FTSE tagged it's 50ema(5315) and closed 10pts above. The FTSE has risen 9 out of the last 10 days. Looking for a HIGH today or early next week between 5330-5397, followed by a retrace of the move up from Monday 8th Feb (5033). Target Low date is Monday 8th March, the 1 year Anniversary of the low on Monday 9th March 2009 at 3461.
Last time the FTSE moved up 403pts (7.8%) in 13 trading days from 5197 (21Dec) up to 5600 (11Jan) it fell over the next 20 days, hitting a low on Monday 8th Feb at 5033, down 567pts (10%)
In November 2009 the FTSE moved up 412pts (8.3%) in 9 trading days from 4985 (03Nov) up to 5397 (16Nov) it fell over the next 9 days, hitting a low on Friday 27th November at 5104, down 293pts (5.5%)
In September 2009 the FTSE moved up 413pts (8.6%) in 14 trading days from 4777 (02SEP) up to 5190 (22SEP) it fell over the next 8 days, hitting a low on Friday 2nd October at 4955, down 235pts (4.5%).
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