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Elliott: Don't be fooled by the October rally

Technical analysis suggests a big correction could be coming in global equities. Renowned tehcnical analyst, Nicolle Elliott, says the gains we saw in October are little more than a corrective bounce and she's concerned that traders are being lulled into a false sense of security.

The patterns she's seeing in the charts are mirrored in both developed and emerging markets. Like the FTSE, India's Sensex, for instance, has also only retraced half of this year's territory. Indicies in the United States appear to be an exception but Nicole believes the rally in the S&P 500 is over-done.

03:03 minutes
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