Chart special: Q2 forecast for FTSE 100, HSBC & Apple

TL;DR

The content provides a bearish forecast for the FTSE and banking shares, expecting a move down to new lows in the coming weeks.

Transcript

hello it's John Burford with chart of the week for Monday the 30th of March and we've had a quarter of the year passed already and we've seen a little excitement I believe today I'm covering the foot see I know it's of great interest to a lot of a lot of investors and so let me just review very briefly where we are from the all-time high which was ... Read More

Key Insights

• 👋 The FTSE has experienced waves up and down since May 2018, and the author identifies the current move as a small-scale third wave.
• 🫥 The use of tram line trading methods helps the author identify sell signals and potential trend reversals.
• ❓ Volatility is evident in the FTSE's momentum, with a significant downdraft followed by a surge in momentum during the relief rally.
• 😘 The author remains bearish on the FTSE, expecting a move down to a new low, potentially reaching the 3,500 level.
• 🤯 HSBC, a banking share, has held up relatively well but is expected to head towards lower levels around 280.
• 📉 Apple, another stock mentioned, is seen as being in a series of one-two patterns, suggesting a potential downward trend.
• ❓ The author emphasizes the importance of monitoring momentum and volatility in forecasting market movements.

Questions & Answers

Q: What trading methods does the author use to analyze the FTSE?

The author utilizes tram line trading methods, looking for accurate touch points and a sell signal when the lower tram line is broken.

Q: What does the author expect from the FTSE in the near future?

The author expects one more push up to a new high before a move down to a new low within the next few weeks.

Q: How does the author assess the momentum of the FTSE?

The author highlights the volatility in the FTSE by pointing out the large downdraft followed by a surge in momentum during the relief rally.

Q: How does the author view HSBC and its performance compared to other banking shares?

The author finds HSBC to be relatively better compared to other banking shares, but still expects it to head towards a lower level around 280.

Summary & Key Takeaways

• The FTSE has experienced a series of waves up and down since its all-time high in May 2018, with the latest move being a small-scale third wave and a bounce back after a recent low.

• The content highlights the use of tram line trading methods and a sell signal when the lower tram line was broken.

• The author expects one more push up to a new high before a move down to a new low, with a focus on the momentum reading and volatility.