#FTSE #Gold It has been a crazy week but not with the FTSE. As usual, our gripe is about the Scottish weather and the fact our heating is on tonight. Worse, judging by the rainfall levels, it sounds like the usual August monsoon in Argyll may have arrived early. It was certainly a surprise, doing a dog walk wearing a winter wax cotton jacket, waterproof boots, and gloves. But it was also amusing, bumping into tourists who’d clearly packed for summer. Often, our summer months are May & June, then everything becomes as random as politicians utterances.
As for the FTSE, we’ve had a suspicion the UK market was going to be “parked” until the horror of an election is over, perhaps between 8200 points and 8400 points. Recent movements tend suggest this may no longer be the case and even Taylor Swift is being lined up to take the blame. The story goes, the Bank of England are not convinced inflation shall fall by the required level, thus allowing them to justify keeping the country crippled by high interest rates. The logic follows a theory price gouging of “Swifties” by hotels and stores across various cities on her sell out “Eras” tour will provoke an artificial inflationary rise, due to the trades maximising on the spending power of her fan base. Maybe they’ve even got a point as we briefly contemplated buying our grand-daughters tickets for the Edinburgh event, deciding a swift nope was justified.
While we remain comfortable with a belief the UK index shall be restrained in a holding pattern, it starts to feel like between 8100 and 8300 shall become the bandwidth, rather than our proposed slightly higher figures. The immediate situation is fairly interesting, suggesting weakness below 8178 points risks triggering reversal to a useless 8166 next with secondary, if broken, down at 8120 points along with a possible bounce. Should this prove to be the case, anyone attempting to catch a bounce can probably emplace a stop loss at just 8098 points, due to our 3rd level drop target working out at a blank space of 8072 points, an ambition which fails to make any visual sense..
Conversely, this “silly season” Taylor Swift story may just be another aspect of the efforts of her tremendously effective PR machine, doing everything they can to ensure their principals name remains in the news on a daily basis. Should this be the case, above just 8240 has the potential of kicking off movement to an initial 8288 points with our secondary, if bettered, working out at a less likely 8320 points, less likely because the index shall be seen to shake it off our suspected trading trap until the election. But above 8320 will hint the market intends a love story with our 3rd level of 8367 points and some hesitation.
Due to running out of titles of Taylor Swift tunes to weave into the report, that’s it! Have a good weekend and hopefully this Grand Prix proves as good as last weekends was.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:49:41PM | BRENT | 8530.9 | 8467 | 8444 | 8540 | 8556 | 8624 | 8466 | |||
| 9:52:05PM | GOLD | 2327 | 2294 | 2281 | 2305 | 2332 | 2335 | 2323 | ‘cess | ||
| 9:58:27PM | FTSE | 8186.4 | 8168 | 8158 | 8200 | 8240 | 8252 | 8209 | ‘cess | ||
| 10:01:32PM | STOX50 | 4909.2 | 4896 | 4881 | 4911 | 4935 | 4946 | 4913 | Shambles | ||
| 10:34:38PM | GERMANY | 18239 | 18141 | 18090 | 18217 | 18267 | 18288 | 18193 | ‘cess | ||
| 10:37:25PM | US500 | 5486.5 | 5463 | 5458 | 5478 | 5491 | 5497 | 5478 | |||
| 10:40:38PM | DOW | 39135.5 | 38913 | 38821 | 39084 | 39254 | 39294 | 39139 | |||
| 10:43:02PM | NASDAQ | 19809.3 | 19617 | 19527 | 19685 | 19859 | 19904 | 19733 | |||
| 10:45:36PM | JAPAN | 39571 | 39191 | 38999 | 39353 | 39667 | 39707 | 39473 |
27/06/2024 FTSE Closed at 8179 points. Change of -0.56%. Total value traded through LSE was: £ 5,037,946,434 a change of -10.36%
26/06/2024 FTSE Closed at 8225 points. Change of -0.27%. Total value traded through LSE was: £ 5,620,185,904 a change of 8.13%
25/06/2024 FTSE Closed at 8247 points. Change of -0.41%. Total value traded through LSE was: £ 5,197,523,885 a change of -1.46%
24/06/2024 FTSE Closed at 8281 points. Change of 0.53%. Total value traded through LSE was: £ 5,274,668,036 a change of -64.96%
23/06/2024 FTSE Closed at 8237 points. Change of -0.42%. Total value traded through LSE was: £ 15,052,828,026 a change of 169.21%
20/06/2024 FTSE Closed at 8272 points. Change of 0.82%. Total value traded through LSE was: £ 5,591,583,637 a change of 26.19%
19/06/2024 FTSE Closed at 8205 points. Change of 0.17%. Total value traded through LSE was: £ 4,431,021,762 a change of -14.42% 
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:BME B & M** **LSE:CCL Carnival** **LSE:DGE Diageo** **LSE:IAG British Airways** **LSE:JET Just Eat** **LSE:OCDO Ocado Plc** **LSE:OPG OPG Power Ventures** **
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Updated charts published on : Avacta, B & M, Carnival, Diageo, British Airways, Just Eat, Ocado Plc, OPG Power Ventures,
LSE:AVCT Avacta. Close Mid-Price: 52 Percentage Change: + 15.56% Day High: 52.5 Day Low: 44.7
Target met. In the event of Avacta enjoying further trades beyond 52.5, t ……..
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View Previous Avacta & Big Picture ***
LSE:BME B & M Close Mid-Price: 445 Percentage Change: -1.70% Day High: 448 Day Low: 441.6
Target met. Weakness on B & M below 441.6 will invariably lead to 439p wi ……..
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View Previous B & M & Big Picture ***
LSE:CCL Carnival. Close Mid-Price: 1325 Percentage Change: + 0.95% Day High: 1340 Day Low: 1302.5
Continued trades against CCL with a mid-price ABOVE 1340 should improve t ……..
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View Previous Carnival & Big Picture ***
LSE:DGE Diageo Close Mid-Price: 2500 Percentage Change: -2.08% Day High: 2557.5 Day Low: 2501
Target met. Continued weakness against DGE taking the price below 2501 ca ……..
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View Previous Diageo & Big Picture ***
LSE:IAG British Airways Close Mid-Price: 160.9 Percentage Change: -1.80% Day High: 165.55 Day Low: 161.1
If British Airways experiences continued weakness below 161.1, it will i ……..
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View Previous British Airways & Big Picture ***
LSE:JET Just Eat Close Mid-Price: 972 Percentage Change: -0.82% Day High: 982 Day Low: 963
Weakness on Just Eat below 963 will invariably lead to 956p next with sec ……..
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View Previous Just Eat & Big Picture ***
LSE:OCDO Ocado Plc. Close Mid-Price: 286.9 Percentage Change: + 2.10% Day High: 289.5 Day Low: 278.2
In the event Ocado Plc experiences weakness below 278.2 it calculates wit ……..
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View Previous Ocado Plc & Big Picture ***
LSE:OPG OPG Power Ventures. Close Mid-Price: 10.12 Percentage Change: + 1.25% Day High: 10.12 Day Low: 10
If OPG Power Ventures experiences continued weakness below 10, it will in ……..
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View Previous OPG Power Ventures & Big Picture ***