Where are we now

[vand]

Well hopefully everyone agrees that we are in a well established downtrend now.

Looking more closely at the canary in the coalmine - Nasdaq - we are now testing the 10,600 level for the 3rd time, and if we get a break below the recent low then it would be a very bad sign. This is also roughly around where the 38% fib retracement from the 2009 lows sit. A decisive fail here would probably open the door to a downside target to the 50% retracement, around IXIC @ 8850. I personally feel that is very likely he way things are going.

[GoSeigen]

'Triple Top Breakout' for the ISF.L proxy for FTSE 100 on 24-Dec-2021: https://stockcharts.com/freecharts/pnf.php?c=ISF.L,P

Hi Jon,

ISTR I was the one who suggested ISF.L as a proxy for the FTSE. In general I think this is correct but today I was playing around on stockcharts.com and vieweda long-term chart of ISF.L and as you can see it's pretty weird in that it shows ISF.L trending neatly higher over the past 20 years and nearly double its value from 2007.

This is quite obviously wrong and I can't work out what stockcharts.com are doing so would just caution not to use their version of ISF.L until the reason for the strange data is understood. I thought it might be an adjustment into $USD but I tried a correction and that didn't make sense either.

I'm actually quite wary of using stockcharts.com at all now I've seen that problem, at least until I can get to the bottom of what is causing it.


GS