FTSE - So where is the support

-->Captain..here's the chart you were looking for - hope it helps:



..with commentary, for ease of reference:

"The leg down we show in the chart above in red is likely to be the down phase of the 4-year cycle. We show it stopping on the rising support polytrendline, but it could end below that line. The time of the low is likely to coincide with the apex of the ascending wedge in early March, probably in the first week of March. As you can see, the last ascending wedge's apex corresponded within two days of the last buying opportunity low. This coming low is likely to be an even better buying opportunity because it will correspond to the 4-year low (the July low corresponded to the 40-month cycle low, which landed exactly on time). Once the 4-year low bottoms and turns up, it will add its upside pressure to that of the 40-month, which is now 5 months into its up-phase. If investors follow their usual pattern, they will be extremely bearish in March and looking for much lower stock prices, just as they were at the last buying opportunity. Note the behavior of the volume oscillator at the July low -- it was forming a strong pattern of much higher lows, with the July low occuring barely below the zero line in the oscillator, an indication that the downside move was running out of gas. Contrast that with the new highs in price being made now with the volume oscillator "highs" -- the latter are occuring very near the zero line or below! This indicates that the smart money is selling into the rally. These same savvy investors will be buying at the next major low."

[source: Bob Carver as reproduced with his written permission on the following Advfn pbb link - ]

Fwiw, the same TA applies to the UKX - the base of its rising Bearish wedge is 5500.

-->GSands, thxs for posting Bob Carver's material up here - just crawled thro' 350 posts to see it..keep forgetting this thread is not pbb, many quality posts.

-->Taffee, thxs for sharing your insights, etc...am with you all the way - mother of all corrections is promised, not guaranteed though. See you on the DOW, UKX for me..either way 20%+..lots of whipsaw/fast rallying action too..cud be done fast, with 4 year cycle low due in circa March 2007..skates on soon to trade Hooya's "is!!" ;-)

Best wishes all for now, t.