Waves, Patterns & Projections (2004)

I digress.....the bottom line is that 6 years on from the peak of 6951 and FTSE is still (20.41%) off its high and this seems unjustified so I suspect that 2006 will see the clawback continue towards 6000. Sure a correction is due sometime in H1 2006 (possibly lasting 3/6 months) but it is difficult to envisage FTSE dropping below 5000 for many a year to come (and therefore no Bear market) particularly with a big hitter like VOD patently undervalued and poised to strike upwards in the new year and Oil stocks yet to even exceed their 1999 highs despite significantly favourable conditions for profitability.