1. The move up from 13th March 2003 is reaching its climax.
2. The position on Friday has excellent topping potential. However, this is election time. There is always political grandstanding with the incumbent painting a successful picture of their skill in economic management. The market reacts to this. Generally if markets move up if they accept the incumbent’s claims. If they move down there is a rejection. Thus markets are excellent barometers of the election campaign
3. The pattern suggests that T4 is about to start. T4 can be a complex move that relatively takes time. . This is would not be a surprise. It may last a month or two until the election outcome is clear. What we have here is a potential market top. I suspect the down move will start as soon as the market determines the election winner. That could well before any of us casts a vote.
Market Data 
Markets 
AI
