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Dow Jones and FTSE 100 Forecast for the Week Ahead

Dow Jones and FTSE 100 Forecast for the Week Ahead

2019-11-17 13:00:00
Justin McQueen, Analyst
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Down Jones Index 2-Hour Price Chart

Equity Analysis and News

  • Dow Jones | Fresh Record Highs Reached as Volatility Implodes
  • FTSE 100 | Conservatives Hold Sizeable Lead Over Labour
Equity Index Performance

Source: Thomson Reuters, DailyFX

Dow Jones | Fresh Record Highs Reached as Volatility Implodes

Fresh record highs in Wall Street as US equity markets continue to press higher, while the narrative has centered around US-China trade wars. The increase in central bank liquidity (not QE, according to the Fed) has also played its part in underpinning equity markets with the Fed’s balance sheet now back above $4tln after a $250bln increase since mid-September. However, with central bank liquidity injections keeping equities afloat, this has also suppressed volatility, which in turn has seen investors amass a record short in the VIX.

US Fed Balance Sheet Vix and % of Open Interest

FTSE 100 | Conservatives Hold Sizeable Lead Over Labour

UK politics remains at the forefront of investors minds as market participants continue to digest the latest polling intentions. Poll trackers continue to show a sizeable lead to the Conservative party and even more so after Nigel Farage confirmed that the Brexit party would not contest the 317 seats that had been won by the Tories in the 2017 GE. Consequently, bookmakers have moved their odds in favour of Boris Johnson reaching a majority. Aside from politics, IHS Markit confirmed it will start publishing flash UK PMI’s from Friday.

Commodities Index Performance

FTSE 100 Price Chart: Daily Time Frame (Sep 2018 – Nov 2019)

Dow Jones and FTSE 100 Forecast for the Week Ahead

FTSE 100 Technical Analysis: Break of Rising Channel

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--- Written by Justin McQueen, Market Analyst

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Follow Justin on Twitter @JMcQueenFX

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