This is recovering faster than I expected having bought late October, which is good news. But I can’t help but feel there’s going to be some profit taking soon, with a small pullback. Barring any unexpected shocks with trading statements I think we should see 260 -280 in 2018.
As can be seen in the 3 year chart the sp spent nearly first half of its time outperforming the FTSE All Share index, with the post referendum crash responsible for subsequent under-performance. The sp still has a fair way to climb just to catch up with the FTSE ASI. Also noticeable is that this is the first time since June 2016 that the sp has pushed through its 50 week ma with that line itself having just turned positive for the first time since summer of 2016. So a Buy signal has been given.