Paitech wrote:
Remo et all,
What do you guys think of FTSE and DOW... both are too high.... I mean all time high.. .
Many people talking about correction, soft landing and crash...
Would be brilliant to get view from chartists please.
ta
G
Hi Folks,
Nice to see to some posts from Longterm again!
A good post Paitech....
Whenever we see a strong move on any index, stock or commodity, it always leaves a good possibility of a strong p/b.......and that p/b usually comes when its least expected, and perhaps holders are getting somewhat complacent....
Seems to be underway atm, on the indices....
Unfortunately i'am unable to post charts, and chart links at the moment, its due to some issue with advfn...
They are having a website update it seems, so that may be causing the issue....
I can only give numbers for now.
These are the numbers i think are key for the ftse,
7424 - 200 day ema line.
7300 key pivot level.
6950 200 day ema line on the weekly chart....
i think this will hold 7300 and bounce so this was just a correction, a drop of between 5 to 10% is a normal correction.
below 7300 calls for 6950.....only below 6950 would real panic set into this market imvho....
atb, wdik, dyor,
trendfriend