Don't Ignore This Chart!

This Part Of Europe Just Made A Major Long-Term Breakout

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The London Financial Times Index ($FTSE) had sideways consolidated for 17 years after topping back in 2000.  That consolidation period has ended in a big way in 2017 and this index appears poised for a very significant rise.  Despite how you might feel about Brexit, the market has casted its vote rather bullishly and I'm looking for the breakout to result in a lengthy uptrend - perhaps for several years.  Here's the chart:

So long as monthly closes continue to hold the rising 20 month EMA, currently at 6785, I'd view the long side as the only side to be on with respect to the FTSE.

Happy trading!

Tom

Tom Bowley
About the author: is the Chief Market Strategist at EarningsBeats.com, where he provides stock market education, guidance, and trading strategies using a unique combination of technical, fundamental, and historical analysis. Tom provides EarningsBeats.com members with four portfolios (Model, Aggressive, Income, and Value), all designed to beat the benchmark S&P 500, and a revolving Watch List of hundreds of companies reporting strong quarterly earnings (must beat both revenue and EPS estimates) and exhibiting technical strength as well. These companies comprise EarningsBeats' annotated Strong Earnings ChartList (SECL), from which Tom trades exclusively. Tom writes a Daily Market Report (DMR) for members to include an executive summary, market outlook, sector/industry watch, and trading ideas. Learn More
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