FTSE for Friday: is market preparing for June bounce?
As investors wait for some positive news from the White House and Tehran, independent analyst Alistair Strang shares his latest thoughts on charts for the FTSE 100.
29th May 2026 07:48
by Alistair Strang from Trends and Targets
The FTSE 100 is getting close to providing a “sure thing” for those who follow/trade the index. Obviously, there is absolutely no such thing as a “sure thing” on the stock market, but while movements are generally pretty lame, in the last few weeks they have tended to imply the blue-chip index is poised to fly.
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From a bigger picture perspective, the threat is for movement above 10,522 points triggering a rise to an initial 10,582 with our secondary, if bettered, an impressive 10,728 points.
As a result, we need to examine intraday movements over the last week or so, trying to identify any reason for the market to exceed 10,522. This proves a harder job than we suspected. With the index currently trading around 10,440 points, it actually needs above 10,492 points before we even dare raise an eyebrow, let alone hopes for strong FTSE movement.
Instead, it feels like weakness remains possible for the UK main market as below 10,377 points risks promoting reversal down to an initial 10,301, with our secondary, if broken, calculating at 10,219.
Our suspicion, as it’s a month end, is to expect reversal to 10,301 points, then a surprise bounce, with June starting with some optimism, hopefully capable of triggering some of our bigger picture thoughts.
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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