• 14 hours Why Germany Is Going To War With Gold
  • 2 days Gold Is Still Cheap Compared To Stocks
  • 2 days Are Cryptocurrencies Funding Terrorism?
  • 3 days Promising Oil Companies To Watch In 2020
  • 3 days Could China's Coronavirus Outbreak Impact U.S. Stocks?
  • 4 days Tesla Stock Continues To Soar
  • 4 days What New Economic Data Reveals About Gold's Trajectory
  • 5 days The Lucrative New Tech Hijacking Your Privacy
  • 6 days The Biggest Loser In The China-U.S. Tariff Tit-For-Tat
  • 6 days Trade War Takes Its Toll On Shipping
  • 9 days Is $90 Oil Possible? An Interview With Jay Park
  • 9 days Billions Of Dollars Are Flooding Into The Flying Taxi Space
  • 10 days Is This The Most Important Energy Project Of 2020?
  • 10 days Startups Are Dying To Give You A Better Death
  • 11 days U.S. Restaurants Are Struggling With Rising Labor Costs
  • 11 days The Banking Bonanza Is Just Getting Started
  • 12 days How The Trade War Ceasefire Will Impact The Energy Industry
  • 12 days Who Is The Most Dangerous Person On The Internet?
  • 13 days SoftBank Sees First Quarterly Loss In 14 Years
  • 15 days Prepare For An Oil Glut In 2020
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

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 Analysis 10.11.2017

FTSE Short term Elliott Wave analysis suggests the decline to 7196.58 on 9/15 low ended Primary wave ((4)). The Index is currently within Primary wave ((5)) which is subdivided as a zigzag Elliott Wave structure. The first leg Intermediate wave (A) of this zigzag is in progress as 5 waves impulse where Minor wave 1 ended at 7327.50 and Minor wave 2 ended at 7289.75. Up from there, Minor wave 3 ended at 7527.59 and Minor wave 4 ended at 7493.68. The Index has broken above Minor wave 3 at 7527.59, suggesting that it’s in the final Minor wave 5 higher which should also complete Intermediate wave (A).

Cycle from 9/15 low is mature and Intermediate wave (A) could end soon. Once Intermediate wave (A) is complete, Index should pullback in Intermediate wave (B) in 3, 7, or 11 swing to correct cycle from 9/15 low (7196.58) before the rally resumes. We do not like selling the proposed pullback. As far as pivot at 9/15 low stays intact in the Intermediate wave (B) pullback later, expect Index to extend to a new high.

FTSE 1 Hour Elliott Wave Chart

(Click to enlarge)

Zigzag is a common type of corrective structure. It’s a 3 waves corrective structure labelled as ABC. Wave A has an internal subdivision of 5 waves and can be either an impulse or a diagonal. Wave B can be any corrective structure. Finally, wave C also has internal subdivision of 5 waves and also can be either an impulse or a diagonal. Zigzag therefore is a 5-3-5 Elliott Wave structure. Wave C typically ends at 100% – 123.6% of wave A. 

Back to homepage

Leave a comment

Leave a comment