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FTSE 100 hands it back all too easily

On Friday the FTSE 100 was unable to recover the negative close it had set the day before, when it closed on Thursday at 7,648. The index topped out at 7,668 and spent most of the day tracking lower. The FTSE 100 later found a base at 7,569, but did not close much above that low, ending the week at 7,576, with a loss of 72 points on the day. As noted here on Friday morning, the threat of rebalancing into the quad witching did not help the FTSE at all. The FTSE 100 futures are struggling a bit this morning too. The current indication is for the index to effectively reopen at around 7,560 and loses in the European futures are not helping it much either. The rebound to above 7,700 on Thursday was all too quickly evaporated ahead of the weekend and it remains to be seen  if that dynamic will change when live trading shortly resumes

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