I do not forecast, I only observe. The market could have taken out previous support but did not. The US needn't have turned around, but it did....My comments referred to "short term"- i think that is true.
I have no idea what the markets will do. What I do not do is try to formulate an expectation (based on personal EW view) on where I want the market to go ( to justify my position???). The market will do what it has to do. All I do is notice where it holds or breaks support/resistance and very humbly follow the markets lead.
I forgot to add that a short term move from 4115 to 4160 (current) is not to be sniffed at , by me certainly. But then I am no star trader, just humbly following the market's lead. Tomorrow is another day another opportunity etc...
I was not being critical,moreover just trying to point out that price action on FTSE suggested we would have led lower if not for the US.
Agreed ,the FTSE moved forward and you can only trade what you see,but the move up didn't seem convincing IMO
4140,28,15 could also be considered lower lows.
Todays close above 4150 could be significant tho',monthly high.4170/75 key for 2row.
As ever,much depends on US but it will be interesting to watch whichever way it goes.