melson
2022-10-23

$British Pound - main 2212(GBPmain)$gbpusd has bounced off its historic low made in 1984. historically, the ftse100 is a leading indicator of the us market. so let's take a look at $S&P 500(.SPX)$ (blue line) compared against ftse100 in orange line. you can observe that ftse100 starts to crash or weaken before spx crashed. the light green line is the lower highs made by ftse100. 

ftse100 (pnf) compared with gbpusd (purple line) shows that gbp has to rebound first in order for ftse100 to recover. 

ftse100 has just bounced off a support at 6900 region. it has bounced off this resistance zone for a couple of times already.

if gbpusd can make a new high, then it is confirmation that ftse100 will rally and thus spx will rally. 

bon courage

Truss: Only 45 Days as PM - Any thoughts?
From September 6 to October 20, Truss was in office for only 45 days, the shortest tenure of a British prime minister. Her mini-budget almost vaporated $500 billion in the British stock and bond market. 【Topic】 What do you think of UK's stock market? Who will become next PM? 【Rewards】 Every Tiger whose posts have more than 50 characters will be given 50 coins!
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • Maria_yy
    2022-10-25
    Maria_yy
    I didn't realize there was a connection between these breeds.
    • melson: 
      the market is interconnected
  • MortimerDodd
    2022-10-25
    MortimerDodd
    It seems we can remain optimistic about the stock market outlook.
    • melson: 
      in the short term the market is severely oversold, ripe for a rebound rally.
  • BellaFaraday
    2022-10-25
    BellaFaraday
    I don't think sterling can rally much further.
    • melson: 
      sterling will have support if the new pm has economic sense
  • PandoraHaggai
    2022-10-25
    PandoraHaggai
    6900 is a key location for ftse100.
    • melson: 
      let's see if the new pm makes the cut
  • EvanHolt
    2022-10-25
    EvanHolt
    The ftse100 is really a reference for us.
    • melson: 
      traditionally used as a leading indicator
  • Patmos
    2022-10-23
    Patmos
    Exce llent Art icle
Leave a comment
60