FTSE 100 Meets Our 7100 Upside Target
Posted on: Tuesday, April 14th, 2015
The London FTSE Index essentially met our 7,100 upside target on Friday April 10th by trading as high as 7095 intraday. This target was first discussed in our July 1st 2013 Keys To This Week report to capture a 787 point, 13% advance over the past 21 months.
From that report:
“… the index’s January breakout from 2 years of sideways congestion targets an eventual 13% rise to 7100 that will remain valid above 5835. Considering the tight and stable 20 year positive correlation between the FTSE and the S&P 500, we are viewing the FTSE’s reaction to this pattern as an indirect indication of intermediate term direction in the US broad market.”
The S&P 50o coincidentally rose by 29% during the same period.
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