Ominous trend overseas
Both S&P 500 and ‘Footsie’ showing signs of coming large sell-offs
STOCK INDICES OVERSEAS are again looking ominous after having had a month of relief rallying. We show the current situation by looking at charts of the Standard & Poor’s 500 index in the United States (the world’s most watched stock index by market professionals) and London’s FTSE100 index – the “Footsie”. They’re both breaking below support levels to begin another round of selling. Though the coming sell-off is likely to be large, one positive is that traders can capitalise by selling short.
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