If FTSE closes above 5.552 on May 31 the monthly trend will still be sideways. However I now see this possibility as highly unlikely so I hereby declare FTSE to be the first major index to enter a new Bear Market that will last for at least 8 months. My target for this Bear market is firstly 4.788 and finally 3.500 which is a drop from today's level 5.300 of 34 percent.
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