This was that other, recent, coincidence. Whatever. In the mean time the London stock index retraced about 76% ( all retracements over the past 4/5 years have been unusually large), but unlike with the DOW , no new highs were made. That being the case we will now assume that we are in the initial stages of a wave 3. As wave 1 was about 900 index points , wave 3 could take the index down by 1.62X that or even 2,6X. (1440 or 2340 point). If any of this happens we will be halfway there. See Bloomberg chart below.
