I'm Calling The Top In The FTSE 100

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The Financial Times Stock Exchange 100 Index, also called the FTSE 100 is a share index of the 100 companies listed on the London Stock Exchange with the highest market capitalization.

A third of FTSE-listed general retailers have issued profit warnings so far this year, according to research by EY highlighting the growing strain on the sector.

EY also warned that retailers face rises in business rates on their property and higher labour costs.

Travel and leisure companies have also been under pressure with a quarter of FTSE-listed firms in the sector issuing profit alerts.

'Renewed weakness in sterling or disruption to food or labour supply linked to Brexit could trigger a further wave of profit warnings,' EY added.

Source

Yes, the news and the profit warnings are bad, but that's not why I'm calling a top in the FTSE 100.

The biggest advantages of trading the higher time frame charts are price action gets filtered, meaning the market noise and false signal are drastically reduced, allowing for the bigger picture to be clearer. As a result, trading signals become more accurate when trading on the higher timeframes.

I consider myself a swing / position trader, which is why my multiple timeframe analysis is usually the monthly, weekly and daily charts. I use the monthly charts to tell me the trend, while the weekly tells me the momentum and the daily is where I refine my entry points.

The FTSE 100 is showing something I have not seen in a very long time. Can you see what I'm see?

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This is a level on level supply zone on the monthly chart. This is the strongest supply and demand concept . The chart suggest, price will go done to at least the monthly demand. The confirmation, will be if price bounces off the monthly demand, then continues to head lower.

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