No real change on yesterdays analysis and we are still concentrating on the wave 4 pattern.
I mentioned yesterday, 5381 would serve as a good top for wave 4 to have completed and as long as the market does not penetrate this level during official hours (8am-4.30pm) this remains the case. Technically this wave pattern can still rise to 5500 and still be valid but I will question the validity if we penetrate 5381 to the upside.
We have a large dividend today on the FTSE standing at 9.5 points.
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