...go back into the market, FTSE 6200 starts acting as resistance and technical analysts are suggesting "A few ballsy traders will go short at 6,230 with an extremely tight stop. It’s a potential 600 point trade with very little risk." In addition to that we had a worrying story from the Investment Association on Thursday. This report on it from Reuters suggested that British retail investors poured more than 2 billion pounds into equity funds in July 2015, the highest since wait for it April 2000.
So what you might think? Historically when the small investor has gone charging into equities in a big way, the timing has often been well - poor to say the least. This comes after a six year bull market when the market has been showing signs of topping out before its correction in August. While the April 2000 record came just after the dot com peak at the end of 1999 and early in the year 2000 when FTSE last hit 7000 - a level it has only just surpassed briefly earlier this year some 15 years later!