Geofftv1

Geofftv1

Wow, wave (3) has really soared downwards and may not be finished yet, but as it has reached the major low back in 2016 this is a possibility? 4 years of gains erased in just a few weeks!! At present wave (3) has reached 300 % wave (1) but may extend further? if not wave (4) will retrace for a while before wave 5 takes FTSE below the 2016 major low around...

Geofftv1

FTSE has fallen hard last week again BUT now with strong momentum divergence a bounce is likely after wave (5) completes , probably Monday . Good Luck

Geofftv1 Updated 

In my last post I drew a line on the chart where I believed the bears would wake up properly! It looks like FTSE may have completed a long ending diagonal from 2008/9 with a truncated 5th wave. Well, what a week, all markets very heavily down and very probably a lot more to come! QE, Debt, Brexit, and now coronavirus have tipped the boat and this could be the...

Geofftv1

I have looked back over my previous longer term FTSE posts since 2009 and I still believe an ending diagonal is in play albeit with a different wave count location. This chart suggests that cycle wave V is well advanced and of course there are numerous options which will dictate when it is complete. Given the choppiness of FTSE over the last year I hesitate to...

Geofftv1

This chart updates my previous DJI posting. I note that many posts indicate that the top is now? I am not so sure yet? The recent correction may be a primary wave 4 correction meaning that there wave 5 is still to come. If the EW labelling is correct this final wave cannot be longer than primary wave 3 circle BUT takes DJI well into my previous highlighted target...

Geofftv1

This weekly chart suggests that supercycle wave V may end sometime later this year in the range of 29962 T1 - 32163 T2 Momentum and RSI have been diverging from price for some time indicating that this long bull run may be nearing completion. Parallel trend lines from waves II to IV extended to V highlight the target zone. Good Luck.

Geofftv1

Well, the new year has got off to a yo-yo start with the FTSE! The current structure certainly does not look impulsive and my best guess is that a FLAT structure is nearing completion meaning that the next significant move should be down. Lets see !! Good Luck.

Geofftv1

FTSE hit and bounced off the upper blue trendline in what may be the end of wave D circle with strong momentum divergence. If correct wave E circle is now underway and the new year may see a few weeks of falls. I wish all my fellow contributors and followers a very happy and prosperous new year.

Geofftv1

FTSE grinds higher towards EOY and fund managers will want to finish on a high for their EOY performance. In the shorter term there is a triangle followed by a possible Ending Diagonal on the hourly chart with strong momentum and RSI divergence. Possible correction coming soon? Good Luck

Geofftv1

FTSE bounced hard on Friday fuelled by the massive Conservative victory! Charting and predicting FTSE continues to be challenging given the continuous yo-yo action. This chart suggests that as a possibility (there are other alternatives) FTSE is in a large triangle correction that began at the high of 7900. Recent action now suggests that wave C circle of this...

Geofftv1

SPX strength has continued since Dec 2018 but if this chart is correct 3272 may mark a possible top. Good Luck

Geofftv1

FTSE blasted back upwards again following the US markets which seem to be on rocket fuel! Still, I do believe that the current yo-yo action is corrective and although not finished yet is getting closer to its termination point. Looking at the EW structure a FLAT correction seems to be in place with the C wave taking the form of an expanding diagonal. Wave 5 is...

Geofftv1

FTSE has been all over the place but has now broken below its recent channel and the longer term upwards trendline. If correct the recent up/down series was a flat and the current fall could be minor wave 3 blue which would take FTSE down to the 7000 area. Good Luck

Geofftv1

Well, FTSE broke above the 78% fib voiding my last idea! At present the 86.8% fib is providing resistance and the corrective pattern could be a DZZ W,X,Y . Alternatively the correction of wave (1) could be a flat BUT the problem with this is that a flat is a 3,3,5 structure a,b,c and I cannot find a 3 wave structure in wave b? For now then I think that the DZZ...

Geofftv1

Last update I suggested that FTSE would rise to either the 61 or 78% fib and in fact it reached the 78% fib yesterday. This may complete the correction and if correct wave 3 blue will take FTSE well down! If however FTSE rises much above the 78% fib this idea will be void. Good Luck

Geofftv1

Since may last update FTSE has chopped up and down like a yoyo with no clear direction. Given that the recent waveform does not appear impulsive and is full of overlaps my best guess is that this is a corrective wave and there is one more leg up to go. The 61% fib at 7273 and the 78% fib at 7347 are likely targets. Good Luck.

Geofftv1 Updated 

FTSE has now broken my longer term trendline dating back to early 2019! If correct FTSE is now in 3rd wave down! Short term there may be a bounce back to the trendline? Good Luck

Geofftv1

FTSE could not pass the 50% fib retrace level and has now broken under the lower trendline, kissed it back and fallen away in wave iii pink. If correct this complete wave 1 blue of intermediate wave (3) black which should eventually take FTSE well below 7000. Good Luck