Preferred scenario; we should be in wave c minor of (y) Intermediate of [Y] Primary of D Cycle;
the first top target is the intersection of the price with the uptrendline of the triangular pattern, close to 16.400 area between August and September , then is likely a reversal and the start of a new bear market Cycle;
Alternate scenario; super bullish: we are in the Alt:(3) Intermediate of Alt: of Alt:I in the new SuperCycle Bull Market Alt:[V]
pr we could be in the final intermediate wave (z) of [Y] of D Cycle; it's very difficult set a target but above 9,000 will prevail the alternate scenario that consider the early stage of a new SuperCycle Bull Market Alt:[V], so we would be in the Alt:(3) of Alt: Alt:I Cycle.
London FTSE-100 appears in the early stage of an extension like wave (3) Intermediate or Alt:(5) of [C] Primary and has the rhythm to break the top at 6,950.
should be close to a top of minute degree, that is at the end of wave x minor of (b)/(x) Intermediate of [C]/[Y] Primary.
In a previous post I represented the potential bullish of Nikkei but frankly, I would have expected at least a sideways congestion to catch his breath (and enter in long position).
However I think that the SuperCycle bear market started in 1990 does not seem yet finished and this great bounce is only the completion of the wave B Cycle; the first doubt on this hypothesis is due to the break, this week, of long-term downtrendline (dashed red on weekly chart) , a classic sign of change of trend, but in this case this event has a value, say questionable, because the line only connects two tops.
Alternate count: if wave Alt:(b) was completed like a triangle pattern, we could be in the Alt:3 of 1 minor wave, so the bullish target is even higher.
Have a great weekend!