This is the FTSE expanded flat Primary wave 2 count on the weekly chart. The count i have is we're in the 5th wave up of the C wave which began at the March lows in 09. Of that 5th wave, i have 3 of 5 done. We now drop for the 4th wave before the final 5th wave up takes it to the 6000 mark, and top of the weekly channel.
If this is indeed a 4th wave correction starting today i have 5500 as a potential 38.2 retrace of wave 3 target. We'll see how it falls though cos again we could be topping P2. (again famous last words) The chart looks like a similar scenario to when we topped on 2007, so the way we drop will give clues as to whether P3 has actually started
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