Replies to post #47944 on Short Term Trading Member Forum

[techcharter]

FTSE Ending Diagonal

http://stockcharts.com/h-sc/ui?s=$FTSE&p=D&yr=1&mn=0&dy=0&id=p79212065201

Wave 1 July 2013 low to Aug 2013 high zigzag
Wave 2 August 2013 high to October 2013 low zigzag
Wave 3 October 2013 low to January 2014 high zigzag
Wave 4 January 2014 high to April 2014 low TRIANGLE!!!
Wave 5 April 2014 lows to Today? zigzag.

So far the ending diagonal AND Wave 5 are truncated. If today is the top, then a very sharp pullback is expected, as in CAC, SPX, and INDU.

I have developed a spectral analysis tool that uses 3 to 5 band pass filters and a moving average to model markets. For the FTSE it's screaming top and sudden drop.