FTSE100 has closed once again above 6800. A follow through next week will give a target of 7500 in 2014. FTSE has often found a top between mid March and mid May.
Bull case would see the market holding around 6800 for the next 3-4 weeks and then a move up to 7200-7300 my mid May before a small summer pullback to 7000 and then another 500pt rise to 7500 in Q3 2014.
Bear case would see the 6800 act as resistance with small pullbacks in March to 6400 and bounce back to 6800 in early summer, before a bigger fall in the 2nd half of 2014 down to 5400
So let's see how the market is at the end of Q1 2014...................
Bull case would see the market holding around 6800 for the next 3-4 weeks and then a move up to 7200-7300 my mid May before a small summer pullback to 7000 and then another 500pt rise to 7500 in Q3 2014.
Bear case would see the 6800 act as resistance with small pullbacks in March to 6400 and bounce back to 6800 in early summer, before a bigger fall in the 2nd half of 2014 down to 5400
So let's see how the market is at the end of Q1 2014...................
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