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UK Daily Hotline 
20 October 2014             By S Gale, Analyst
    
    
    
    
    
    
    
    
UK Index Summary
 CloseVolume1 day ChangeP&F TrendStop
FTSE 100 6372.33739.0m+105.26+1.7% Bear 2 Oct 2014 6950.00
FTSE 250 15025197.1m+269.00+1.8% Bear 8 Sep 2014 15350.00
FTSE SmallCap Index 4189.7654.6m+39.90+1.0% Bear 14 Apr 2014 4500.00
FTSE All Share 3407.34975.0m+56.19+1.7% Bear 23 Sep 2014 3680.00
Closing prices through Tue Oct 21, 2014
The UK markets edge lower this morning

The FTSE 100 began to reverse its recent downmove from support at 6,100, having become oversold. Despite this morning's lack of continuation of the rally, our sell climax chart (see breadth section below) corroborates with our oversold readings, indicating a correction.

Index Breadth
Our FTSE 100 Buy/Sell Climaxes Breadth Indicator shows an very high reading of sell climaxes, indicating a likely oversold correction (bullish signal).

 

Sectors
The Banks Sector finds support at the bottom of the range, having become oversold and remaining within a potential medium term base.

The Industrials Sector finds medium term support at 3,600 as it begins to correct from oversold.

Stock Action
We highlight GKN as it finds medium term price and relative support at 285.

We show Hargreaves Lansdown as it finds medium term price and relative support at 850.

We highlight Ashtead Group as it unwinds into price and relative uptrends at its 200-day MA at 900.

We highlight DCC as it conslidates into medium term price and relative uptrends, having become oversold.

Chart of the day: BNZL
We highlight Bunzl as it rallies from support at 1,540 on a new VAD high and makes a new relative high. 

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