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Tuesday, May 15, 2012

Update on FTSE: May 15, 2012

~reposted from


In response to several requests from readers across the pond, I'm taking a crack at the FTSE 100.  For some reason, Think or Swim (my trading platform) doesn't quote the FTSE itself, but does the FTSE 100 mini -- 1/10 of FTSE's value -- that goes by the symbol UKX.

UKX had retraced a little over .786 of its 2007-2009 plunge when it topped out in February 2011 at 609.58 (.786 is the normal completion point for a Gartley.)  It subsequently fell 20% to 486.86 last July, then retracing about .886 to reach...

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