31/03/2012

FTSE week 2006 - 2012

FTSE100 until March 30, 2012. The double top to the left is all time high 2007. To me it looks at present as the bull market since 2009 is over. The top was 6.093 in April 2011. The 2012 top was 5.965.
To me it also looks like a big head and shoulder and the right shoulder is now complete. Right now it seems like the next move will be down to the neckline at 5.000 which I think will break taking FTSE down to 4.000 area long term. FTSE use to show the way for other indexes so I am not bullish for the markets any longer.

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