• 771 days Will The ECB Continue To Hike Rates?
  • 772 days Forbes: Aramco Remains Largest Company In The Middle East
  • 773 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,173 days Could Crypto Overtake Traditional Investment?
  • 1,178 days Americans Still Quitting Jobs At Record Pace
  • 1,180 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,183 days Is The Dollar Too Strong?
  • 1,183 days Big Tech Disappoints Investors on Earnings Calls
  • 1,184 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,186 days China Is Quietly Trying To Distance Itself From Russia
  • 1,186 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,190 days Crypto Investors Won Big In 2021
  • 1,190 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,191 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,193 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,194 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,197 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,198 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,198 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,200 days Are NFTs About To Take Over Gaming?
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 Index Elliott Wave View: Ending A Cycle

Short Term Elliott Wave view in FTSE Index 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. FTSE Index has since broken above 7302.57 suggesting Minute 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 7460.20, and Minutte wave (iv) ended at 7435.64. Index has reached 1.618 extension of the Minute ((a)) – ((b)) and thus cycle from 4/20 low is mature and Minor wave 1 can be called completed at 7533.7. Expect FTSE 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 Index 1 Hour Elliott Wave Chart

(Click to enlarge)

Back to homepage

Leave a comment

Leave a comment