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It has not been easy to figure out the FTSE EW pattern since the top and I have suggested in previous charts
that FTSE may be creating a leading diagonal.
The pattern has become a bit clearer recently and my prediction of an impulse wave down since the top has
NOT changed although I have modified the EW labelling as shown on the new chart.
At present FTSE looks ...
My previous extended flat correction idea was voided but I still believe that the current bullish
push higher is a corrective wave.
Wave 1 corrections are often deep as the bulls feel that the wave 1 low is another buying
opportunity in a never ending rise!
It is now possible that DJI is completing wave c circle of intermediate wave (2) black which
if correct ...
Following up my previous NDX update.
The election is over and the FOMC rate decision comes later today.
NDX has completed intermediate wave (1) black and is now in wave c circle of intermediate wave (2)
which may complete somewhere in the highlighted area.
If correct intermediate wave (3) black will pull NDX much lower. Good Luck
My last DJI chart suggested that DJI had completed an expanded flat correction
for intermediate wave (2) black.
This chart adds weight to that idea and expands on my thinking and deduction:
On the 4 hour chart which is my favourite for medium term EW analysis the final
impulse wave can be seen terminating in the wave (V) olive top.
Intermediate wave (1) black ...
This chart presents tge possibility that todays high marks the end of minor wave 2.
Wave 2 may have taken the form of an expanded flat with todays 5 wave impulse
The C wave finishing in an ending diagonal.
Bearish momentum divergence is evident, watch closely in the next day or so.
Following on from my post of 28th Oct which had NDX in a leading diagonal.
This looks to have now finished BUT the relief rally looks very weak indeed so far!
If the diagonal low fails this will open the path for a much larger fall.
I think that the first wave down from the top is almost complete as an expanding leading diagonal, albeit
the shape is not exactly textbook!
However there is now marked divergence on the 4hr chart and what looks like an ending diagonal to
complete the c wave of the 5th wave. If correct next week may see a further small fall to complete
the pattern followed by a ...
This chart suggests that NDX has completed or nearky completed the first wave down
From the 7700 top as it reaches the .618fib of the previous impulse wave.
This wave has taken the form of a leading diagonal which as nearing comletion is showing
If correct expect a rally next week. Good luck.
FTSE reached my first target T1 of 6969 and has since rallied BUT the rally has hit resistance several times at the
lower red channel trendline.
Indicators are not showing oversold divergence which opens up the possibility that a further downleg is possible
to at least T2 or lower.
The EW structure is NOT clear at present and once I have more confidence in the ...
Following on from my SPX updates.
Intermediate wave (1) black finished on 11th Oct and the wave pattern since then has multiple options from an EW
This charts suggests that SPX is in a typical A,B,C correction which may reach the .618 fib level or possibly close the
open gap at 2880. At present SPX looks to be in a possible B wave and taking the form ...
My post of 30th Sept suggested FTSE was taking the form of a leading diagonal.
The chart pattern since then adds more weight to this idea BUT the shape of the diagonal leaves open the
possibility of a more complex pattern developing.
Either way I expect that an initial low is close and possible targets for this are shown on the chart. At 6881
wave C of the 5th ...
Following on from my chart of 1st Oct, SPX completed an ending diagonal and started a sharp fall!
Minor wave 3 blue completed yesterday and corrective wave 4 blue is now underway which may
finish in the highlighted area. Once complete minor wave 5 blue will complete this first impulse
wave down! Good Luck
NDX is following my prediction from Oct 8th and is now in minor wave 4 blue which means a correction of yesterdays wave
3 blue fall is underway. Once wave 4 completes expect a wave 5 blue fall to around 6848 or lower. Good Luck
Following up my idea from 6th Sept, NDX reached the targeted 7700 level with an ending diagonal double top.
If correct this first minute 5 wave impulse down marks the start of a much bigger decline, for now the correction of
this first wave down may aim to fill the breakaway gap but this in not necessary. A solid break and close below
7328 will confirm. Good Luck
This chart suggests that SPX is nearing an apex at aroubd 2950 ish!
Waves 2 and 4 of this impulse show alternation and good time relationship.
Wave 5 may be taking the form of an ending diagonal on falling RSI.
This coming week in Oct may set the scene for increased volatility.
A few of my followers have asked why I believe FTSE has already topped and why the decline has started.
This chart is updated from my original long term FTSE chart back in 2017 which has FTSE in a long ending
diagonal since 2009.
Note the accurate top trendline with a solid PP and multiple hits on this trendline with a set of overlapping
The rise above 7510 last week violated my idea from Sept 7th!
I still believe that wave (5) olive represents the top of a very long ending diagonal from 2009 and the current
decline is the early stages of much larger correction.
Diagonals usually occur at the end of an impulse wave or the beginning and represent uncertainty in the market,
hence the overlapping ...
So the dow has joined the SPX in making a new high and finally proving that the rise
Since feb is in fact a 5th wave.
However the NDX is not joining the pack and maybe leading the downturn?
This idea has a final target for the dow just over 27000 , good luck.