This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
Sunday, 18 September 2011
FTSE
This count would call for a violent 3rd wave starting soon
I am not big on EW and no doubt this count will be wrong...I just think the TA looks bearish...6 months of distribution,below the 50dma,which is below the 200dma...and global growth backdrop worsening...so the bull case hangs on more QE ?
What with so many people selling the hole and so many attempts to drive things lower and all, it's going to be interesting to see how this resolves.
ReplyDeleteThe big short setup is indeed bigger, but that isn't always enough.
http://img98.imageshack.us/img98/8035/ftse190911.jpg
I am not big on EW and no doubt this count will be wrong...I just think the TA looks bearish...6 months of distribution,below the 50dma,which is below the 200dma...and global growth backdrop worsening...so the bull case hangs on more QE ?
ReplyDelete