FTSE - Topping action

(Click at the pictures to enlarge)

The UK FTSE 100 is showing signs of topping.

The [B] wave top might very well have been set on October 20 at 5,298.54 and a break below support at 5,176.82 and more importantly 5,154.15 would be the first indications that an important top is in place. To confim the top we do need a break below 4,944.16.

Looking at the internal relationships they to point towards a possible top.

At 5,162.71 the second zig-zag was equal to the first zig-zag and to a smaller degree in the second zig-zag wave c was equal to wave a at 5,291.58, which was as perfect a hit that one could expect.

Again a top in the FTSE 100 at this point would fit nicely in my view that a top in DJI might have been set.