Markets caught in no man’s land

Equity markets seem to have found a range as opinion is divided on whether western economies are poised to ‘double dip’ or are set for growth. Certainly the macro economic indicators have been conflicting, causing share prices to fluctuate within a range. The FTSE 100 index for example has been ranging between 5500 and 5600 for the last 2 weeks. These tight ranges may well continue for the rest of the week, as macro economic data is scarce over the next few days. The technical momentum is still towards the upside but further rallies may present opportunities to take profits before the historically turbulent October sets in..

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About Simon Brown
Simon Brown has over 20 years experience trading Derivatives on everything from Gold, FTSE to Dollar/Pound. Simon has lectured in Trading Psychology, Strategy and Technical Analysis, in addition to regular appearances on CNBC television. He is now Managing Director of ProSpreads.

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