FTSE for Friday: a brave new world for FTSE 100 index?
After a strong start to July, independent analyst Alistair Strang studies his charts for signs of a break above 11,000.
3rd July 2026 07:28
by Alistair Strang from Trends and Targets
There are indications something positive wants to happen with the FTSE 100. The extraordinary day experienced on Thursday has almost galvanised the UK market, and now above 10,723 points should kick open the door of a brave new world for the index.
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At time of writing, FTSE futures look quite convincing at 10,695 points, 43 points above the level at which the market closed Thursday, an impressive 1.67% upward. Things are getting quite interesting from a near-term perspective, but we’d prefer to sprinkle some sanity on our outpouring of hope.
Near term, above 10,723 points is supposed to trigger gains toward an utterly useless 10,740 points. If triggered, the tightest stop-loss point looks like 10,660 points. There’s another reason why this is worth mentioning as our secondary target, if this useless initial 10,740 points is bettered, calculates at a slightly more useful 10,882 points. Rather more importantly though, this would take the index into a zone where a longer term 11,319 points calculates as a viable longer-term ambition.
Unfortunately, the FTSE doesn’t need to do much to foul things up. Below 10,470 points would be troubling, risking reversals down to an initial 10,376 points with our less likely secondary, if broken, calculating down at 10,265 points.
We do suspect, if an effort is made to keep the UK marching in place, 10,376 will provide a reasonable rebound level.
Have a good weekend.
Source: Trends and Targets. Past performance is not a guide to future performance.
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
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