FTSE 100 Index Wave Analysis

The article is a technical analysis note on the FTSE 100. It says the index reversed lower from a major resistance area near 10,950, which also coincides with the upper daily Bollinger Band and previously capped the February rally. The author argues the pullback ended the short-term upward impulse from early July and, given overbought stochastic conditions, expects further downside toward 10,750, identified as former April resistance and now support. The market implication is mildly bearish for UK equities in the near term, with traders watching whether the index can hold support or extend the correction from recent highs.