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Just so you know, EWI (Prechter) has us in Primary 3 with a target of the equivalent of 500 on the FTSE by early 2011. A massive debt default implosion that the money printers (central banks) can't stop.
The big drop will come when the 200dma is lost.
Schweizer135 2 years ago
Yeah I know he is very very bearish...
I am not certain I am quite as bearish..
but certainly taking his view into consideration.
I would be caucious about his timings...
he can be quite good at direction, but his timing is too often premature.
Thanks for popping on to comment on this one though, will try and post another one tonight...
ftse count getting abit messier...
but so far still holds...
US closed today and light volume can do wonders lol
Andronichuk 2 years ago
Awesome!
Schweizer135 2 years ago
I possibly made a counting mistake...
it may be possible that the roman numeral degree wave "i" is in....
and this mornings open may be the "ii"...
move below friday's low may be sharp!
Key upside level: 5530
move above this would bring the count into question
Best of luck with trading this crazy market :)
Andronichuk 2 years ago