• 323 days Could Crypto Overtake Traditional Investment?
  • 328 days Americans Still Quitting Jobs At Record Pace
  • 330 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 333 days Is The Dollar Too Strong?
  • 333 days Big Tech Disappoints Investors on Earnings Calls
  • 334 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 336 days China Is Quietly Trying To Distance Itself From Russia
  • 336 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 340 days Crypto Investors Won Big In 2021
  • 340 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 341 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 343 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 344 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 347 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 348 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 348 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 350 days Are NFTs About To Take Over Gaming?
  • 351 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 354 days What’s Causing Inflation In The United States?
  • 355 days Intel Joins Russian Exodus as Chip Shortage Digs In
Trade In Counterfeit Goods Hits Half A Trillion Dollars

Trade In Counterfeit Goods Hits Half A Trillion Dollars

The counterfeit market has breached…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

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 Short-Term Elliott Wave Analysis 10.26.2017

FTSE Short-Term Elliott Wave view suggests that the Index ended Primary wave ((4)) with the decline to 7199.5. The rally from there is unfolding as an impulse Elliott Wave structure where Minor wave 1 ended at 7327.5 and Minor wave 2 ended at 7289.75. Minor wave 3 rally ended at 7494.34, and Minor wave 4 pullback ended at 7473.12. Minor wave 5 ended at 7565.11 and this also ended Intermediate wave (A) of a zigzag Elliott Wave structure from 9/15 low (7199.5).

Intermediate wave (B) is currently in progress as a double three Elliott Wave structure. Down from 7565.11 high, Minor wave W ended at 7485.42 and Minor wave X bounce ended at 7560.04. Near term, Intermediate wave (B) is expected to complete soon at 7432.25 – 7462.96 and Index should then resume the rally to new high or at least bounce in 3 waves. We don’t like selling the Index.

FTSE 1 Hour Elliott Wave Analysis

(Click to enlarge)

Zigzag is a 3 waves corrective pattern which is labelled as ABC. The subdivision of wave A is in 5 waves, either as impulse or diagonal. The subdivision of wave B can be any corrective structure. Finally, the subdivision of wave C is also in 5 waves, either as impulse or diagonal. Thus, zigzag has a 5-3-5 structure. Wave C typically ends at 100% – 123.6% of wave A.

Back to homepage

Leave a comment

Leave a comment