Play for Tuesday, June 16th

With yesterday's down move, daily and intraday momentum is looking down. We still have to break below the 4300 line though.

The short case scenario would entertain a retrace upward where we could seek a short entry fill:

• The 50% to 61.8% retrace from yesterday's pre-open levels would take us just below the 4400 line.
• A more extended retrace from Friday's highs could take us up to 4425.

Alternatively, we could take the route up towards these levels. But at this point, on the FTSE, I'd rather seek a short entry.