Stock chart patterns, technical analysis (TA), market commentary and speculative divergence trading. Disclaimer: This blog and all its contents are for educational and entertainment purposes only. Do not trade or invest based on any information seen on this blog. Please read the Terms of Service. The blog only continues if supported by users. Proceeds aid charities.
Saturday, January 7, 2017
FTSE London Stocks Daily Chart; Record Highs; Brexit Rally
The footsie prints record highs last week an intraday high at 7212 on Thursday and closing high at 7210 on Friday. The blue rectangle shows the Brexit vote in late June which was the surprise outcome that the Brit's decide to leave the European Union (EU). Stocks collapse, but, as is the case for the last eight years, the central bankers ride in on a white horse to always save the day. BOE Governor Carney ran to a microphone proclaiming that stimulus would be provided as far as the eye can see and voila, the pound (sterling) collapses and stocks rock and roll to new highs. What a system; it certainly is not free markets or capitalism. If you do not understand by now that the central bankers are the market, you simply are not paying attention. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.