Still no bull market

<p>This summer I posted charts of the FTSE 100 in a resistance area, the latest decline is another indication there is strong resistance above 7200. Either the FTSE 100 will decline because the trend has turned down, or it will rally again in the range 7200-7300 (the resistance area). If it rallies in the range expect another sharp decline.</p>
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<p><a href="https://www.bettertrader.co.uk/.a/6a0162ff9ddd58970d0282e120fbc2200b-pi"><img alt="UKX210914a" border="0" src="https://www.bettertrader.co.uk/.a/6a0162ff9ddd58970d0282e120fbc2200b-800wi" title="UKX210914a" /></a></p>
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<p><strong>Negative influence</strong></p>
<p>Bearish sentiment (declining BTI)</p>
<p>A complete or near complete Elliott wave pattern</p>
<p>An overbought 34-day BTI</p>
<p>Slowing growth and rising inflation (stagflation)</p>
<p>Falling bond yields associated with weakness in the banking sector and weak growth</p>
<p>Fed looking to withdraw stimulus.</p>
<p>Extreme valuations</p>
<p><br>Do you see any positive influence? May be buy the dip is still the best strategy but time is running out. Subscribe to my analysis and I will keep you updated</p>
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