The FTSE 100 continues to be one of the strongest markets I follow, as we have broken above the 7250 handle. This is predicated upon higher export levels, due to the soft British pound. At this moment, I have no interest in selling this market and believe that the 7125 level below is the “floor” in the FTSE 100. I think pullbacks offer value that you can take advantage of and we will eventually try to reach towards the 7500 level. The market is a bit overextended, so I prefer those pullbacks more than anything else.
Market Snapshot – Oil Rises on Supply, Gold Higher on Uncertainty
European Stocks Consolidate at Elevated Levels Despite Rally in Oil
FTSE 100 Forecast February 23, 2017, Technical Analysis
Stocks Consolidate as Oil Slides Despite Solid Confidence Data