FTSE 100

Interesting that the FTSE has broken it's trend line from 2009 on the 19th August, I've posted the monthly chart for the bigger picture.

www.dropbox.com/s/7hgxvth1azcxxxc/FTSE10...gust%202015.png?dl=0

maximum fear today. next supports.

Anyone agree we have a bear flag here with a target of 5700 ish, would also be the area of 61.8% fib

Hi. Which area are you referring to the 61.8 fib?

Cheers

Hi all,

IMO this will go to 5600 minimum in the short term, being the 200SMA on the monthly:




Before that trendline support in the 5910 area and horizontal at 5768:




5600 should at lease take all the froth off the markets and allow a moderate move higher but it is clear that the 5 year bull cycle is over.

F4T

Nice breakdown of the bear pennant and caught by trendline support. 61.8 fib in 5965 area should now provide resistance and push downwards.

Am still looking to 5600 and will review then. RSI support will give us some indication as to potential bottom.