FTSE Outlook for 29th Dec 2008

The markets open on Monday.  What can I expect from FTSE?  Looking at the chart on the left, I see price following the red diagonal line downwards.  That pretty much convinces me that FTSE is likely to visit the nearest support level of 4019 which incidentally is a 180 degree move on the Square of Nine.  

Do I expect 4019 to be hit on Monday?  No.  I think it will take a few days.  Interestingly, the trading range we saw on Friday was the narrowest of the last seven days.  The possibility is that a breakout (in whatever direction) will lead to a large move on Monday.  I will be waiting for initial signs for direction and ready with my finger on the trigger!