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On Track So Far …

Posted on the 01 November 2012 by Andyepb

Chart of FTSE-100 at 31st October 2012The FTSE has gone mostly sideways as I suggested it might in my last post, but, to be honest, there is nothing really to suggest the next move to me.

Chart of Dow Jones at 31st October 2012
Looking at the Dow, there has been more of a decline in the last couple of weeks and the flat bottom is suggesting a bounce back to the 50-day moving average (the green line). However, while my predictions of the FTSE have a reasonable success rate, my track record with the Dow is not very good, so I am not very confident. If it were to go to plan however, I would be looking  for a significant dip after that on both the Dow and the FTSE.

According to what I have been reading recently, the US markets have been worried about a Romney victory as he is much less keen on QE, as well as the prospects for inflation, so next week’s presidential election could be a significant event for the Dow.

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