FTSE

Thanks T/s. On the other hand, a close below 6106 (an even better a close below 6100) would leave a shooting star at this important level with bearish RSI and MACD divergences so a short would be in order then with a stop above today's high I suppose.

It would be a bit surprising if it brokw through 6106 on its first attempt at that important level.

There are obvious trades either way here so the key is to wait and see how it closes and then follow that IMHO.

6097 it is then....

6101.51 is what i have.... checked bloomberg, reuters and on the home page of chartsview...

Jackozy wrote: 6097 it is then....

Yep, thanks WS, updata's end of day download corrected the chart to the figure you gave.

here's what im looking at. dl.dropbox.com/u/40497882/ftse11Jan13.JPG

wrt to targets, interim target i have for this intermediate wave 3 is approx 6358 (int w1= int w3) this takes into account both minor wave 4 correction and minor wave5 of 3. well that how i see it, suggestions welcome.

a 161 fib ext comes in at around 6403.5

regards WS

WaveSurfer wrote: I tend to agree, i 've had an interim target of around 6141-6171 area before xmas as per previous thread, i may need to re-adjust this target now

I think we are in an early state of minute 3 of int 3 of major 3 of 5.... well that what im counting it as..... will try n post up a chart later and some new targets.

I also see US indices making new highs very soon.

I'm going long on a backtest of 6106. Best place for a stop would be below 6053 which is quite wide. There's always the chance that this was a false breakout but it's had a few opportunities to drop from here and hasn't yet...