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Mood!

Monday, April 16, 2012

FTSE

So as expected the FTSE daily looks similar to the DAX, with one clear difference if we are looking at the Elliott wave labeling; Wave 4 on the FTSE seems to have broken into Wave 1 top.  Reading EW theory it seems that wave 4 should not retrace to wave 1 (somebody please enlighten me!!)  Link to Elliott Wave rules 

So this means either
A. something else is going on (market may have completed the bull run and now on an extended down move)
or (more likely!!)
B. wave count is wrong!! (It does look good though!)





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