POTENTIAL SWING SHORT OPPORTUNITY ON FTSE @ 5850-60

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There have been some decent dividend payments in the FTSE 100 today that is worth around 26 pts on the index (so you need to add this back to get the true move today).

Looking at the FTSE relative to the S&P 500 below over the last 10 days I think that a reasonably high conviction 1 -2 day short opportunity could present itself around 5850. We will open a position at this level with a stop of 5889 – our thinking that the 6000 level will likely act as a magnet here over the next few weeks.

FTSE v S&P 500 past 10 days


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