#FTSE #Gold While counting down the hours until the Belgian Grand Prix, some articles about the London stock exchange provided some worthwhile reading. We’ve been moaning for some time about how the FTSE often makes little sense, then a horrible statistic about the current state of the London Exchange hit home. In the last three years, foreign takeovers and large companies fleeing from their primary listing in London has seen a capital value of £285bn leave London. But on the bright side, there have been a few IPO’s which collectively have brought in £6bn.
Internationally, many UK shares are apparently regarded as “cheap” when compared to similar company valuations in domestic exchanges in the USA. Hence circling predators while UK Politicians and Regulators bravely defend the London Stock Exchange by doing absolutely nothing. The incoming Prime Minister has been silent on stock exchange issues and we’ve real concerns if one of the Net Zero cult becomes our next chancellor.
However, the better news came from Thursdays movements on the FTSE, the index ending the session in a position which suggests optimism. Hopefully events in the Middle East don’t introduce an excuse for the FTSE to ruin our near term outlook. From the point at which the market closed, movement above 10,573 has the potential to trigger gains to an initial 10,992 points with our secondary, if exceeded, calculating at 10,640 points.
While these ambitions for gains are relatively modest, above 10,640 is liable to prove instructive, potentially moving the index into a cycle where a long term 11,134 becomes viable.
Our alternative scenario, on the basis the FTSE decides self immolation, suggests weakness below 10,447 points risks triggering reversal to an initial 10,336 points with our secondary, if broken, at 10,203 points. Below such a level will require a good shake of the tea leaves as the FTSE unfortunately, despite the immediate pressures heading upward, is starting to develop more reversal potentials than an Italian tank.
Have a good weekend, probably another Factor 50 one.
FUTURES
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:54:24PM | BRENT | 8466.1 | 8324 | 8216 | 8565 | 8596 | 8663 | 8411 | |||
| 9:59:24PM | GOLD | 3975.21 | 3969 | 3949 | 4007 | 4043 | 4071 | 3089 | Success | ||
| 10:03:39PM | FTSE | 10565 | 10440 | 10389 | 10499 | 10581 | 10591 | 10558 | ‘cess | ||
| 10:10:59PM | STOX50 | 6250.2 | 6202 | 6176 | 6242 | 6295 | 6329 | 6254 | Success | ||
| 10:14:01PM | GERMANY | 24852.7 | 24690 | 24591 | 24836 | 24948 | 25009 | 24862 | ‘cess | ||
| 11:22:11PM | US500 | 7525.3 | 7524 | 7510 | 7544 | 7570 | 7598 | 7540 | Shambles | ||
| 11:32:01PM | DOW | 52515.5 | 52369 | 52323 | 52556 | 52863 | 53031 | 52618 | |||
| 11:35:05PM | NASDAQ | 28949.2 | 28885 | 28842 | 29031 | 29608 | 29877 | 29390 | ‘cess | ||
| 11:49:45PM | JAPAN | 65700 | 65617 | 65483 | 65970 | 67824 | 68717 | 67440 |
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:FOXT Foxtons** **LSE:FRES Fresnillo** **LSE:OCDO Ocado Plc** **LSE:SBRY Sainsbury** **LSE:ZOO Zoo Digital** **
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Updated charts published on : Foxtons, Fresnillo, Ocado Plc, Sainsbury, Zoo Digital,
LSE:FOXT Foxtons. Close Mid-Price: 39.5 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Target met. If the share price of Foxtons manages to move BELOW 31.7, ini ……..
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View Previous Foxtons & Big Picture ***
LSE:FRES Fresnillo. Close Mid-Price: 2455 Percentage Change: + 0.00% Day High: 0 Day Low: 0
In the event of FRES share price managing to break below 2426 (obviously, ……..
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View Previous Fresnillo & Big Picture ***
LSE:OCDO Ocado Plc. Close Mid-Price: 159.2 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Target met. Managing to get the share price BELOW 140.3 is the next probl ……..
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View Previous Ocado Plc & Big Picture ***
LSE:SBRY Sainsbury. Close Mid-Price: 353.6 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Target met. If the price of Sainsbury manages to move ABOVE 354.4, initia ……..
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View Previous Sainsbury & Big Picture ***
LSE:ZOO Zoo Digital. Close Mid-Price: 9.75 Percentage Change: + 0.00% Day High: 0 Day Low: 0
Managing to get the share price BELOW 9.25 is the next problem level for ……..
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View Previous Zoo Digital & Big Picture ***