This chart is based on the Gann-box.
I saw this patern on a day-graph of the FTSE100.
When the chart reach >0.75 we seek a parbolic arc that pedicated a drop.
On this moment the same is happening.
After this correction the markt will follow an upwards trend.
The bullish break from the descending channel pattern marks the continuation of the rally from November low of 195.18. The doors have been opened for a break above 232.60 (Jan 16 high) and rally to January 23 high of 236.90.