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Mood!

Wednesday, May 9, 2012

FTSE (and DAX)

So with recent market action, especially in the FTSE, my previous post  "FTSE vs DAX conundrum" seems to have answered itself.

As wave 4's cannot enter wave 1 price action, then it looks like 5 waves completed up on 14th March and we are now in
Either
an A-B-C correction (currently in C down)

OR (more bearish)
a new move down and we are in a wave 3

IF ABC then once complete the BULL run should resume and we see new highs...
IF new move down, once 3 completes we should see a corrective move up then NEW LOWS.

FTSE DAILY CHART



DAX DAILY





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