Waves, Patterns & Projections (2004)

Thanks for that littlechops1 !

Today looks like a classic break day Down for FTSE with the earlier 6209 some (00.80%) off yesterday's 6259......I now suspect that the first few days of next year will lead to new highs (still fancy c6368 for FTSE) but then we will be set for a dire Q1 2007 as America enters its correction and FTSE has to further consolidate the 5 mini Segment gains from 5467.

Assuming c6368 is reached early next year, then that would represent a non too untypical c16.48% (+901 points) of Phase gains from 5467 and the Phase base progression would stand at 4774:5131:5467 so we are probably looking at somewhere between 06:00% and 07.00% beyond 5467 which gives a target range of c5795:5850 before the upcoming Down Phase has run its course.

Still a chance that WPP will get to my short-term target of c729.25p in the first few days of next year prior to its correction !