FTSE - So where is the support

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easytimes - Fri, 29 Dec 06 :

The next big drop (which will be a retracement of this rally) will be another buying opportunity. We will only ever get a big drop (correction) if a higher number than normal release guidance signalling future earnings below market expectations. Of course we could get a thunderbolt out of the sky such as a major attack somewhere which would affect US interests and the markets would probably panic. Which one of those has the highest probability? Retracements of this rally leg give us the following fib levels: 0.25 = 12072, 0.382 = 11828, 0.5 = 11610, 0.618 = 11392. I'm struggling to see anything that will push this near 11392 at this point in time.


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