Geoff Wilkinson – Associate at Linear Investments – joined Nick Batsford and Zak Mir in the Tip TV studio to discuss the recent market rally, and whether confirms that we are entering into a bear market.
Sharp rallies indicative of a bear market.
Mir and Wilkinson discussed how fast counter-rallies such as the one seen in the FTSE 100 and S&P 500 over the last few weeks are rarely found in a bull market, and may further hint towards the emergence of a bear market. Wilkinson believes that the rally just fell short of significant levels. Failing to have met those levels further suggest another selloff may be imminent.
Housebuilders broken through major uptrend.
Wilkinson highlighted the key channel of this sector, and how it has failed to grow in line with the FTSE 100’s rally. He believes money is being taken out of the sector, and if it were to break below the intra-day low of 380, it would be an unhealthy sign for the markets.
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