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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj


Sunday 22 May 2011

FTSE - ready to go ?

If this is a triple top with 2 lower highs we should decline pretty soon.Breaking the most recent 4x1 would open the door.This is the calendar bar count with spacing for weekends - the trading bar count has a more bullish option,with support from the 4x1 off the 2009 low (and from the 200dma) not far off (see post May 18 and bottom chart) - however I do believe the trading of the last few months is most likely distribution and FTSE is a commodity sensitive index which makes it vulnerable to further commodity price declines (mining,energy sectors)










here is the trading day chart




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