Looks like the move from 5605 in November peaked
at 6534 on Tuesday 12th March.
Back in March I said "The Cypriot government will not let the Banking system go bankrupt. 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. Late April/early May is normally the time for the market to peak, 5800 on 26th April 2010, 6104 on 3rd May 2011 and 5820 on 2nd May 2012.
I'm looking for a peak around 6500 before a 50% retrace of the move from November 2012 back to 6000 level sometime this summer.
Back in March I said "The Cypriot government will not let the Banking system go bankrupt. 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. Late April/early May is normally the time for the market to peak, 5800 on 26th April 2010, 6104 on 3rd May 2011 and 5820 on 2nd May 2012.
I'm looking for a peak around 6500 before a 50% retrace of the move from November 2012 back to 6000 level sometime this summer.
2006 Tue 13 Jun 5467
ReplyDelete2007 Fri 17 Aug 5822
2008 Wed 16 July 5071
2009 Mon 13 July 4100
2010 Thu 01 July 4790
2011 Tue 09 Aug 4790
2012 Fri 01 Jun 5230