FTSE100 Update - Will market again buy on the dip?

FTSE100 reached the psychologically important 6500 and then sold off.  Hardly a surprise considering the recent run, chart still looks quite bullish although the MACD indicator is suggesting weakness again. The last time this happened on the daily chart we had a period of consolidation between 6300/400, before the move up to 6500. The 20 and 50 dma still looks quite positive and I would look to a move below them before declaring this trend move over. The FTSE has room to move down to around 6300 before hitting the tramline on the chart. So far the dips have been bought and fairly quickly, so we shouldn't have long to wait to see if this is the beginning of something more than a dip.

FTSE100 - Daily