This chart shows FTSE's great 9 year rally from start point at the lows of 2009 to the end point on 11.01.18. This cycle
forms part a longer 9 year year cycle that was described and shown in last FTSE comment. The lines of support and
resistance are clear and should be helpful in coming trades...
FTSE has bounced excatly where it should have (last comment) and rallied to exactly where it should have within 3
points or so. Day traders and bottom fishers have closed out where you'd expect looking at the lines and now left FTSE
vulnerable to further selling pressure...looks quite likely to restest the 7085 line here and if this cannot hold it will fall
away further still to 6904 and just under to 6870 - but it should try to put up a fight at 7085 if tested later - it's most
likely the key level today, being positive above here and negative below.
On upside it has to break above 7210 and hold to trigger a long up to 7294.
Markets are due to remain voolatile - A break below/above any blue line should lead to a test of the next one. But run
stops around 30 points higher/lower than the trigger levels and trail up/down. Still expect a bottom to be reached
between 3rd and 10th March as per last comment but it can whipsaw in between and should present some decent
trades (with stops) as a result.