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FTSE 100 Poised To Sell Off

|Includes: iShares MSCI United Kingdom ETF (EWU)

Markets around the world have had a nice run lately including the FTSE100 but this pattern presents a risk. Using the EWU ETF as a proxy for the FTSE100 (they differ a bit but its close) the chart demonstrates the breakout from resistance on 1/2/13, the market retesting old resistance now support on 1/8/13 and the rally higher from there. If we look at the price action from 12/12/12 until now it forms a bearish rising wedge.

See the rest of the post and chart at FTSE 100 Poised To Sell Off