OK folks back to trading ...lets put everything behind us !!
one last chart before I hit the sack
let the chart do the talking
FTSE 100 - H&S has been negated , hence emotive move in opposite direction = short squeeze = bulls in full control
add in china rate cut and lower dollar swap rates = bullish fundamentals
FTSE 100 is now bullish as we are past 75% fib retrace = bias change principle
FTSE target over the Xmas period looks like 200 MA @ 5650 is inevitable now as shorts get squeezed
there is a potential for a pull back to retest the break out level @ 5420, but this is a bull flag and I will certainly be looking to buy
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Hi WS, UUP 13month chart, if u draw a line from the high on 28 nov 2011 to the recent high 4 days ago(25th nov 2011) it appears Dollar index(uup) rebounded from this year resistance which led to bottoming in indices.