$FTSE - Where to next? Longer term.$FTSE - Where to next? Longer term.
Here's a look of what could happen with the ftse going forward.
Technical view:
Got a stocks and share ISA? Take advantage of the great price points. As we are getting towards end of the year adjusting portfolio and to seek out further long term positioning. One specific instrument I have been looking at is the FTSE - Any pull back towards 700-630 - I will be buying the dip! The same principle goes for various other indices as well. FTSE - Inverse H&S if we break below 620 - this idea is no longer valid. I will be taking into considerations fundamentals as well.
Not Signal Provider or Investment Advice
ISF trade ideas
ISFA (FTSE100 ETF) - downtrend to new lows continuesISFA continues on its way down to new lows. In the shorter term view, it seems to have finished, or nearly so, minor counter-trend wave 2. The next move should be minor 3, where the most probable target is is below 5,900. If prices crosses up 7,220, this analysis should be reviewed. FOLLOW SKYLINEPRO TO GET UPDATES.
ISFA - FTSE 100 ETF - more than 35% down aheadFTSE 100 represented by its ETF is tracing down a cycle wave C that should bring prices down to around and additional 35% reaching its bottom in one to two years ahead. Retracements with opportunities for returns in the upside should occur during its path and we will be posting them here. The short term analysis is in the comments. FOLLOW SKYLINEPRO TO RECEIVE THE UPDATES.
ISF (FTSE100) Chart - Clearer PictureSometimes the EW pattern shown by the ETF that tracks the FTSE100 is clearer than the UKX chart.
This chart of the ISF ETF shows my current idea on the FTSE100 which I believe has completed a very long
ending diagonal from 2009 at wave (5).
The 2009 trend line has been broken and then retraced back below it.
The final impulse leading up to (5) was difficult to label but the labelling shown fits with the 1.618 ratio
of wave v to waves i-iii. The downward track so far is not clear and I will attempt to label this going forward.
Good Luck