What is the FTSE 100 market position?
When evaluating the timing and analysis of the stock market we always check the market position of the FTSE 100. The FTSE 100 has a higher correlation with any global stock market indices than the S&P500. If you are aware of Gann’s work than you probably have noticed that the FTSE 100 turned its’ course on bang on the 60th and 90th days(degrees) of trading, since the bottom in March. See below chart. Yes, from above chart you will see we did not use the lowest low date, but instead the lowest close date (which is 3 days earlier). You should always look at both options. A three days earlier or later start of your counting could lead to 1 week difference in final timing. You also can conclude that there are some important Fibonacci relationships in price and time unfolding. The first advance in price up to wave A was a 987 (Fibonacci) point advance since the lowest close on March 3rd 2009. Wave C could still well be double that amount (1974 points) from that point, it is bang on the Andr
