FTSE blasted back upwards again following the US markets which seem to be on rocket fuel!
Still, I do believe that the current yo-yo action is corrective and although not finished yet is
getting closer to its termination point.
Looking at the EW structure a FLAT correction seems to be in place with the C wave taking the form
of an expanding diagonal. Wave 5 is always longer than wave 3 so my guess is that FTSE will
reach above 7490 before turning, probably past the round number 7500.
Other ideas and comments always welcome.
Good Luck
Still, I do believe that the current yo-yo action is corrective and although not finished yet is
getting closer to its termination point.
Looking at the EW structure a FLAT correction seems to be in place with the C wave taking the form
of an expanding diagonal. Wave 5 is always longer than wave 3 so my guess is that FTSE will
reach above 7490 before turning, probably past the round number 7500.
Other ideas and comments always welcome.
Good Luck