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UK General Election Forecast 2019

FTSE 100 and Dow Jones Stock Market Analysis and Outlook

Stock-Markets / UK Stock Market Mar 19, 2007 - 11:45 PM GMT

By: Nadeem_Walayat

Stock-Markets

The FTSE last week fell and hit its target of 6000, followed by the anticipated bounced as summarised below. (Article - 13th March 07)

FTSE 100
The FTSE 100 is targeting 6000, there is a strong probability of the FTSE holding 6000 (5990 low). Further downside appears limited in the immediate down swing.

The FTSE continued its rally on Monday to complete the target requirements for the bounce from 6000. I.e. to effectively put in a lower high, and therefore now again targets a trend back to 6000.


However, the trend is expected to be more volatile on the way down as the FTSE has built up support in the region 6145 to 6086.

Immediate resistance lies at 6225 and next at 6280.

A revisit to the 6000 low is likely to break this time, with the FTSE now targeting a trend to 5925.

The scenerio would breakdown should the FTSE break above 6225, which would then target 6280.

In Summary - The FTSE 100 Index on break of 6165 is again targeting a downtrend to 6000, which on being reached is likely to break to target 5925. The Key resistance level that is expected to cover the downtrend is on a break of 6165 is 6225.

 

Dow Jones IA

The Dow managed to end the week above the 12000 level at 12110, however the targets in last weeks analysis still remain -

Dow Jones
Dow Jones is targeting a down swing to between 11,650 and 11,750. (13th March 2007)

The Dow Jones on Monday closed at 1226, and despite being near the high for the day is expected to resume its downtrend towards 11,750 this week. Immediate resistance lies very near by at 12,260, with key resistance at the previous high of 12350. A rally to above 12350 would therefore negate this near term view. The nearest triggering level to confirm the end of the current immediate rally would be a decline below 12080 or some 45 points from the current close.

In Summary - The Dow Jones Index continues to target a move to below 11,750, with key resistance at 12,350, and the nearest price trigger required to confirm the downtrend at 12,080.

By Nadeem Walayat,
Editor of The Market Oracle.
Copyright © MarketOracle.co.uk 2007

The Market Oracle is a FREE Daily Financial Markets Forecasting & Analysis online publication. We aim to cut through the noise cluttering traditional sources of market analysis and get to the key points of where the markets are at and where they are expected to move to next ! http://www.marketoracle.co.uk


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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