The US main stock indices continue to have multiple Elliott wave alternative counts.
The UKX has a very clear Elliott wave count and could be a guide to help time a possible major global stock market top.
UKX decline from its all-time high was a clear double zigzag pattern.
Today 9/21/18 the UKX had a very strong rally that pushed above the .382 resistance level.
The message from the momentum indicators is very strong: 1) Stochastics is well below being overbought.
2) RSI is in neutral zone.
3) MACD today had a bullish crossover.
If rally continues it could last until mid- October, price target is in the 8000 area.
Mark
The UKX has a very clear Elliott wave count and could be a guide to help time a possible major global stock market top.
UKX decline from its all-time high was a clear double zigzag pattern.
Today 9/21/18 the UKX had a very strong rally that pushed above the .382 resistance level.
The message from the momentum indicators is very strong: 1) Stochastics is well below being overbought.
2) RSI is in neutral zone.
3) MACD today had a bullish crossover.
If rally continues it could last until mid- October, price target is in the 8000 area.
Mark