Geofftv1

Geofftv1

FTSE has been quite difficult to plot with multi overlapping waves, however I believe that this chart may be correct in the idea that a large A,B,C is nearing completion. Wave A was a five down, wave B a trangle and wave C in progress a five down with wave 4 currently ctreating a triangle. Once complete wave C may complete at 100% wave 1. Good Luck

Geofftv1 Updated 

I haven't posted for some time but I think this chart may be useful in determining the possibilities of FTSE soon entering a prolonged bear phase? Watch for a close below the 200MA to confirm. Good Luck

Geofftv1

My previous charts have suggested FTSE has been creating a leading diagonal for some months now. The overlapping choppy nature of the wave structure has made it difficult to trade! If correct I believe this diagonal is now complete and wave A of an A,B,C correction has recently occurred. If FTSE falls below the terminating wave (E) a much larger fall is...

Geofftv1

Here are my thoughts on the SPX chart since the major lows in 2009. Wave III = 2.618 wave I Wave V = 0.618 waves I to III Both these are common fib levels and may mark the end of the cycle since 2009? Note the strong RSI divergence since wave III ! On the 1 day chart SPX has just rebounded up to the lower trendline and a solid rejection and fall below 3207...

Geofftv1

My previous FTSE charts have speculated that FTSE is in a leading diagonal which is taking many months to complete. Here is an update with wave D now in progress, this may finish at the upper blue trendline in the 6100-6150 area. Good Luck

Geofftv1

On Thursday 3rd Sept SPX fell heavily for no apparent reason? there was no bad news or Fed announcements so what triggered the fall? Looking at the EW weekly chart one can see that wave III is 2.618 wave I which is a common fib ratio in extended wave 3 situations. looking further one can see that wave V is exactly 0.618 the sum of waves I to III, another...

Geofftv1

FTSE EW structure has been very difficult to track for the last few months but I believe that it is possible a that a leading diagonal A,B,C,D,E is now in play with waves (A), (B) completed and (C) wave in progress. Hence a few more months of high volatility. Short term If correct FTSE will complete the current impulse wave down A of (C) at about the 6010 support...

Geofftv1

My last FTSE idea on the Megaphone pattern is still in play but I have no idea if it is completed yet or if there is another wave to go? The red arrows shows one possible path (Bearish) and the green arrows show another (bullish) path. At present FTSE is about to start wave 5 of C of an A,B,C correction which should finish around the bold red trendline. Good Luck

Geofftv1

The wave pattern from the 23rd March low looks corrective , although the depth of this correction is deep at just above 78% with the gap now closed the momentum is not impulsive! In addition if counting a 5 wave impulse wave 3 would be the shortest! If correct primary wave 3 circle is now in progress with intermediate wave (1) just completed with a normal A,B,C...

Geofftv1

FTSE has been in a long slow correction since the large fall in Feb/March. Many traders are still very bullish buoyed up by the continual money printing by the central banks which they believe will NOT let stocks fall? This has been especially true in the US. From a chart view it looks like a Megaphone pattern has been in play for the last 2 months or...

Geofftv1 Updated 

Gold has reached the 76.8% FIB correction from the previous peak on diverging momentum since Sept 19. The current rise could be the last wave of this bull ride? If there is any more bullish fuel left 1783 may be the max where Y = 200% of W. Good Luck

Geofftv1

NDX has broken the previous high on the back of the skyrocketing FANG stocks. Surely the moon is now in sight? I am not so sure and looking back to the start of this EW cycle it may be that a top is very close. Cycle wave III was a fib 4.238 of wave I and 0.618 of the waves I to III range is around 9870. Even with the massive rises in wave V RSI has diverged...

Geofftv1

FTSE has put on an impressive rally yesterday to head for the previous high at 6155. However this may be an expanded flat which may be complete and if correct the bearish trend will continue. If however FTSE breaks 6155 then a different wave pattern is in play and back to the drawing board! Good Luck

Geofftv1

Well, this FTSE corrective wave has been tricky to follow but I do now believe it is complete and has broken the support trendline. If correct FTSE completed a double zig-zag as W,X,Y with the X wave taking the form of a triangle. Watch out next week for a further small fall followed by a kiss back to the support trendline and then ?? Good Luck & stay safe.

Geofftv1

If correct this correction A,B,C OR wave 2 is complete and the next wave is down! Momentum divergence seems to confirm this and I will be looking for a strong break of the lower blue trendline to confirm. Good Luck.

Geofftv1

(Previous chart seems to have put SPY rather than FTSE???) The new over the last week has been awful yet FTSE has stormed up back to the previous high? This updated chart suggests that FTSE is completing either wave (2) or B, time will tell which! At present an ending diagonal looks to be occurring and given today is the last trading day before easter it...

Geofftv1

The new over the last week has been awful yet FTSE has stormed up back to the previous high? This updated chart suggests that FTSE is completing either wave (2) or B, time will tell which! At present an ending diagonal looks to be occurring and given today is the last trading day before easter it will be interesting to see if FTSE can break the previous high and...

Geofftv1

FTSE now looks to have completed intermediate wave 1 with a truncated 5th wave (5) The corrective wave may be taking the form of a DZZ W,X,Y which if correct will finish around the 38% fib at 5978. Good Luck