Trends and Targets for 24/09/2018

The #DOW Big Picture #BRENT #DAX Nowhere is the devastation caused by US President Trump more evident than the pitiful state of the Dow Jones, the S&P 500 or the Nasdaq. Together these three index’ highlight a tragic lack of confidence in the US economy as they languish at levels never seen before.

Except for one tiny little detail.

If confidence is measured by a stock market reaching levels never seen before, all three barometers of the USA marketplace tend suggest a media which somehow turns everything into “Trump-Bad” is also a media talking absolute rubbish. Of course, we see similar behaviour in the UK where the press attempts to monster anything which fails meet their desired narrative. As a result, we often ignore headlines, quite forgetting the media can prove correct once in a while. But history tells us the UK press eventually came around to the idea Hitler was not a terribly nice person…

On the DOW JONES, the RED line on the chart currently indicates the US market requires fall below 19,000 points (RED) before it breaks the uptrend formed since 2009. To be honest, we’d tend panic if the market slipped below 20,400 points as this would rather firmly imply some true weakness was settling in place.

More likely, it now appears growth bettering 26,770 shall feel justified in challenging 27,385 points. And if bettered, an attempt at 28,000 looks pretty confident eventually. Some turbulence is expected at the 28,000 level, if only to generate sufficient force for longer term travel even higher.

For now, there’s rather more to like than dislike about the DOW’s future prospects.

Chart goes here

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

10:30:47PM

BRENT

78.25

77.79

77.35

76.57

78.93

79.69

80.505

81.64

78.13

Shambles

10:32:54PM

GOLD

1199.51

Success

10:35:31PM

FTSE

7473.73

Success

10:39:08PM

FRANCE

5486.2

‘cess

10:41:51PM

GERMANY

12402

12354

12322

12276

12432

12460

12511.5

12729

12354

Success

10:44:04PM

US500

2927

10:47:43PM

DOW

26715.7

10:49:59PM

NASDAQ

7520.12

‘cess

10:52:43PM

JAPAN

23868

‘cess

21/09/2018 FTSE Closed at 7490 points. Change of 1.67%. Total value traded through LSE was: £ 12,602,342,861 a change of 73.74%
20/09/2018 FTSE Closed at 7367 points. Change of 0.49%. Total value traded through LSE was: £ 7,253,507,644 a change of 10.48%
19/09/2018 FTSE Closed at 7331 points. Change of 0.42%. Total value traded through LSE was: £ 6,565,643,949 a change of 4.96%
18/09/2018 FTSE Closed at 7300 points. Change of -0.03%. Total value traded through LSE was: £ 6,255,155,740 a change of -9.72%
17/09/2018 FTSE Closed at 7302 points. Change of -0.03%. Total value traded through LSE was: £ 6,928,775,046 a change of -9.93%
14/09/2018 FTSE Closed at 7304 points. Change of 0.32%. Total value traded through LSE was: £ 7,692,584,165 a change of -0.13%
13/09/2018 FTSE Closed at 7281 points. Change of -0.44%. Total value traded through LSE was: £ 7,702,800,654 a change of -12.29%

 

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