FTSE 100 - April

[mully]

Sumathik,

Financials are "underperforming" because people are fearful of higher interest rates.

This concern is helping the "defensive" pharmaceuticals,tobacco, beverages etc as investors seek reliable earning

 

[mully]

Bonsai,

I presume the LOL refers to both of us being being long the index

 

[splasher]

Cheers Mully
FTSE still feels strong today, futures spiked up to 93.5.
Difficult to have levels when we are reaching new highs

Splash

 

[sumathik]

thanks mully.

sk

 

[bonsai]

mully

not really. Your comment just seemed to reinforce what I had been typing as a post to splasher, that it pays to just follow the trend and not worry about why.

but glad you are 'riding the wave'

 

[mully]

FTSE 100 targets

Splasher,

Here is a chart with some indications of possible targets. Do look left to areas of support on the way down in 2002 as well.

 

[Hooya]

this was my short wave count i did on the other thread...any thoughts

 

[bonsai]

mully
I have just realised it wasnt your comment but Oatman's

hooya
looks fine to me except a 4 is usually a clear abc ?
so even now, I think we may still be in your 4

but .......

 

[bonsai]

try putting on fibs between your points 2 and 3

 

[Hooya]

for a retracement of wave 3 ?

edit:

there are some nice levels that correspond nicely to support and a possible gap fill

 

[Fluke]

Mully.

Just sent you a PM re Pinnacor.Urgent

Regards

 

[mully]

FTSe100

This looks like a complete (5 waves) from the 24/03/2004. Any thoughts?

I used the early morning rally failure (4550) to go flat. Now I suppose we await Greenspan's second testimony to-night which is on the economy. A chance for him to confirm or otherwise the impression left last night that rates are going up.

 

[Finirama]

Mully,

Make it the same..still trying to figure out whether this is wave 5 on the day chart or a wave 5??

 

[Finirama]

Ooops...meant to say wave B or wave 5?

Also...might be a H&S unfolding

 

[Hooya]

yup I had 5 waves upto yesterdays high that would have completed your 5th at the high. and looking at you chart looks like 5of 3 off the high has just been completed
????

 

[bonsai]

morning

no-one chatting ? problems ?

seems we have overlapping waves now but could still yet see another new high on the way shortly ?

 

[Hooya]

Morning wouldnt surprise me if we tested this line just to be sure the bulls are here

 

[Hooya]

and I forgot to add...and obviously if it fails

 

[bonsai]

I have 4472 as fib target if it breaks

but a retest of that area may not be necessary

 

[Hooya]

and I dont want it to leave the 569 gap up there either