FTSE – Financial Times Stock Exchange (London, UK)

Last updated May 20, 2019.

Corrective wave down to the 200d SMA, followed by a -to be expected from that SMA- push higher. A break below last week’s low -and thus the 200d SMA- can target the blue long-term uptrend line in rapid fashion.  

Bigger picture-wise price is working on a very large diagonal IMHO off the March 2009 lows. Question is if the diagonal already has ended or if it currently is working on wave-D with a final wave-E to come. Regardless, even in the latter case price will go lower first before moving higher.