UK'S FTSE 100
The FTSE, as with so many others, has a nice wedge off the March lows. Like the S&P 500, the trend line from the February high to the June high remains intact. As a matter of fact, the FTSE rejected from it today.
Hmm. Wow, the very long-term chart (below) looks depressing. It has gone virtually nowhere in 20 years. Over 30 years, it has taken the form of a fairly methodical upward-sloping channel with an RSI that was not surpassed by two subsequent higher highs in price (one eked out in 2015 and a slightly more robust one in 2018).
I would expect us to revisit the lower channel, if the world markets fall apart, but perhaps that lower channel will serve at strong support (if we even get there).
Hmm. Wow, the very long-term chart (below) looks depressing. It has gone virtually nowhere in 20 years. Over 30 years, it has taken the form of a fairly methodical upward-sloping channel with an RSI that was not surpassed by two subsequent higher highs in price (one eked out in 2015 and a slightly more robust one in 2018).
I would expect us to revisit the lower channel, if the world markets fall apart, but perhaps that lower channel will serve at strong support (if we even get there).
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