By Thierry Laduguie | Monday 23 June 2014
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
The FTSE 100 rallied strongly on Thursday morning but later in the afternoon, the trend turned down as profit takers moved in. The high on Thursday was 6837, well below the previous high at 6879. In the meantime the S&P is hitting new highs, once again the FTSE is reluctant to follow the S&P higher and in the context of a record low in the put/call ratio (see below), chances are the FTSE will decline in the short term.
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