Thursday 26 May 2011

FTSE Friday 27th May 2011

Falling trend on the daily.  Market has rallied since Wednesday and is heading towards the upper trend line around 5960.  If it meets the upper line today short, stop at 6020, T1@5900,  T2@5860, T3@5790

Note.  At the beginning of Feb there was an identical down trend.  The market rallied all the way up to 6100. so might be smart to get out early if the trade breaks the upper trend.