#DAX #Gold The ‘damage’ enacted by Trumps presidency continues to wreak havoc on US markets with the S&P now stronger than ever before. So are the DOW and Nasdaq! It makes a painful contrast with the UK’s “strong & stable” rhetoric while the FTSE struggles to reach any realistic growth levels. Maybe we need build yet another wall to keep Scots out, because some ideas work in unexpected ways…
The S&P now needs better 3003 to enter a cycle toward 3027 points next, perhaps even 3046 points thanks to all the opening movement gaps. Longer term, the index now looks capable of 3163 as the next major point of interest. The market needs fall below 2875 to indicate the rising phase is starting to fail.
As for the FTSE and Friday, as mentioned earlier, the index continues to behave poorly and weakness now below 7500 looks capable of a near term 7473 points. If broken, secondary is at 7424 points and we’d hope for a rebound at such a level. If triggered, the tightest visual stop is at 7532 points but realistically, we’d prefer 7560 as this one appears too much like a free gift.
The converse situation, what happens if the index betters 7532 is pretty straightforward. Initially we’d look for some recovery to 7558 points. Secondary, if bettered, calculates at 7598 points.
We’re not oozing optimism, given the UK market managed to close below its immediate uptrend. Equally, if we applied similar acceleration force to those experienced in the USA, the UK should be trading around 7750 at present.
Hopefully this weekends British Grand Prix gives the UK markets a boost for next week. (clue: no chance)
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
10:38:37PM |
BRENT |
66.7 |
66.28 |
66.13 |
67.51 |
68.755 |
‘cess | ||||
|
10:41:03PM |
GOLD |
1404.49 |
1400 |
1391 |
1427 |
1431.5 |
‘cess | ||||
|
10:43:05PM |
FTSE |
7532.72 |
7500 |
7489.5 |
7560 |
7582 |
‘cess | ||||
|
10:46:42PM |
FRANCE |
5556 |
5548 |
5531 |
5594 |
5606.5 |
Shambles | ||||
|
10:48:52PM |
GERMANY |
12345 |
12304 |
12232 |
12436 |
12458 |
‘cess | ||||
|
10:51:29PM |
US500 |
3000.22 |
2988 |
2982.5 |
3004 |
3009.5 | |||||
|
10:53:29PM |
DOW |
27082.3 |
26883 |
26814.5 |
27098 |
27149 |
Success | ||||
|
10:56:45PM |
NASDAQ |
7896.12 |
7871 |
7848 |
7939 |
7956 | |||||
|
10:58:13PM |
JAPAN |
21620 |
21522 |
21499 |
21643 |
21716.5 |