As the movements of the FTSE 100 etc. have an effect on the overall prices of of the general market, ie. if the market is happy the shares go up, if miserable the share prices go down.

This being so do the chart watchers allow the FTSE sentiment to alter their interpretation of the price movements of the share they are watching?

If so in which way and how much do they build into their systems to account to these movements?

Yes. I realise the first points. What I am wondering is, say you have a 5% FT drop and your individual share price drops and your stop loss on your chart is triggered or the share price drops out of the trend line or channels or if it makes changes to the indicators, how much should the FT influence your decision of a buy or a sell if you think that the drop was a correction or retracement.

I often look at a share price and compare its movement to the FT, while I think others may disregard the overall market. Which evaluation would be the most valid.