FTSE Stock Market Index Ends 2016 at BrExit New All Time High, Clueless Financial Press

By: Nadeem_Walayat

The FTSE ended 2016's last day of trading at a NEW ALL TIME high of 7,142, which according the mainstream financial press's reporting for virtually the whole year was an IMPOSSIBLE outcome. After all the surprise BrExit EU Referendum vote result was supposed to have heralded a crash, collapse, recession new bear market, NONE of which materialised!

As ever the clueless mainstream financial press that people actually pay good money to be in receipt of and which tends to get further regurgitated across the BlogosFear is well practiced at two things -

1. Amnesia in relation to the tripe that tends to get published, their fake analysis and fake news. For most of that which is published lacks independent thought due to the fact the stories tend to fit a predetermined agenda of those who own the media i.e. that BrExit is BAD and thus the stock market must fall.

2. As ever the mainstream financial press is great at coming up with reasons with the benefit of hindsight to explain away market movements such as today's FTSE new all time high being blamed on the drop in the sterling, despite the fact that the drop in the sterling took place many months ago, long before the FTSE's current surge to new all time highs that THEY NEVER SAW COMING!

A reminder of what happened at the time of BrExit as the mainstream press's panic reporting of Brexit morning (June 24th) following the FTSE's early morning 5% fall in the wake of the UK voting to LEAVE the EU.

Whilst my video of early August updated my consistent view that the stock market was going to trend to new all time highs before the end of 2016.

So despite this the ordinary masses continue pay to swallow the tripe that the clueless financial press publishes! And given the volume of tripe out there then you are indeed very lucky to have happened upon this article amongst reams and reams of garbage published on an hourly basis.

As for what's in the store for the stock market for 2017, then see my most recent video analysis posted right the recent peak of the Dow, on the day it touched a new high of 19,987, that warned "These Stocks Bull Market Delights Can Have Violent Bear Market Ends" and why I was immediately selling 50% of my stocks portfolio.

Ensure you are subscribed to my always free newsletter and youtube channel for forthcoming analysis and detailed trend forecasts aimed at capitalising on Trumps Coming War on China.

By Nadeem Walayat

http://www.marketoracle.co.uk

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Nadeem Walayat has over 25 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

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