I tried a couple of times this morning to short the FTSE 100. The experience has confirmed once again that it is better to wait for the SPX to open before trading equities. I closed the position twice, for a total loss of around 0.25%. I have now re-entered the position in SPX. Fundamentally the market seems to be focussing on the negative side of the data releases — especially yesterday’s consumer confidence number. Technically the market has come back up to test a breakout level — a good moment to be short. I used the market’s return to test a short-term breakout as an entry point into the trade. Short term chart shows approx entry point and stop position; long-term chart shows the breakout level.