Our analysis pointed to a 5 wave pattern on the FTSE last week which we projected to complete between 6080 - 6120. Friday's high came in at 6084 just before the non farm payrolls so at this stage we can assume the pattern has completed and a decline to 5850 is under way.
To add to the wave count we also saw a negative outside day on Friday - The FTSE made a new high but then closed lower than the previous day's low and below 6000.
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