FTSE is a buy

This week's Multi-Asset Technical Strategies PDF includes the following conclusions drawn from our weekly detail survey major world markets and revealing their trends and patterns - in multiple time-frames :


CURRENCIES: The Dollar is set to continue on the weakening trend, it's very clear against the Euro in the medium and long term charts especially. Sterling too has established a strengthening trend against the Dollar - breaking a Prior High which should now be good support. The Yen is yet to establish a new strengthening trend.


STOCKS: All these markets remain strong in the face of considerable volatility. The Eurostoxx looks v close to topping a major long-standing 25-year Prior High which will be a major springboard for more buying, if achieved. The FTSE is already in the grip of major long, medium and short-term bull patterns.


BONDS: We remain keen observers of the UK Gilt which so close to the completion of a major bull yield pattern. Others lack clarity. US ten year notes look close to an interesting situation (if broken then higher yields) in the short-term.

COMMODITIES: Oil looks vulnerable still. Gold , without a clear top, but having outrun the influence of powerful bull patterns, looks vulnerable too but without the clear influence of completed bear patterns.