The Bears took control of the FTSE today. I'm a little perturbed of the exact driver but it seems to be a combination of Sterling strength after positive noises from the Brexit negotiating table and negative Trade War rhetoric. Either way this is not a place to buy and hold. We are likely to see decent bounces to the upside on the way down and I will take some intraday opportunities as I did today, but we are likely to first see 7500 and then a possibility of 7350 being visited. None of this is particularly concerning at this stage. Global growth is fairly resilient and the markets have been crying out for a genuine Throwback from upside moves.
