.........take a gander at the ftse 100 for recent action in the generic charts you'll notice what looks like a correlative volume activity of pressure since the July lows now look more recently at the wedge formation.........Elliott pointed out that that EDW often move pass the outside of the wedge on a throw-over ........this would make the ftse goto 6360/70 ..........should the current upmove (set-up by a classic short-squeez manouvre) break into a 5 rather than the current 3 (3s are atypical of an EDW) then that would negate the EDW proposition...........(In May 06) I said in the SPX thread that a second edw that followed a recovery to new highs in either the spx or the dow would be a very bearish omen and I think this maybe the case for the ftse if my view is correct..........like the ftse did in April 06 and made a significant high well before the DAX or the SPX.........the ftse may now be leading the way once again.......not withstanding all the external markers that are arguing a top in the making I think the edw on the ftse is worth your taking a look at ..........
