The FTSE 100 is leading the way

07/08/2021

The FTSE 100 is leading the way

Two weeks ago I said the FTSE 100 would go down/ sideways, as you can see on the chart my analysis was correct. The FTSE did not follow the US markets higher, in fact the FTSE 100 and the S&P 500 are diverging.

The FTSE is leading the way, it tells us the S&P will turn down too. Right now I can't be sure the S&P has turned down, it is possible the US index is in a fourth wave down, this will be confirmed later. A rally to 4400 in the S&P is still possible but the fact that the FTSE is going down is not good news.

Posted by Better Trader on 07/08/2021 at 04:14 PM in Elliott Wave, FTSE 100, S&P 500 | Permalink

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Better Trader

07/08/2021