• 16 hours Lunar Mining May Commence As Early As 2025
  • 1 day Immigration Will Go Bust Without $1.2B Bailout
  • 2 days The Economics Of The Space Race
  • 3 days Why The World's Central Banks Aren't Yet Sold On Renewables
  • 3 days How Much More Cash Can Uber Burn?
  • 4 days Inside The Biggest Counterfeit Gold Scandal In Recent History
  • 4 days EU-U.S. Trade Relations Are Deteriorating
  • 4 days Over 184 Companies Have Bailed On Facebook
  • 5 days BP Sells Petrochemical Business For $5 Billion
  • 5 days U.S. Moves To Secure Domestic Rare Earth Supply
  • 5 days E-Commerce Explodes As Boomers Go Digital
  • 6 days Major U.S. Cities Are Turning To Renewables
  • 6 days Economic Reopening Backfires, COVID Surge Snaps Recovery
  • 7 days How Are Low Car Sales Impacting The Metals Market?
  • 7 days Are Gold Stocks Still Undervalued?
  • 8 days Singapore's $3 Billion Oil Trading Scandal
  • 9 days Luxury Clothing Isn’t A Priority As Americans Grapple With COVID-19
  • 9 days Natural Gas Demand Hits 25-Year Low
  • 10 days Gold Inches Towards $1,800 As Investors Pile Into ETFs
  • 10 days The War On Gold Has Begun
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

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 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