To-days action feels very much like profit taking, rather than a change of direction for the FTSE. Therefore, think this is a wave 4 of 5 and that there is a final wavelet 5 to complete the move from 24/03/2004
well the figure of 00 definitely was a magnet for the futures, i was surprised at the strength of sell off from the off, maybe we can start to see tests of levels now the figure has been touched (well a tick away)
bonsai i'm a technical novice, picking things up week by week so can you explain what you meant by your macd comments?
are you looking at macd over say a month when it seems to be between 3.4 and -3.5 on my charts and seeing it approach 0?
if so what does that mean?
I do not want to get anybody excited, BUT have you seen the positive moves in the Pharmaceuticals. Glaxo has suddenly found some friends. The combination of both rising Oils and Pharmaceuticals.........