#FTSE #GOLD The UK Government, always a market leader in impoverishing its citizens, spent the last week announcing what was effectively the grand total of zero help. First, we had the unedifying sight of the Prime Minister announcing people would experience savings of 5p per litre on fuel. The truth was the exact opposite, the government would not be charging their extra 5p for fuel tax (duty). It was the equivalent of the bloke announcing the average household would be £5,000 better off as he’d decided not to increase income tax. Absolutely no-one would be better off and the much vaunted VAT reduction to 5% on certain restrictive items would lead to around £10 annually saved per UK household, this figure released (between bouts of laughter and giggles) by the left leaning Institute for Fiscal Studies. The UK Government appear to be missing the point, people want to eat regularly, heat and light their homes, and travel to work, yet no effort is being made to address the core issues.
There is one aspect of the governmental effort worth remembering. By cutting VAT to 5% against a pathetic range of children’s charges, it has been finally conceded the 20% VAT rate is no longer sacrosanct and can be further addressed in the future. If politicians decide to do anything useful to assist with the cost of ‘existing’ in the UK.
Obviously, our primary concern is the cost of ingredients for making wine and using 1kg sugar as a benchmark, the cost varies between the main supermarkets by an astounding 40%. It’s useful to note Sainsbury are cheapest at 89p/kg for granulated sugar as opposed to a high at 135p/kg from another retailer who was 100p/kg just a week ago. To explain, usually purchasing 60kg (4 x 15 bag outers) at the start of the fermentation season means the core ingredient is taken care of, just needing grape concentrate from various regions of Europe, along with various odds and ends, ensures the process can commence, our two 30 litre primary fermentation drums hopefully kept busy. There would be no point in creating a fermentation shed, if it wasn’t kept busy. But to be fair, it’s highly probable nothing shall be produced in 2027 or 2028 as our wine racks will be utterly full. That is, always assuming we can replicate last years Rioja, Merlot, Pinot Gris, and Chardonay. Though this year, we are trying something different in a never ending attempt to reach the holy grail quality of Chateauneuf Du Pape, trying a repeat fermentation of particular Grenache concentrate. Our suspicion is the journey toward a wine which retails at 40 quid+ for a decent bottle shall not be a cheap trip, conventional methodology being ditched in favour of the unorthodox. But heck, with this hobby, it’s the journey which matters, perhaps more than the final product.
On a brighter note, it’s the Canadian Grand Prix this weekend, usually a reliable shambles of a race with lots of rumours already available promising a fall-out between F1 drivers and the body who keep getting the rules very wrong.
As for the FTSE, the index has been driving us insane, refusing to behave with any degree of logic and the USA/Iran thing being blamed for everything. It’s almost as if President Trump’s attempt to shake up the world economy with tariffs failed, so he’s applied a completely different technique to screw everything up and provoke a “restart” where Covid-19 failed, where Ukraine failed, where Tariffs failed, and its possible the “Straits” thing will also fail. Perhaps the world simply shall cheerfully slide back into the rut it’s been stuck in, producing lacklustre politicians and lacklustre economies, all of whom were happy to function in the stability of stagnation. Who knows, it’s a theory and perhaps a warning of the dangers of reading essays on current economics. Sometimes, they start to make an awful lot of sense, unfortunate if one examines international posturing before WW1 and then, before WW2…
Heading into a holiday weekend, the FTSE is currently wearing a happy hat. Apparently, above 10,472 points should produce a lunge to an initial 10,501 points and a challenge of the immediate Blue downtrend. Our secondary, should this initial be exceeded, works out at a relatively useful 10,572 points. If triggered, the tightest stop looks like an amazing 10,470 points. Common sense suggests wider, preferably around 10,360 points.
As usual, we can present a converse scenario as below 10,360 points risks triggering reversal to an initial 10,300 points with our secondary, if broken, a very possible bounce point at 10,216 points.
Have a good weekend. We’ll be back on Tuesday as usual.
FUTURES
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 11:02:25PM | BRENT | 10080 | 9984 | 9830 | 9454 | 10160 | 10546 | 10643 | 10912 | 10272 | ‘cess |
| 11:04:51PM | GOLD | 4545.1 | 4488 | 4468 | 4434 | 4522 | 4570 | 4590 | 4636 | 4533 | |
| 11:07:50PM | FTSE | 10505.2 | 10348 | 10299 | 10224 | 10404 | 10513 | 10530 | 10670 | 10442 | Success |
| 11:13:25PM | STOX50 | 6025 | 5922 | 5880 | 5826 | 6000 | 6042 | 6051 | 6131 | 5955 | |
| 11:16:14PM | GERMANY | 24870.9 | 24534 | 24397 | 24222 | 24720 | 24880 | 24920 | 25348 | 24628 | ‘cess |
| 11:19:18PM | US500 | 7457.9 | 7389 | 7364 | 7331 | 7424 | 7466 | 7478 | 7525 | 7427 | ‘cess |
| 11:39:14PM | DOW | 50347.2 | 49700 | 49559 | 49284 | 50004 | 50378 | 50580 | 51083 | 50148 | Success |
| 11:42:21PM | NASDAQ | 29415.1 | 29034 | 28918 | 28738 | 29250 | 29462 | 29679 | 30048 | 29172 | ‘cess |
| 11:44:56PM | JAPAN | 62156 | 60974 | 60533 | 59938 | 61513 | 62318 | 62696 | 63836 | 61940 | ‘cess |
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:CPI Capita** **LSE:GRG Greggs** **LSE:IGG IG Group** **LSE:SMT Scottish Mortgage Investment Trust** **LSE:STAN Standard Chartered** **LSE:TSCO Tesco** **
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Updated charts published on : Capita, Greggs, IG Group, Scottish Mortgage Investment Trust, Standard Chartered,
LSE:CPI Capita. Close Mid-Price: 370.5 Percentage Change: + 0.00% Day High: 0 Day Low: 0
All Capita needs are mid-price trades ABOVE 377 to improve acceleration t ……..
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View Previous Capita & Big Picture ***
LSE:GRG Greggs. Close Mid-Price: 1728 Percentage Change: + 0.00% Day High: 0 Day Low: 0
All Greggs needs are mid-price trades ABOVE 1728 to improve acceleration ……..
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View Previous Greggs & Big Picture ***
LSE:IGG IG Group. Close Mid-Price: 1837 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Target met. In the event of IG Group enjoying further trades beyond 1880p ……..
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View Previous IG Group & Big Picture ***
LSE:SMT Scottish Mortgage Investment Trust. Close Mid-Price: 1470 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Target met. Continued trades against SMT with a mid-price ABOVE 1502 shou ……..
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View Previous Scottish Mortgage Investment Trust & Big Picture ***
LSE:STAN Standard Chartered. Close Mid-Price: 1936.5 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Target met. All Standard Chartered needs are mid-price trades ABOVE 1954. ……..
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View Previous Standard Chartered & Big Picture ***
LSE:TSCO Tesco. Close Mid-Price: 464.7 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Below 442 now threatens reversal to an initial 411p with our secondary, if ……..
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View Previous Tesco & Big Picture ***