FTSE 100 - Short Seller's Gift

A few days ago I posted on the FTSE 100. I mentioned at that time the (now clear) Bear Flag formation in blue.

We've broken out of that Flag for a few days now and have been in a sideways horizontal channel so far.

I can only see this as gift for anyone who hadn't already been short.

There's a potential 15% downside retracement that I've penciled in: by calculating the vertical height at the start of the Flag formation - and using that distance from the breakout point.

Any contrary views I'm happy to hear.

Adrian