Well, it failed in the 5400 region... AGAIN and does look like a top is being formed. There is one count that i havent mentioned which looks good on the dow but i thought not too good on the FTSE, i maybe wrong. This is the expanded flat wave 2 count. The fibs seem to be fitting pretty well on this.
Take the 1st July to 14th July top as Wave 1 of c being 519pts. Now if Wave 3 is 0.618 in length of wave 1 we get 320pts. Take the top of wave 3 on 27th July to the start of wave 3 on 20th July and its 324pts. Thats close enough to count as a 0.618. Now if Wave 5 which i guess we're in now is 0.618 of Wave 3 it equals to 200pts. Take the start of wave 5 on 30th July and add 200pts we get 5438.
5438 is again a significant number as its the 0.618 retrace of the drop which started on 15th April. And what do Wave 2's normally retrace Wave 1 by??? yes, 0.618!!!
Well, its just some ratio analysis which fits well this count. So tomorrow could be a classic buy the rumour sell the news situation ahead of NFP.
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