The #DOW JONES (DOWi:DJI) When is a trend still a trend? This is one of these daft notions which sometimes appear against index’ and share movements, when we see prices moving below a pretty firmly established trend line. Usually we find ourselves sneaking a chart inset into the picture as we attempt figure out what the heck is going on.
The insets on the DOW big picture chart below are fairly important, showing closing prices and intraday traffic during the most recent 5 sessions. Quite clearly, the RED uptrend since 2016 has been broken during the trading session BUT crucially, the market did not permit the index to actually close below RED.
Our inclination, with this sort of caper, is to utterly distrust any drop unless the price makes it below the lowest most recent break. In this case, below 23997 is liable to prove pretty serious, moving the DOW JONES firmly into a region where 23362 awaits initially. We would tend anticipate a bounce at such a level but warn, if 23362 breaks, it’s entirely possible to introduce continued weakness to 22764 points.
In the event this caper triggers (a pretty large 1200 point scenario) stop can reside at 24450 points.
As always, we’ve a “however”.
What if the market is dangling this drop like bait, hoping to entice short positions now? The concept is not unheard of and it must be remembered the market is in business to make money. Unfortunately the only reliable sign any near term miracle recovery is genuine shall be growth above 24500 bringing an initial 24812. If bettered, we shall assume bottom is “in” and expect continued recovery to 25315.
For now, we’re fairly relaxed at the prospect of some reversals. To keep everything in perspective, a thick RED line adorns the bottom of the chart. The DOW would require breaking below 19,000 points to trash the uptrend since 2009 and frankly cause utter panic.
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
|
10:04:51PM |
BRENT |
78.09 |
||||||||||
|
10:19:52PM |
GOLD |
1257.5 |
‘cess |
|||||||||
|
10:24:40PM |
FTSE |
7582 |
||||||||||
|
10:26:45PM |
FRANCE |
5325.7 |
||||||||||
|
10:32:31PM |
GERMANY |
12340 |
12280 |
12221 |
12151 |
12352 |
12330 |
12431 |
12532 |
12280 |
||
|
10:34:08PM |
US500 |
2720.92 |
2710 |
2698 |
2685 |
2723 |
2724 |
2729 |
2736 |
2710 |
||
|
10:36:26PM |
DOW |
24229 |
||||||||||
|
10:38:09PM |
NASDAQ |
7023.12 |
||||||||||
|
10:40:24PM |
JAPAN |
21691 |
4/07/2018 FTSE Closed at 7573 points. Change of -0.26%. Total value traded through LSE was: £ 4,208,633,198 a change of -43%
3/07/2018 FTSE Closed at 7593 points. Change of 0.61%. Total value traded through LSE was: £ 7,383,714,945 a change of 16.1%
2/07/2018 FTSE Closed at 7547 points. Change of -1.17%. Total value traded through LSE was: £ 6,359,923,208 a change of -9.62%
29/06/2018 FTSE Closed at 7636 points. Change of 0.28%. Total value traded through LSE was: £ 7,037,137,894 a change of 9.52%
28/06/2018 FTSE Closed at 7615 points. Change of -0.08%. Total value traded through LSE was: £ 6,425,539,436 a change of -12.36%
27/06/2018 FTSE Closed at 7621 points. Change of 1.11%. Total value traded through LSE was: £ 7,331,631,797 a change of 15.83%
26/06/2018 FTSE Closed at 7537 points. Change of 0.37%. Total value traded through LSE was: £ 6,329,823,692 a change of 4.95%
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
The Arrow icons refer to expected Big Picture direction. No Arrow, No clue!
Click Epic to jump to share: LSE:BDEV Barrett Devs** **LSE:BT.A British Telecom** **LSE:EME Empyrean** **LSE:GENL Genel** **LSE:SBRY Sainsbury** **LSE:TW. Taylor Wimpey** **
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Updated charts published on : Barrett Devs, British Telecom, Empyrean, Genel, Sainsbury, Taylor Wimpey,
LSE:BDEV Barrett Devs Close Mid-Price: 492.9 Percentage Change: -0.80% Day High: 498.4 Day Low: 491.6
2018=12
Target Met. In the event of continued weakness below 491p, we’re looking f ……..
