My FTSE Peak Signal Did Not Complete

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My FTSE peak signal did not complete

Well surprise, surprise, I lost my bet! The FTSE peak signal pattern that I saw forming did not complete (by returning to the 20 day moving average) and, instead the index continued down. This is quite unusual and so I am not too disheartened as it was a reasonable bet to make. The market really seems to have got its knickers in a twist over the falling oil price; it is seen as a sign of a slowing economy which is bad for shares, but it could be interpreted the other way - reduced costs for industry and consumers should stimulate demand. So, hopefully, this will just be a short-term panic, though the FTSE could still have further to drop. I wouldn't be surprised to see my prediction of a 15%+ decline come true, albeit slightly sooner than I expected!