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Is the panic over?

Sun, 11th Oct 2015 Leave a comment

Chart of FTSE-100 at 9th October 2015The FTSE has rebounded strongly now and, although we didn’t get the spike minimum I called in my last post, it looks like I was right to call the bottom. I’d be surprised if the index goes straight back to 7,000; I suspect there will be at least one more significant dip before we reach that level, perhaps at the 200 day moving average (currently at 6,686). We could still make 7,000 by the end of the year though. The markets seem to be focussed on US rate rises again, but I still believe that these will not be significant – it’s all about the mood. There is uncertainty over the timing which is causing some anxiety, but, once it actually happens, after a probable initial wobble, I think the markets will take it in their stride.

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