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I thought they were too hasty but maybe they were right as FTSE 100 takes the strain

Some months back I was talking to family and friends deeply involved in the UK pension industry and they told me that so many of their clients were moving to cash and had been doing that for quite a while, preferring to take the haven of more than 5% on offer. At the same time, as many of these investors were seemingly flocking to cash in droves, the FTSE 100 and wider UK stock markets seemed to suffer little or no impact. I must admit I was surprised by that, but of course the UK stock markets are not just driven by domestic investors, not by a long short either. The surge in the US markets to fresh all time highs was supporting the FTSE 100 and FTSE 250. Of that there can be no doubt. However, at the same time the FTSE 100 was clearly struggling to make headway above 7,750. The latest UK inflation data this morning is clearly pointing to embedded price elevation and that is a problem for the UK stock markets going forward. Whilst that might elevate the Pound it will only serve to force more investors to the sidelines and cash is a clear alternative under such circumstances. The FTSE 100 is currently struggling to hold 7,450 this morning and there will be more to follow on this later today, with a closer look at the technical picture now unfolding on the index 

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