FTSE100 Update - Central Bankers to the rescue

With the US closed yesterday, EU and UK Central Bankers took center stage and basically gave the markets what they wanted to hear.  Low IR's, perhaps even lower for some time to come, QE still on tap if needed, the UK market lapped it up almost hitting 200 points for the day. Unlike Bernanke in the US, the ECB's  Draghi effectively said that any exit from this dovish stance is very distant.

Market is up again so far today, but will await the US job numbers. Again we could be in for an interesting day because if the numbers come in weak then markets might actually jump higher on it because the US Fed will have less reason to taper QE. A good jobs number could ironically bring back the old doubt and fear that the easy money policies might be about to end and markets could go the other way on this "good" news.

The jump yesterday effectively took out the lower high possibility that I posted a few days ago. Still not a full bullish turn and we may now be entering into a period of consolidation.

FTSE100 - Daily