FTSE (Footsie) update

FTSE NOV20 2013ftse nov 20 2013 s

It was half a year ago that we latched on to the Footsie as one of the most   “expressive” indices , that had completed a very clear 5-wave down movement. The A-B-C that follows is essentially identical to the much larger A-B-C B-wave from the March 2009 lows. So far, despite retracements reaching almost 100%, these patterns have not negated the larger notion that the FTSE started its bear market back in May/June of this year. So, if it is not broken, we will not fix it and just wait to see what happens next.