I have spent some time going over my long term FTSE chart and here is my updated idea which seems to fit common EW alternation and fib levels. Wave 5(5),V looks to be complete but has not reached the common .618 value of waves 1-3 which is at 7631 as per the blue dotted line. My gut feel is that we may have a final thrust up to this level via an extended flat sometime in the next few months. The US SPX,DOW are in primary wave 4 at present and look to have 1 more wave up to go. Caution is required at present but the long term picture looks to be down via a large correction at supercycle degree!
Good Luck
Good Luck
