FTSE Big picture update 19Oct12 – The Thorns are bigger than the Rose!

In the previous big picture FTSE - a Rose between Two Thorns, I was expecting the retest - which as projected failed, and now here we are two more fractal waves scales down with 2 more retest failures!! Not good for UK which by my analysis is much further down the road of decay than Germany which is one sub wave ahead of the DJIA! However we all know that even with traditional EW analysis of ABC etc that can change fast!. Those of you who are familiar with EW replace each colour scale -2 with a b and you will clearly see the nesting of b's! Not good coming off a high!

So big picture 99 Top

Zooming in from 07 top;

And again from the 09 bottom.

Watch for the break of the up sloping DMLU. This time I don't think we will get a retest!

Marc

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