Play for Monday, June 1st

The FTSE is quoted in the 4490s just 25 minutes to the open. In spite of the fact that we are reaching the 4500s, which have acted as resistance on two occasions, I will not be seeking a short entry unless intraday momentum fails significantly: triple top formations are usually built over the course of months not days.

See the considerations in the weekend wrap up also.

I'll be looking to go long anywhere above the 4430s if a clean signal develops. Otherwise, I'll stay flat.