For the past 2 years, January has brought about a turn down in the indices. In January 2008, the FTSE fell as much as 1214 points. In January 2009, the FTSE fell as much as 728 points. If we're still in this bear market the bears are clinging onto, this month couldnt come any quicker! Looking at the wave count, we're nearly there. On the last trading day of 2009, we had another warning shot as the FTSE lost 71pts from the high, 25 of those in the last half hour of US trading. Across the indices, i feel was wave 4 before we get the final 5 waves to complete the P2.
The wave count does again seem more clearer on the Dax and S&P than the FTSE as per the charts.
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