#FTSE #Nasdaq As we brace ourselves for the boring procession of cars in the so-called “race” from Monaco, we appreciated the British driver George Russell expressing the sentiment that the race should be scrapped. Instead, running a Qualifying Session on Saturday along with another on Sunday, awarding points on the times achieved, would offer more entertainment than the “race”. After years and years of watching Formula1, it’s impossible to disagree with such a concept as the Saturday qualifying is always the best bit, famously once spoiled by Michael Schumacher ‘accidentally crashing’ to inhibit other competitors from beating his time.
Since the start of April, the FTSE has been doing processional driving, manoeuvring on an imaginary track 400 points wide and like Monaco, providing very little in the way of entertainment!
For the future, we’re inclined to anticipate the worst because this is the FTSE, an index always ready to disappoint both participants and spectators. At present, there’s a threat weakness below 10,238 points shall trigger reversal to a tame near term 10,203 points and perhaps a bounce. However, a break of 10,203 points could signal trouble, powering reversal to 10,080 points with our Big Picture secondary coming in at a hopeful ‘bottom’ of 9.833 points. To indulge a bout of hysteria, this could easily prove to be the start of a proper market “correction”, probably to be blamed on AI optimism collapsing. As a result, the Big Picture gives the potential of a “real” bottom working out at a ridiculous looking 8,840 points…
Of course, there’s always a “however” and in the case of the FTSE, it may come from the strength of Wall Street, an index which has been achieving “higher highs” every few days recently. Perhaps some of this optimism from the American market shall spill across the pond to infect gullible folk in the UK. To be fair, we’ve been expecting a visit to 10,200 for a while and the fact the UK index has avoiding impaling itself at such a level maybe indicates some well hidden strength.
Should this indeed be the case, we can throw some near term numbers into the frame as above just 10,378 points should apparently trigger movement to an initial 10,470 points with our longer term secondary, if beaten, at 10,582 points. While this would initially suggest the index is once again swerving across its 400 point wide track, but this time, opening the door for a 3rd level target if the secondary is exceeded, an impressive 11,153 points and another new all time high.
We can hope the UK market intends follow the US example. Perhaps the US leader shall avoid playing with big fireworks until their countries 4th July celebration of 250 years of independence, as the entire nation continues to kiss the ground, praising the fact they are immune from incompetent UK politicians.
Have a good weekend, hopefully without a climate similar to our Scottish weather. Our garden waterfall is currently in full flow and it’s not snow melt but instead, due to heavy, very heavy, rain. My wife phoned at 4pm, saying she’d pulled over on the drive home as it was impossible to move safely in a rainstorm. It was true, the other side of the loch completely obscured in a rain cloud just 2 miles away. But I was in the garden, in sunshine, once again reinforcing the perimeter cable for the lawn robot. It seems 5cm is the optimum underground level to bury it, an easy job to 3d print a special tool to feed the cable the correct depth. This perimeter cable has rapidly become hated, the source of properly sore backs. But the little robot remains the leading contender to replace the little red tractor.
FUTURES
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 11:28:36PM | BRENT | 9446.7 | Success | ||||||||
| 11:30:38PM | GOLD | 4457.1 | ‘cess | ||||||||
| 11:17:51PM | FTSE | 10341 | 10237 | 10165 | 10087 | 10308 | 10400 | 10426 | 10461 | 10315 | Shambles |
| 11:19:48PM | STOX50 | 6077 | ‘cess | ||||||||
| 11:21:45PM | GERMANY | 24809.2 | |||||||||
| 11:23:48PM | US500 | 7542.4 | Shambles | ||||||||
| 11:26:11PM | DOW | 51556.3 | Success | ||||||||
| 11:29:14PM | NASDAQ | 30014.8 | 29994 | 29971 | 29709 | 30106 | 30084 | 30544 | 30725 | 29995 | Success |
| 11:32:17PM | JAPAN | 65993 | 65861 | 65723 | 64716 | 66159 | 67668 | 68358 | 69190 | 67433 | Shambles |
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:BME B & M** **LSE:EMG MAN** **LSE:OXIG Oxford Instruments** **LSE:RKH Rockhopper** **LSE:TSCO Tesco** **
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Updated charts published on : B & M, MAN, Oxford Instruments, Rockhopper, Tesco,
LSE:BME B & M. Close Mid-Price: 208.2 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Target met. In the event of B & M enjoying further trades beyond 214.6p, ……..
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View Previous B & M & Big Picture ***
LSE:EMG MAN. Close Mid-Price: 294.8 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Target met. In the event of MAN enjoying further trades beyond 295p, the ……..
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View Previous MAN & Big Picture ***
LSE:OXIG Oxford Instruments. Close Mid-Price: 3218 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Further movement against Oxford Instruments ABOVE 3316p should improve ac ……..
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View Previous Oxford Instruments & Big Picture ***
LSE:RKH Rockhopper. Close Mid-Price: 74.2 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Weakness on Rockhopper below 72.1p will invariably lead to 68p with secon ……..
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View Previous Rockhopper & Big Picture ***
LSE:TSCO Tesco. Close Mid-Price: 448.2 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Continued weakness against TSCO taking the price below 440.8 calculates a ……..
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View Previous Tesco & Big Picture ***