The recent huge rise in the FTSE had me confused but I still think my last idea is correct "nearly" I have modified the wavecount slightly as I believe the huge rise in the FTSE was a correction of a previous extended wave 5 which quickly retraces back to the first wave in the prior wave. If correct FTSE will now retreat in minute wave 5 to complete minorwave 3. Good Luck
Comments
VishalShah9
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What's your latest view?
Geofftv1
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@VishalShah9, to be honest, I am not sure. Will take a closer look today and post later. Looks like a triangle forming at present though.
VishalShah9
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This FTSE is crazy..... French election has more bearing then the upcoming elections here in the U.K.
Geofftv1
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@VishalShah9, Yes, markets move in mysterious ways! makes life interesting trying to figure out the EW structure which I have been doing for many years and still learning!
VishalShah9
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@Geofftv1, got me worried with this sharp rally, wave pink iv retraced over 62% of iii pink.... which is v large....So may not be textbook.... but let's wait and see... will be happy if the reversal starts..
S&P is doing something different so may have bearing here!