Also of interest could be the ' Line ' forming since May in XUKS a FTSE Short ETF (Weekly chart shows it clearly) , this coupled with a positive divergence in the MACD indicator may be adding some more evidence for this count.
It would sound reasonable for short instruments to be gaining in strength as the the markets falter, early days of course.
If my count is correct the fall will accelerate next week , however given the choppy overlapping waves I will also consider the possibility of a leading diagonal. If this is the case FTSE will bounce back up into the wave (2) area. Good Luck
If it can push above this range then things would get mighty interesting.