Trends and Targets for 2/11/2018

FTSE FOR FRIDAY #GOLD #BRENT Our fascination with Google Stats remains. The UK, US, and Spain remain at the top of our #FTSE Friday “hits” but just a little further down the listings, visitors from Reunion Island remain comfortably above Singapore and Australia. Quirky but nice!

As for the FTSE’s near term prospects, it closed Thursday at 7114 points, despite describing a new low for the day in the closing minute. The miracle bounce from bottom bothers us a little, now suggesting weakness below 7081 points should trigger some reversals to an initial 7049 points. If broken, secondary is at 7010 points.

 

Surprisingly, the underlying pressure on the FTSE at present is currently upward with above 7163 points apparently promising travel to an utterly useless near term 7178 points. If exceeded, secondary is a more interesting 7204 points.

It has probably not escaped anyones notice the markets have been all over the place for the most recent three weeks. If our foregoing drop scenario triggers, the tightest stop is painfully with at 7163 points. Equally, if our upward scenario triggers, the tightest stop appears to be 7090 points. This problem occurs, thanks to the market habitually using wide ranges before movements to conceal the reality of not much happening.

 

From a bigger picture perspective, there are quite a few dangerous signals, all mostly expecting the market to bottom somewhere in the 6,600’s eventually, despite any near term positive actions.

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

10:14:43PM

BRENT

72.75

72.48

72.06

71.22

75

75

76.03

77.2

73.96

Success

10:17:02PM

GOLD

1234.12

1227

1224

1221

1235

1237.4

1241

1249

1227

Success

10:18:52PM

FTSE

7111.9

Shambles

10:26:04PM

FRANCE

5092

‘cess

10:28:48PM

GERMANY

11461

‘cess

10:30:33PM

US500

2726.42

10:33:24PM

DOW

25272

‘cess

10:35:23PM

NASDAQ

6992.25

‘cess

10:37:12PM

JAPAN

21688

1/11/2018 FTSE Closed at 7114 points. Change of -0.2%. Total value traded through LSE was: £ 8,423,507,721 a change of -6.44%
31/10/2018 FTSE Closed at 7128 points. Change of 1.32%. Total value traded through LSE was: £ 9,003,178,238 a change of 33.39%
30/10/2018 FTSE Closed at 7035 points. Change of 0.13%. Total value traded through LSE was: £ 6,749,504,643 a change of -3.13%
29/10/2018 FTSE Closed at 7026 points. Change of 1.25%. Total value traded through LSE was: £ 6,967,500,678 a change of 19.11%
26/10/2018 FTSE Closed at 6939 points. Change of -0.93%. Total value traded through LSE was: £ 5,849,417,776 a change of -20.24%
25/10/2018 FTSE Closed at 7004 points. Change of 0.6%. Total value traded through LSE was: £ 7,333,860,753 a change of 6.42%
24/10/2018 FTSE Closed at 6962 points. Change of 0.1%. Total value traded through LSE was: £ 6,891,267,887 a change of -25.51%

 

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