FTSE Outlook for 14th July 2009

Tragedy! Our target of 4091 was missed by a mere 5 points! The lowest FTSE got to today was 4096 and from there it bounced pretty convincingly.

But is this the end of the fall? For the very short term, perhaps. But I will keep an eye on the red diagonal. FTSE has touched that before and turned down. If there is a strong downtrend in play, chances are that another touch of the red diagonal will send the index hurtling down further.

Projected High: 4,262.28 (60.15 points)
Projected Low: 4,149.11 (53.02 points)

Bullish above 4,212
Bearish below 4,191