The FTSE 100 is leading the way

<p><a href="https://www.bettertrader.co.uk/.a/6a0162ff9ddd58970d0282e10ecc68200b-pi"><img alt="UKX210708b" border="0" src="https://www.bettertrader.co.uk/.a/6a0162ff9ddd58970d0282e10ecc68200b-800wi" title="UKX210708b" /></a></p>
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<p>Two weeks ago I said the FTSE 100 would go down/ sideways, as you can see on the chart my analysis was correct. The FTSE did not follow the US markets higher, in fact the FTSE 100 and the S&amp;P 500 are diverging.</p>
<p>The FTSE is leading the way, it tells us the S&amp;P will turn down too. Right now I can&#039;t be sure the S&amp;P has turned down, it is possible the US index is in a fourth wave down, this will be confirmed later. A rally to 4400 in the S&amp;P is still possible but the fact that the FTSE is going down is not good news.</p>