Ftse broke through 6200 last week,which was a little surprising given all the previous failures,but that is what stops are for. We also sliced through the 6250 Murrey Math level . We are very close now to the 1 year anniversary of the top ,360 degrees in time. 6400 is standing out to me as the next major level and looking at some of the previous ranges for a countertrend rally 6420 also fits with this (chart below)
7122 - 1080 = 6402
5500 + 900 = 6400
The dates for the April 2015 top were April 17 and April 27.The "flash crash" top in 2010 was April 15
We are currently above 50% of the bear range at 6311 and below the 61.8% level at 6502
I would recommend Korelli's blog for further charts on the Ftse
http://korelli.typepad.com/blog/2016/04/spx-russell-2000-nyse-comp-vix-jnk-ftse-british-pound-17th-april-2016.html
7122 - 1080 = 6402
5500 + 900 = 6400
The dates for the April 2015 top were April 17 and April 27.The "flash crash" top in 2010 was April 15
We are currently above 50% of the bear range at 6311 and below the 61.8% level at 6502
I would recommend Korelli's blog for further charts on the Ftse
http://korelli.typepad.com/blog/2016/04/spx-russell-2000-nyse-comp-vix-jnk-ftse-british-pound-17th-april-2016.html
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