The FTSE is trading sideways for now between 5265 and 5381.
5381 remains a top in this market from our discussions on Monday and keeps the 5th wave analysis for a decline to 4600 in tact. At this stage for the further downside to be seen we really need to see the market break below 5265 today. If we hold this level again today and rise again then further immediate downside is compromised and we could see the market break above 5381.
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