FTSE 100 January

[mully]

Good old FTSE250 telling the more reliable story.

However, for all you EW watchers, is there a five count in the making/completion from the 6144 top on 19/01/04?

 

[bonsai]

sorry mully, just cant say
only keep eod for 250
and it looks like a straight line from the top ?
the first bounce may tell us.

btw I have fib support around 5860 which is still some way off
but may get tested ?

 

[bonsai]

hooya
channel at 4425
it's an hourly chart

 

[Hooya]

here are my extreme lines.

 

[bonsai]

good test of trend ?

and don't forget it's the Superbowl this weekend !!

 

[Hooya]

can't wait

 

[mully]

Bonsai,
here's are the FTSE250 charts

 

[Hooya]

and for the entertainment they have

Entertainment: Aerosmith, Toby Keith, Willie Nelson and Walter Suhr and Mango Punch

National Anthem: Beyoncé Knowles!!!

Halftime Entertainment: Janet Jackson, P. Diddy and Kid Rock

LOL

 

[mully]

Just a reminder from an earlier post

Bonsai and all you Fib watchers.

Using the December-January FTSE 100 run 4312-4529
gives the following Fibs

38%= 4446
50%= 4420
62%= 4395


Obviously FTSE100 is at 50% fib currently which maybe causing it to pause/hestitate.

 

[mully]

Interesting.

If you go back to the beginning of this run up
in the FTSE100 from the middle of December,
the first move up (wave 1?) peaked at 4397.
Remarkably close to the indicated 62% retractement
level of 4395.

Only time will tell,
but it might be an area to keep a close watch on.

 

[mully]

Here is the FTSE100 hourly chart to save you all looking

 

[Hooya]

thanks MUlly

 

[bonsai]

futures expired at 4406 on the cash in December !

 

[Hooya]

I had 4410 for some reason...my mistake

 

[bonsai]

lol

I picked off the ftse figure at 10.30 at the time
but there is always a settlement difference

10 seconds later it could have been anything.
so yours could be correct.

 

[Hooya]

just for info: Just checked zz3 chart and it closed at 4410

 

[bonsai]

that's why I made a point of quoting the cash market at the time.

 

[mully]

AstraZeneca results pushing FTSE back to its lows of the day.

 

[mully]

First test of FTSE100 intra-day low has held.

 

[Hooya]

I am getting some indictaors turning up and bullish divergances short term....but a bit warey of it all at the mo