something that doesn’t look likely. Ultimately, every time we dip it’s probably a cue to pick up a little bit more, building a larger core position for what should be strength over the course of the summer.

FTSE 100 Video 10.05.18