View Previous Barrett Devs & Big Picture ***
LSE:BT.ALSE:BT.A British Telecom. Close Mid-Price: 229 Percentage Change: + 2.69% Day High: 231.5 Day Low: 220.45
2018=18
Movement now exceeding 232 allows for 236 as the next point of interest. ……..
View Previous British Telecom & Big Picture ***
LSE:EME Empyrean Close Mid-Price: 8.45 Percentage Change: -0.88% Day High: 8.53 Day Low: 8.12
2017=17
Weakness below 8.1 should bring 7.5 and a bounce – ideally. Secondary, if ……..
View Previous Empyrean & Big Picture ***
LSE:GENL Genel Close Mid-Price: 252.5 Percentage Change: -3.44% Day High: 261.5 Day Low: 249
2018=10
This is still feeling dodgy as below 249 indicates 230 next with secondary ……..
View Previous Genel & Big Picture ***
LSE:SBRYLSE:SBRY Sainsbury. Close Mid-Price: 328 Percentage Change: + 2.95% Day High: 329.5 Day Low: 319
2018=23
Target Met. Price growth continuing beyond 330 indicates travel toward 342 ……..
View Previous Sainsbury & Big Picture ***
LSE:TW. Taylor Wimpey Close Mid-Price: 173.95 Percentage Change: -0.54% Day High: 174.9 Day Low: 173.5
2018=23
Target Met. Continued weakness below 173.5 suggests 171 as a level where a ……..
View Previous Taylor Wimpey & Big Picture ***
*** End of “Updated Today” comments on shares. Listed below are those where commentary remains valid.
Click Epic to jump to share:LSE:AFC AFC Energy** **LSE:AGM Applied Graph.** **LSE:AMER Amerisur** **LSE:ASC Asos** **LSE:AV. Aviva** **LSE:BARC Barclays** **LSE:BBY BALFOUR BEATTY** **LSE:BLVN Bowleven** **LSE:BP. BP PLC** **LSE:BPC Bahamas Pet** **LSE:CAR Carclo** **LSE:CASP Caspian** **LSE:CBUY Cloudbuy** **LSE:CEY Centamin** **LSE:CPI Capita** **LSE:DGE Diageo** **LSE:EMG MAN** **LSE:EZJ EasyJet** **LSE:FGP Firstgroup** **LSE:FOXT Foxtons** **LSE:FRES Fresnillo** **LSE:GKP Gulf Keystone** **LSE:GLEN Glencore Xstra** **LSE:HIK Hikma** **LSE:HL. Hargreaves Lansdown** **LSE:HSBA HSBC** **LSE:HUR Hurrican Energy** **LSE:IAG British Airways** **LSE:IGAS Igas Energy** **LSE:IGG IG Group** **LSE:IHG Intercontinental Hotels Group** **LSE:IPF International Personal Finance** **LSE:IQE IQE** **LSE:ITV ITV** **LSE:KAZ Kaz Minerals** **LSE:LLOY Lloyds Grp.** **LSE:LMI LonMin** **LSE:MKS Marks and Spencer** **LSE:MOS Mobile Streams** **LSE:NG. National Glug** **LSE:NIPT Premaltha** **LSE:OPG OPG Power Ventures** **LSE:OXIG Oxford Instruments** **LSE:PMG Parkmead** **LSE:PMO Premier** **LSE:POG Petrop etc** **LSE:POL Polo Resources** **LSE:POLY Polymetal** **LSE:PPC President Energy** **LSE:QFI Quadrise** **LSE:RBS Royal Bank Scot** **LSE:RED REDT** **LSE:RKH Rockhopper** **LSE:RMG Royal Male** **LSE:RR. Rolls Royce** **LSE:RTHM Rythm One** **LSE:SCLP Scancell** **LSE:SDY Speedyhire** **LSE:SHP Shire** **LSE:STAN Standard Chartered** **LSE:SUMM Summit** **LSE:SXX Sirius Mins** **LSE:TAN Tanfield** **LSE:TCG Thomas Cook Group** **LSE:TLW Tullow** **LSE:TSCO Tesco** **LSE:UKOG UK Oils and Gas** **LSE:VEC Vectura** **LSE:VED Vedanta** **LSE:VOD Vodafone** **LSE:VOG VICTORIA** **LSE:WTG Watchstone** **LSE:ZOL Zoldav** **
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Many thanks for taking the time to read this and good luck for today. Please feel free to mention us after something goes right!
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