Today looks like we will have a push higher for the FTSE 100 as we see a return of higher volumes in the markets. We appear to be in an aggressive uptrend on the daily charts which peaks at 7450 and could be an indication of where the bulls intend to take us.
Friday saw another Non-Farms report which underperformed the forecast but we saw a revision higher for November’s figure. The market was fairly muted following this which just mimicked the boring week we have had.
Although we have no ex-dividends this week, we do have Morrisons reporting tomorrow, Sainsbury’s and John Lewis Wednesday and then M&S on Thursday which could supply a little bit of weakness for the market as the general consensus is that Christmas has not been good for these companies.
After mentioning Amazon in our last post as being one to watch, we are seeing reports of rumoured bumper numbers from them as the high street results are expected to disappoint.