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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: Perspective who wrote (125543)	10/29/2005 10:04:37 AM
From: skinowski	Read Replies (1) \| Respond to of 209892

We don't really need EWI to see that the recent decline in $FTSE looks pretty impulsive: stockcharts.com[p,a]daclyyay[db][pb50!b200][vc60][iUb14!La12,26,9]&pref=G But the question is - do the European indices lead the US? Doesn't really look this way. If anything, the relative weakness in $SPX could have been used as an indication that the early Oct top in $FTSE may not hold. Longer term $FTSE is still in a healthy uptrend, barely threatening its 200 dma: stockcharts.com[p,a]daclyyay[df][pb50!b200][vc60][iUb14!La12,26,9]&pref=G (interesting momentum divergences on this chart. They really provided warning that there may be a top in the near future) Even if FTSE did begin a major decline, there is nothing to prevent it from having a long, rambling Wave 2 rally.