FTSE

correct updated chart..sorry!

Theres a big hammer on the ftse right at support...
The way im gonna play this is wait for the price to come halfway down the hammer then go long with stops below the hammer. Obviously this is for tomorrows trade if we finish with a hammer today.

Jackozy - Oh yea of little faith But I don't blame you for take the profit. Well done mate. That said my 5688 is now looking quite close Don't ya just luv dem fibs

Hi Gee,

Yes, I had noticed that. The FTSE is normally more bearish than the Dow but not so this time around. In reality, they don't bear much comparison at all these days. I find the FTSE much more difficult to read as its patterns appear far more complex.

That said, and despite the Dow breaking to new highs above the 12876 Bin Laden high, I still can't get a bullish wave count to fit either index to my satisfaction. It's going to take a break above 14198 to convince me that we're in a proper bull run.

Hi
Is it just me or has anyone else noticed how resilient FTSE index has been compared to the DOW. It's a but wierd. But the % drop of the high to the lows since sept/oct on the FTSE has not been as significant as that on the DOW.
Isn't that wierd? Cause it usually falls dramatically with the DOW.
Is there a reason for this?
Gee