Looks like the 4 month Bull market move from 5605 in November has peaked at 6534 last week. Fears of a Banking crisis in Cyprus has put the market on edge. The Cypriot government will not let the Banking system go bankrupt on Monday 25th March. Look for the ECB to give way and temporarily loan Cyprus enough money to give everyone time to come to a resolution.
FTSE has risen 929pts in 4 months and look like it is going to retrace 50% of the move back to 6000 level sometime in late May. Target date is 24 May.
FTSE has risen 929pts in 4 months and look like it is going to retrace 50% of the move back to 6000 level sometime in late May. Target date is 24 May.
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