FTSE for Friday: will the index receive another leg up?
Independent analyst Alistair Strang examines the potential for reversals or a charge forwards in peak summer.
14th August 2026 09:22
by Alistair Strang from Trends and Targets
Last Friday, we enjoyed a whinge about the 10,910 point level and the fact that the FTSE 100 has been carefully avoiding closing above such a point.
This notion, obviously ridiculous, almost treats the index as if it were a sentient thing, but we can’t help but notice the UK market remains strangely afraid of this value, the best achieved in the last five sessions being closure at 10,902 points. Or, close but no coconut, as most folk would say.
Only with closure above 10,910 will we dare to believe that the boredom of August is about to be left behind.
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It feels more probable that the UK index is again fated to experience some reversals. Currently, weakness below 10,755 suggests triggering reversal to 10,721 points and hopefully a bounce. In the event that such a level breaks, things are liable to become a little nasty.
Our secondary target of 10,663 could easily become quite troublesome, bringing the FTSE into a zone which breaks free of the August malaise and instead threatens a longer-term visit to the 10,300 level. Should this scenario trigger, the tightest stop loss level looks like a very wide 10,893 points.
But there’s always hope the current dangerous dance steps will prove a distraction, the FTSE only needing to sneak above 10,806 to hopefully trigger a charge to 10,912 points with our longer-term secondary, if bettered, at 10,950 points.
Again, while we will get to play the “Will it close above 10,910 points game?”, this remains a strong signal that we’re waiting for which will suggest the index is about to experience another leg up.
Source: Trends and Targets. Past performance is not a guide to future performance.
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