FTSE 100 upended by US tech slide again

Earlier today the FTSE 100 was lagging the gains elsewhere in Europe and seemingly just not interested in pushing much higher despite the CAC 40 and the DAX pressing higher ahead of the US opening. The FTSE stalled at 10,372.77, which was where it officially reopened today and early morning downside was reversed to around 10,365 later in the morning. 

However, as the US markets turned around, the FTSE fell back and once again it fell steeply too. The thing is, owing to the ever shifting chart dynamic the former rising trend line we noted last week was in place right around that earlier high and hence it has now taken it out with a deeper fall than seen previously. 

The FTSE 100 fell as low as 10,227.33 and that is where it closed too. So, not a good outcome at all and in truth, barring whatever happens stateside from here on today, we would be surprised to see this index not face further pressure tomorrow. That is never a given of course, but we shall see in due course