I have always noted that the FTSE tends to follow the DOW but not always with the same EW count and structure?
This chart show the relationship over 20 years including the last bear market of 2007/8 which was supercycle wave 4.
Note that for Supercycle wave 4 the FTSE completed a zig-zag structure whilst the DOW made a flat structure finishing some years later, however for
price measuring purposes the orthodox bottom of wave 4 in the DOW was same as FTSE in 2003.
Moving on to the final wave 5 FTSE has traced out an ending diagonal which has a throw over top and DOW has traced out a normal impulse wave.
Looking forward both FTSE and DOW are very,very near a top at Supercycle degree which if correct will lead to large falls over the coming years.
Hope this is useful. Good Luck
This chart show the relationship over 20 years including the last bear market of 2007/8 which was supercycle wave 4.
Note that for Supercycle wave 4 the FTSE completed a zig-zag structure whilst the DOW made a flat structure finishing some years later, however for
price measuring purposes the orthodox bottom of wave 4 in the DOW was same as FTSE in 2003.
Moving on to the final wave 5 FTSE has traced out an ending diagonal which has a throw over top and DOW has traced out a normal impulse wave.
Looking forward both FTSE and DOW are very,very near a top at Supercycle degree which if correct will lead to large falls over the coming years.
Hope this is useful. Good Luck
Comment:
Just adding the FTSE & DJI labels.
