Wednesday, February 2, 2011

FTSE DAX spread UPDATE.....

Following on form previous post...the spread got as high as dropping back to 1187.  As can be seen on the chart this is setting up an even bigger negative divergence, so we may have a PROPER top in the spread and LONGER term looks like FTSE will outperform the DAX (unless of course it breaks out above that channel.. TA always has alternative scenarios, it's all about probabilities!)

The weekly chart also shows negative divergence.  If the spread narrows to 700, potential profit is 1000 pips per unit

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