FTSE 100 - the UK index of stocks was leading Europe on the way down and is doing so now on the way up as well. As shown below it is possible to mark the decline as a 5 waves down. And we are in a A-B-C up trend, and in wave C of that. Wave C up can go to near the 61.8% level and is today making a 3 day high as momentum gives a buy signal. So it has a lot of room on the up side before we can call it an end to wave C.