The FTSE 100 continued on its downward path, approaching its calculated target at 5100*. Expect some retracement this week, but I would not place much reliance on support at 5100 — strongly suspecting that we will see a test of the June 2010 low at 4800.
* Target calculation: 5600 – ( 6600 – 5600 ) = 5100
The German DAX index has already passed its initial target of 6500 and is headed for a test of 5600.
* Target calculation: 6500 – ( 7600 – 6500 ) = 5400
Hi Colin
I always appreciated you newsletter and really like the blog. Please give the time zone for the post time. I assume it’s Aussie time – but not sure.
Thanks Terry. I use EDT as a standard for our forum and newsletters.
Hi Colin,
I like your newsletter and try to read it as often as possible. I really like your effort that you put out for the general public. By EDT do you mean US EDT or is EDT an Australian time zone. You do have fans all around the world/
Hi Sanjay,
Thank you for the feedback. EDT is US Eastern Time.