No real change on yesterdays analysis so just a few points to run through this morning.
The FTSE is currently trading at 6078 so 27 points from making new highs this year and we are in the final wave up (wave 5) which has either completed or near completion. A false break cannot be ruled out to clear all the stops and this could occur at 1.30pm with the jobs report release but its unlikely the FTSE would have power to make a sustainable break above 6105 given the extended rise we have seen already. Wave 5 is likely to end either today or on Monday. From here expect a decline to 5850.
No Magnet trade today
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