18th December 2013 — Can the FTSE make it to 7,000?

This is turning into a bit of a crunch time for the FTSE100. The Santa Rally has faded and the index has been treading water since the start of December. The hopes of the bulls to see 7,000 before the year end are currently hanging by a thread. Today’s possible taper decision by the FOMC is almost certainly behind this month’s lacklustre performance and the question now is how will the market react to whatever is announced this evening?

From a technical point of view, the MIDAS Method provides an extremely clear view of the current state of play. It is just up to MIDAS users to decide what to do. Below is my plan.

 

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