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Neighbour: Santa rally underway in FTSE100
Joe Neighbour from Central Markets has his sight on a seasonal Santa rally in the FTSE100. He is looking to buy on a small pullback after a sharp move to the downside at the start of the month.
Santa rally is the term traders use for a surge in share prices in the days around Christmas. Joe says the rally is very reliable and therefore one of the biggest self-fulfilling prophecies in the market. Joe thinks that volatility will subside in the coming weeks as volumes dry up, and he expects to see a grind higher towards 6700 points.
Joe is looking to buy around 6450, targeting a move to 6700 and placing his stop below 6400.
00:58 minutes
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