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Downside Target Met In London FTSE 100

Posted on: Wednesday, January 20th, 2016

The London FTSE 100 Index met our 5700 downside target today (January 20th), which was first mentioned in our January 7th report entitled Europe Warns Of More US Market Weakness (access requires subscription), to capture a 3% decline in a little less than 2 weeks.

Here is the chart from our January 7th report.

FTSE 100

London FTSE 100 daily through January 7th

Here is the current chart updated through Wednesday January 20th. 

London FTSE 100

London FTSE 100 daily through January 20th

Our  primary interest in the FTSE 100 was its positive statistical correlation to the S&P 500 (SPX), the latter which has coincidentally declined by 144.00 points or 7.2% during the same 2-week period.