• 825 days Will The ECB Continue To Hike Rates?
  • 825 days Forbes: Aramco Remains Largest Company In The Middle East
  • 827 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,227 days Could Crypto Overtake Traditional Investment?
  • 1,232 days Americans Still Quitting Jobs At Record Pace
  • 1,234 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,237 days Is The Dollar Too Strong?
  • 1,237 days Big Tech Disappoints Investors on Earnings Calls
  • 1,238 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,240 days China Is Quietly Trying To Distance Itself From Russia
  • 1,240 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,244 days Crypto Investors Won Big In 2021
  • 1,244 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,245 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,247 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,248 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,251 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,252 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,252 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,254 days Are NFTs About To Take Over Gaming?
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to…

Contact Author

  1. Home
  2. Markets
  3. Other

FTSE Elliott Wave View: Mature Cycle

Short Term Elliott Wave view in FTSE suggests the rally from 4/20 low (7096.6) is unfolding as a zigzag Elliott Wave structure where Minute wave ((a)) ended at 7302.57 and Minute wave ((b)) ended at 7197.28. Subdivision of Minute wave ((a)) is unfolding as an impulse where Minuttte wave (i) ended at 7134.53, Minutte wave (ii) ended at 7104.22, Minutte wave (iii) ended at 7290.82, Minutte wave (iv) ended at 7262.32, and Minutte wave (v) of ((a)) ended at 7302.57. Index has since broken above 7302.57 suggesting Minutte wave ((c)) has started.

Minute wave ((c)) is currently in progress as an ending diagonal where Minutte wave (i) ended at 7280.7, Minutte wave (ii) ended at 7222.81, Minutte wave (iii) ended at 7398.58, and Minutte wave (iv) ended at 7369.23. Index has reached 1.236 extension of the Minute ((a)) – ((b)) and thus minimum requirement has been met for Minor wave 1 to complete and cycle from 4/20 low to end, although a marginal high still can’t be ruled out at this stage. Expect Index to correct cycle from 4/20 low soon within Minor wave 2 in 3, 7, or 11 swing before the rally resumes. We don’t like selling the proposed pullback and expect buyers to appear again when Minor wave 2 pullback is over in 3, 7, or 11 swing.

FTSE 1 Hour Elliott Wave Chart

(Click to enlarge)

Back to homepage

Leave a comment

Leave a comment