just reading the thread today, page-112

Yes agreed and the more I look, the more we seem at a very important crossroad right about now.

When I was watching the rally back in May I had thought that it was doing battle with the 1/4 of the major range (1576.09 - 666.79) level and then in the last week of May and on the 1st June it popped above it with some conviction and then I thought, "Okay, that may be the end of the major bear trend for a decent spell if it can hold above that mark".

1/4 of the major range is 894.12.

23.6% of the major range is 881.38.

Index current price 879.13.

I'm feeling confident that Friday's holding above Wednesday's low and closing above the 15 May low is presenting a bullish picture for the coming week or so.

A close above 881.38 could be bullish early next week although I'm also mindful that there may be temporary support until 135 days from low next Sunday (Monday week).

So if a test of the 11 June high is on the cards any time soon the move should start this week I would think.

I noticed McLaren in his weekly report on the XAO tonight stated that IF that low last week is proved as a "false break" low the rally could "be fast". It’s worth a read. I'm looking forward to see what he has to say on the US market tomorrow.

Okay, cheerio,

Chris.