.

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
.


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, 24 April 2011

FTSE - breakout or reverse ?

If the FTSE breaks out ( by no means a foregone conclusion) a 3 week rally to the 6300-6400 area has some time and price symmetry as evidenced below.

 

 However the FTSE daily chart still shows potential for a trend reversal in place,with the failed break ,the LL and LH.Next week's action is likely to prove critical as to which outcome develops.Last year the FTSE led the US markets lower so it is a key market to watch.Note we made a high on the 1 year anniversary (Gann cycle) which the US markets face this week







Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)