FTSE 100 · Open buy, week 16
ISF ETF (FTSE 100): the weekly MACD turns positive in buy week 16
FTSE 100 · Open buy, week 16
Our view last week
The ISF, an ETF tracking the FTSE 100, trades nearly 10% below its all-time high: wide room to run and a double bottom holding in the 1000 area. This week the daily reaccelerates - a bullish engulfing bar and more than 98% of turnover on the buy side - on a buy signal that long sat close to entry. Our indicators, though, stay cautious: Signal Strength low and fading, the quality band advising against new entries. Anyone already in walks the uptrend with the stop.
This week's summary
Weekly technical analysis of ISF, the FTSE 100 ETF: the MACD crosses higher, the histogram is back above zero after four weeks of recovery, and ADX at 37.2 speaks of a trend with conviction. On the daily, four higher lows carry price from the 1010 handle toward 1030, with the record still 8.44% above. But buying, overwhelming seven days ago, is now a quarter of turnover. The quality band still advises against new entries.
IQS Phase
76
in tension
Signal Strength
11
low · fading
ATH distance
8.44%
8.44%
KPI 4
0/3
Trade P&L %
+1.92%
from signal to date, no stop loss
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