#Brent #DAX #FTSE There’s something almost horrific about the words “Underlying Health Condition”. Even at this early stage, the media opt to slide the term in, following news of a Covid-19 death, obviously sending the comforting message – ‘you’ll be okay’ to the rest of the populace. Have gone through chemo in 2019, this writer enjoys an “underlying health condition” thus, is concerned. A lingering cold since Xmas gives a reminder of the strength – or otherwise – of the immune system.
We’re going to focus on the FTSE daily while this volatility remains as it certainly has an underlying health condition. Our report on Friday proved pretty concise, the market opting to march up to the top of a hill, then march all the way down again. It closed the day at 5323 points.
Weakness now below 5237 should anticipate reversal down to an initial 5136 points. If broken, secondary now calculates down at 4948 points. This is obviously pretty dangerous, tending confirm the risk of longer term reversal down to the 3,000’s. Unfortunately, the tightest visual stop loss level in this scenario is absurdly wide at 5404 points.
Above 5404 is supposed to generate a lift to 5444 points. If exceeded, secondary is at 5503 points. We have our doubts.
Finally, always remember we are discussing The FTSE during trading hours, not FTSE After Hours Futures.
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
7:04:06PM |
BRENT |
35.32 |
33.33 |
31.905 |
25 |
35.3 |
36.7 |
39.135 |
41.15 |
33.7 | |
7:06:38PM |
GOLD |
1530.66 |
‘cess | ||||||||
7:08:27PM |
FTSE |
5664 |
‘cess | ||||||||
8:18:52PM |
FRANCE |
4304 |
Success | ||||||||
8:25:31PM |
GERMANY |
9620.5 |
9050 |
8611 |
6987 |
9675 |
9732 |
9983 |
10294 |
9340 |
Success |
8:52:09PM |
US500 |
2669.2 |
Success | ||||||||
9:06:49PM |
DOW |
22860 |
Success | ||||||||
9:11:25PM |
NASDAQ |
7829 |
Success | ||||||||
9:38:40PM |
JAPAN |
17973 |
Success |