Today was an absolute shocker on the markets with the FTSE100 falling near 3% after a couple of weeks of similar falls. What really concerns me is that it appeared Support for the FTSE100 price was building at 6300 but that failed today. In addition, the Relative Strength Index (RSI) was already very low below 30 and the price has been sat on the bottom Bollinger Band and continues to fall. You would sensibly expect a rally with such Oversold conditions - this has been the pattern for probably the last 2 to 3 years.
This is my first proper Blog entry - my intention is to make these regular Posts and build this up into a comprehensive reference resource within the WheelieDealer website.
There are 2 topics I wish to address today - Hedging with the FTSE100 and Cash for Panic Stricken markets.
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