Yesterday’s rally fits the bill of the expected c wave extremely well and there is evidence it has now peaked. If so we now have a third wave down starting up with a minimum expectation on FTSE around 5300/5350 and possibly a fair bit more.
Category: Ftse
Opening Report – 24 July 2012
Markets are seeing impulsive declines and FTSE has either already seen five waves down or needs one more decline to complete this – see chart below. This suggests a rally of sorts but we are again into event-driven territory with Spanish Bonds under severe pressure (Greece must be glad to be out of the spotlight… Continue reading Opening Report – 24 July 2012
Opening Report – 20 July 2012
Markets are moving into expiry on a high note but it is what happens in the next couple of sessions which is important. UK FTSE 100 FTSE is now at 5693 down 20 points. FTSE is having trouble holding 5700 but the final expiry gasp after 10h00 may sort that, briefly. We are seeing with… Continue reading Opening Report – 20 July 2012