Charting the markets: FTSE heading to 6,000

Technical analyst Nicole Elliott says we are in for a long bear market for the FTSE 100 and is targeting 6,000 over the next couple of months.  

She also has a very bearish view on the DAX and is looking for a combination of a death cross and weekly close below 10,800.  When it comes to the S&P 500 she says it has been a ‘disappointing year’ reflecting the anaemic economic recovery. Nicole is using the Dow theory to confirm her view that the S&P 500 is about to ‘give up the ghost’.

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