[isatrader]

Isatrader, what is your distinction between FIF and JIL above to classify one in a stage 1 and another in a stage 2 continuation?

They both look very similar.

Both made a Stage 4A breakdown earlier in the year and subsequently recovered back into Stage 1 in the summer, but JIL.L has showed better relative performance and made a fresh Stage 2A breakout at the end of September above the swing high that had formed above the again rising 30 week MA, whereas FIF.L has not yet made a fresh breakout above it's swing high that formed above the 30 week MA, and hence has yet to move back into Stage 2A.

So JIL.L is in early Stage 2 again imo, and has the chance to move to new highs and hence a possible continuation, whereas FIF.L still hasn't moved back into Stage 2A yet.