FTSE Forecast August 17, 2015, Technical Analysis

The FTSE initially tried to rally during the session on Friday again, but just as we saw on Thursday, sellers came into the marketplace and pushed the index down. With that, we feel that the FTSE may breakdown fairly soon, but also recognize that there is an uptrend line just below that could keep this market somewhat afloat. If we can break down, we feel that the market will probably reach towards the 6500 level next, and then perhaps as low as 6450. At this point in time, we recognize that the time a year lends the markets to look for selling as liquidity just simply isn’t there.