FTSE 100

Downtrend breakout occurred and was backtested yesterday:


I have the 123 low breakout level at 5789 on the cash chart - it's hit 5782 this morning.

Gap resistance at 6450; 61.8% Fib of the drop at 6510.

I'm going to short at 5830 if it comes.



This is a VERY RISKY intra-day trade.



(please do your own research)

trendline seems ok here for 5min intraday trades...

This turned quickly

I remember a discussion years back where it was posited that the entire FTSE move from the 2007 high was actually a correction to the previous uptrend from the late 1970s or longer, even if it made a new high.

The FTSE always looks to be in a separate pattern than the US indices. Not saying that's the case but the US indices have just closed below the 38.2% Fib whereas as Remo points out, the FTSE closed below its 61.8% Fib.

On a separate note, has anyone noticed how similar Bitcoin's chart is to the GKP chart back in the day before it's price got re-baselined?

Bond/equity cycle change in play despite almost zero % interest rates?

remo wrote: You aint gonna believe this....
The ftse 100 has gone past 61.8 fib level with ease and this should have been the bottom of the bear market yet it hit this in one month....
Obviously bear markets last around 6 months and yet this has hit the level in under 1 month....

Well Remo, you did say (more than once!) that this market will offer us some lovely discounts (maybe not of a life time, but in over a decade or even generation perhaps!) - and it's happening, albeit, at a higher tempo, and during bad times sadly.

If we can get through this - maybe society will reflect and change things - and we'll have some change in our own pockets too!