It’s obviously our imagination but this year, the final full day of trading has come around incredibly fast. As always, we respect Scotlands holidays and shall return on Wednesday 3rd January. This country has a history of “odd” holidays as Christmas wasn’t an official holiday until 1958, due to parsimonious religious reasons. But New Year always allowed for two days of drinking time by way of apology. When Christmas day was declared an official holiday, no-one had the courage to tighten the New Year regulations, a situation which thankfully remains.
Wednesday saw the FTSE spend most of the day pretending to do anything, a bit similar to those folk returning to work during the festive break. When the UK index managed spend 5.5 hours from 9am, messing around within a 20 point range, we did tend to lose interest as it was clear volumes were going to be minimal and any hope for fireworks would be misplaced. However, there was a bit of a change at 20 past 3 in the afternoon as the FTSE shouldn’t really have dribbled below 7722 points.
Unfortunately, this sort of movement has created a situation where reversal again below 7722 points risks triggering a visit down to an initial 7685 points with our secondary, if broken, calculating down at 7652 points and hopefully a rebound. In the event such a level breaks, there becomes a very real risk of the UK market opting to end 2023 around the visually unlikely 7576 points point! If the initial movement triggers, the tightest stop loss level looks like 7752 points.
However, there are early signs suggesting the potential for some optimism, thanks to the London market almost achieving a series of higher highs. It results in a situation, where we may speculate on a scenario where above 7764 points should now trigger gains toward an initial 7869 points with secondary, if beaten, now working out at 8066 points. With the best will in the world, we find it difficult to express any real hope for a visit to a new all time high above 8000 points.
Have a good New Year break and ‘lang may yer lum reek’. (A Scottish drinking toast meaning; “Long may smoke come out of your chimney and thus, letting everyone know you’re still alive”)
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop |
| 9:58:56PM | BRENT | 7925 | 7920 | 7880 | 7792 | 7992 | 7903 | 8236 | 8568 | 7834 |
| 10:01:31PM | GOLD | 2077.25 | 2062 | 2055 | 2045 | 2072 | 2085 | 2118 | 2166 | 2065 |
| 10:03:35PM | FTSE | 7724.1 | 7709 | 7692 | 7668 | 7739 | 7764 | 7783 | 7808 | 7726 |
| 10:05:33PM | STOX50 | 4535.5 | 4521 | 4512 | 4498 | 4545 | 4554 | 4569 | 4595 | 4534 |
| 10:08:39PM | GERMANY | 16755.3 | 16725 | 16692 | 16652 | 16757 | 16802 | 16828 | 16868 | 16735 |
| 10:10:45PM | US500 | 4786 | 4768 | 4764 | 4756 | 4780 | 4788 | 4820 | 4863 | 4758 |
| 10:13:26PM | DOW | 37662 | 37493 | 37455 | 37376 | 37580 | 37692 | 37747 | 37987 | 37594 |
| 10:16:18PM | NASDAQ | 16928.5 | 16852 | 16840 | 16809 | 16900 | 16933 | 16963 | 17100 | 16852 |
| 10:18:18PM | JAPAN | 33509 | 33454 | 33377 | 33242 | 33565 | 33782 | 33964 | 34260 | 33570 |
27/12/2023 FTSE Closed at 7724 points. Change of 0.35%. Total value traded through LSE was: £ 3,580,231,157 a change of 59.88%
22/12/2023 FTSE Closed at 7697 points. Change of 0.04%. Total value traded through LSE was: £ 2,239,365,244 a change of -44.7%
21/12/2023 FTSE Closed at 7694 points. Change of -0.27%. Total value traded through LSE was: £ 4,049,214,798 a change of -30.21%
20/12/2023 FTSE Closed at 7715 points. Change of 1.01%. Total value traded through LSE was: £ 5,802,090,818 a change of -19.89%
19/12/2023 FTSE Closed at 7638 points. Change of 0.32%. Total value traded through LSE was: £ 7,242,394,350 a change of 68.88%
18/12/2023 FTSE Closed at 7614 points. Change of -100%. Total value traded through LSE was: £ 4,288,360,200 a change of 0%
15/12/2023 FTSE Closed at 7576 points. Change of 0%. Total value traded through LSE was: £ 11,949,408,359 a change of 0%
SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.
Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION
Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.
UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.
We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…
Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares
Click Epic to jump to share: LSE:AVCT Avacta** **LSE:BARC Barclays** **LSE:EME Empyrean** **LSE:GRG Greggs** **LSE:MKS Marks and Spencer** **LSE:OXIG Oxford Instruments** **LSE:PMG Parkmead** **LSE:SPX Spirax** **LSE:TERN Tern Plc** **LSE:TLW Tullow** **
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Updated charts published on : Avacta, Barclays, Empyrean, Greggs, Marks and Spencer, Oxford Instruments, Parkmead, Spirax, Tern Plc, Tullow,
LSE:AVCT Avacta. Close Mid-Price: 112.5 Percentage Change: + 0.90% Day High: 113 Day Low: 108.5
Weakness on Avacta below 108.5 will invariably lead to 100p with secondar ……..
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View Previous Avacta & Big Picture ***
LSE:BARC Barclays. Close Mid-Price: 153.66 Percentage Change: + 1.24% Day High: 154.66 Day Low: 152.2
Target met. Continued trades against BARC with a mid-price ABOVE 154.66 s ……..
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View Previous Barclays & Big Picture ***
LSE:EME Empyrean. Close Mid-Price: 0.68 Percentage Change: + 13.22% Day High: 0.55 Day Low: 0.55
Continued weakness against EME taking the price below 0.55 calculates as ……..
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View Previous Empyrean & Big Picture ***
LSE:GRG Greggs. Close Mid-Price: 2636 Percentage Change: + 0.92% Day High: 2656 Day Low: 2622
Target met. Further movement against Greggs ABOVE 2656 should improve acc ……..
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View Previous Greggs & Big Picture ***
LSE:MKS Marks and Spencer. Close Mid-Price: 272.6 Percentage Change: + 0.22% Day High: 274.6 Day Low: 270.8
Target met. Continued trades against MKS with a mid-price ABOVE 274.6 sho ……..
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View Previous Marks and Spencer & Big Picture ***
LSE:OXIG Oxford Instruments. Close Mid-Price: 2350 Percentage Change: + 0.00% Day High: 2470 Day Low: 2320
Target met. Continued trades against OXIG with a mid-price ABOVE 2470 sho ……..
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View Previous Oxford Instruments & Big Picture ***
LSE:PMG Parkmead. Close Mid-Price: 19 Percentage Change: + 18.75% Day High: 19 Day Low: 16
Further movement against Parkmead ABOVE 19 should improve acceleration to ……..
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View Previous Parkmead & Big Picture ***
LSE:SPX Spirax. Close Mid-Price: 10535 Percentage Change: + 1.64% Day High: 10570 Day Low: 10430
All Spirax needs are mid-price trades ABOVE 10570 to improve acceleration ……..
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View Previous Spirax & Big Picture ***
LSE:TERN Tern Plc Close Mid-Price: 3.5 Percentage Change: -17.65% Day High: 4.25 Day Low: 3.25
Target met. In the event Tern Plc experiences weakness below 3.25p it cal ……..
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View Previous Tern Plc & Big Picture ***
LSE:TLW Tullow. Close Mid-Price: 38.54 Percentage Change: + 0.10% Day High: 39.1 Day Low: 37.38
All Tullow needs are mid-price trades ABOVE 39.1 to improve acceleration ……..
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View Previous Tullow & Big Picture ***