FTSE

While the US is rattling us with new highs European markets like the FTSE which appeared o have made big 5 wave declines from the May top have retraced 61.8% in what looks like an a-b-c so far. Their behavior here will be an interesting watch. A topping pattern might start forming, our typical triangle. Their under-performance from here on will be an important inter market divergence for taking a world markets call.