The Uptrends continue although the FTSE SmCap index is struggling (highlighting the dangers involved in trading smacap stocks in this time of uncertainty).
The FTSE 250 index has continued its recent new found good form and looks to be well on its way up to a test of the 10500 level and it has given us some cracking trades over the last couple of weeks.
The FTSE 100 just fell short of a serious test of the resistance at the 5770 level and will obviously have another go at this level next week. If it can break above 5770 then it should have a good ride up to the 6160 level but, if the 5770 resistance is too strong, a quick fall back to the 5540 is most likely.
As ever, it all comes back to the mighty S&P 500 index. Last week it failed its attempt to break above the 1167 resistance and, for its own sake as well as that of the FTSE indices, it has to get above that level or all markets will put in price corrections.
Individual market commentary and illustrative charts are available at http://www.sharehunter.com/news/market-review/
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