#FTSE #WallSt We’d gullibly thought the US election would provide an end to the daily amusement from across the water but it’s proving a gift which keeps giving. We suspect the lessons from this should be closely followed by the UK with many media organisations rethinking their behaviour and stance, when they see how influential they were not. With newspapers and TV stations already reporting reader and viewer numbers at record lows, perhaps it is already the time the UK media addressed their often erroneous behaviour, slavishly following whatever government position is being taken. A recent example was calling folk who were against illegal immigration as “far right” but gradually they appear to be dropping such a rabble rousing term.
With Mr Trump now provoking daily outrage by nominating inflammatory names to work in his government next year, the invective coming from various Hollywood and Washington names has been funny, blithely representing their inability to respect democracy, the very thing they were accusing Mr Trump of.
One puzzle is swimming against the tide of expectations as Crude Oil prices still have not reversed. With the incoming President promising a 50% reduction in energy costs, based on his intention to “drill drill drill” to return the country to self sufficiency in oil and gas, we’ve been expecting the price to exhibit some panic but so far, Brent Crude has remained stable. Unless Brent Crude somehow exceeds $81.50 anytime soon, it remains at risk of sharp and sudden reversals to an eventual $58, or so.
The FTSE has been enjoying a vaguely similar period of illogical strength to that being experienced by Brent as our calculations point to reversal to the 7604 point level. Rather spoiling the scenario is the obvious fact the FTSE is currently pretending the 8000 point level is inviolate. We has doubts, expecting the markets only need the right excuse to provoke trouble.
Currently trading around 8071 points, the FTSE needs below 8030 points to give the earliest sign for trouble Such a movement (though not with a spike down at the market open) risks pushing reversal down to an initial 7939 points with our secondary, if broken, at 7874 points. Such a drop level becomes extremely dangerous, making an eventual 7803 a possibility on this cycle. If triggered, the tightest stop loss level looks like 8067 points which seems extremely sane.
Should things intend go right for the UK market, above 8097 points should trigger movement to an initial 8133 points. Should such a level be exceeded, our secondary is quite surprising at an impressive 8257 points.
On the bright side, only another week for another GP race. Spoiling things, news the Monaco contract has been extended for another 7 dreary and boring years of a procession of cars.
Have a good weekend.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:16:21PM | BRENT | 7222.2 | 7173 | 7151 | 7252 | 7317 | 7347 | 7233 | |||
| 10:19:48PM | GOLD | 2564.09 | 2537 | 2511 | 2582 | 2578 | 2591 | 2560 | |||
| 10:22:00PM | FTSE | 8054.8 | 8002 | 7974 | 8038 | 8085 | 8099 | 8047 | ‘cess | ||
| 10:26:54PM | STOX50 | 4808.8 | 4728 | 4684 | 4758 | 4838 | 4851 | 4814 | Success | ||
| 10:31:18PM | GERMANY | 19213 | 18935 | 18776 | 19022 | 19308 | 19426 | 19219 | Success | ||
| 10:35:36PM | US500 | 5948 | 5938 | 5930 | 5970 | 5973 | 5986 | 5953 | ‘cess | ||
| 10:38:30PM | DOW | 43748 | 43683 | 43587 | 43894 | 44128 | 44290 | 43986 | ‘cess | ||
| 10:41:29PM | NASDAQ | 20871.1 | 20843 | 20818 | 20962 | 21032 | 21070 | 20911 | |||
| 10:44:09PM | JAPAN | 38887 | 38504 | 38308 | 38781 | 39050 | 39308 | 38885 |
14/11/2024 FTSE Closed at 8071 points. Change of 0.51%. Total value traded through LSE was: £ 5,134,648,719 a change of -9.92%
13/11/2024 FTSE Closed at 8030 points. Change of 0.06%. Total value traded through LSE was: £ 5,699,909,508 a change of -5.55%
12/11/2024 FTSE Closed at 8025 points. Change of -1.23%. Total value traded through LSE was: £ 6,035,103,629 a change of 29.75%
11/11/2024 FTSE Closed at 8125 points. Change of 0.66%. Total value traded through LSE was: £ 4,651,326,032 a change of -15.42%
8/11/2024 FTSE Closed at 8072 points. Change of -0.84%. Total value traded through LSE was: £ 5,499,106,289 a change of -11.31%
7/11/2024 FTSE Closed at 8140 points. Change of -0.32%. Total value traded through LSE was: £ 6,200,390,802 a change of -20.9%
6/11/2024 FTSE Closed at 8166 points. Change of -0.07%. Total value traded through LSE was: £ 7,838,528,249 a change of 73.08% 
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:CCL Carnival** **LSE:ITM ITM Power** **LSE:MMAG Music Magpie** **LSE:OPG OPG Power Ventures** **LSE:SBRY Sainsbury** **LSE:SMT Scottish Mortgage Investment Trust** **LSE:TW. Taylor Wimpey** **
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Updated charts published on : Carnival, ITM Power, Music Magpie, OPG Power Ventures, Sainsbury, Scottish Mortgage Investment Trust, Taylor Wimpey,
LSE:CCL Carnival. Close Mid-Price: 1754 Percentage Change: + 0.92% Day High: 1763 Day Low: 1727.5
Target met. In the event of Carnival enjoying further trades beyond 1763, ……..
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View Previous Carnival & Big Picture ***
LSE:ITM ITM Power Close Mid-Price: 35.26 Percentage Change: -6.52% Day High: 39 Day Low: 35
Target met. Weakness on ITM Power below 35 will invariably lead to 31p wi ……..
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View Previous ITM Power & Big Picture ***
LSE:MMAG Music Magpie. Close Mid-Price: 8.8 Percentage Change: + 0.00% Day High: 8.9 Day Low: 8.8
In the event of Music Magpie enjoying further trades beyond 8.9, the shar ……..
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View Previous Music Magpie & Big Picture ***
LSE:OPG OPG Power Ventures Close Mid-Price: 9 Percentage Change: -2.39% Day High: 9.43 Day Low: 9.05
Target met. If OPG Power Ventures experiences continued weakness below 9. ……..
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View Previous OPG Power Ventures & Big Picture ***
LSE:SBRY Sainsbury Close Mid-Price: 239.6 Percentage Change: -1.48% Day High: 241.2 Day Low: 237.8
Target met. Continued weakness against SBRY taking the price below 237.8 ……..
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View Previous Sainsbury & Big Picture ***
LSE:SMT Scottish Mortgage Investment Trust. Close Mid-Price: 942 Percentage Change: + 0.11% Day High: 945.2 Day Low: 935.4
Target met. All Scottish Mortgage Investment Trust needs are mid-price tr ……..
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View Previous Scottish Mortgage Investment Trust & Big Picture ***
LSE:TW. Taylor Wimpey. Close Mid-Price: 131.95 Percentage Change: + 0.38% Day High: 132.25 Day Low: 129.95
If Taylor Wimpey experiences continued weakness below 129.95, it will inv ……..
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View Previous Taylor Wimpey & Big Picture ***