France, the CAC40 The French initiative of raising fuel prices to get more cars off the road seemed to work. Paris looked quite entrancing, burning cars and red smoke giving the city an unusually poisonous festive glow, only lacking the occasional guillotine silhouette to complete the picture. One can only hope the UK Govt are considering the disparity between petrol and diesel prices and asking questions. (clue; nope)
Unlike fans of their government, the French stock market is now experiencing some hesitant behaviour with the potential of some relaxation rearing its head.
At present, the index is trading around 5020 points, needing below 4890 to signal coming trouble. In such an event, we’re looking at relaxation potentials to an initial 4730 points. Secondary, when broken, calculates at 4425 points. The problem with the secondary is fairly obvious. By moving below the uptrend since 2011, the French index enters a region with a logical bottom around 3870 points, visually matching the lows of 2016.
Obviously, with such a massive haul of points potentially available, where does any stop loss need be, if playing ‘La Grande Image?’
We would hope the market needs above 5166 points to cancel the drop potential but realistically, we’d prefer wider at 5205 points.
Movement above 5205 is supposed to enter a miracle recovery cycle to an initial 5362 points. If bettered, secondary is at 5430.
Visually, similar to the Paris skyline, we are not hopeful for the future…
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
10:04:00PM |
BRENT |
59.17 |
57.71 |
56.785 |
55.57 |
60 |
60.43 |
61.075 |
62.1 |
58.86 |
|
|
10:06:08PM |
GOLD |
1222.55 |
|||||||||
|
10:08:06PM |
FTSE |
7014.27 |
Success |
||||||||
|
10:09:57PM |
FRANCE |
5023.7 |
‘cess |
||||||||
|
10:14:00PM |
GERMANY |
11327 |
11206 |
11184 |
11105 |
11299 |
11356 |
11396.5 |
11460 |
11206 |
‘cess |
|
10:15:59PM |
US500 |
2761.42 |
‘cess |
||||||||
|
10:19:07PM |
DOW |
25561.6 |
‘cess |
||||||||
|
10:21:24PM |
NASDAQ |
6955.42 |
|||||||||
|
10:23:33PM |
JAPAN |
22401 |
30/11/2018 FTSE Closed at 6980 points. Change of -0.82%. Total value traded through LSE was: £ 9,281,193,872 a change of 48.56%
29/11/2018 FTSE Closed at 7038 points. Change of 0.49%. Total value traded through LSE was: £ 6,247,553,227 a change of -6.66%
28/11/2018 FTSE Closed at 7004 points. Change of -0.17%. Total value traded through LSE was: £ 6,693,191,726 a change of 0.55%
27/11/2018 FTSE Closed at 7016 points. Change of -0.28%. Total value traded through LSE was: £ 6,656,422,147 a change of 7.11%
26/11/2018 FTSE Closed at 7036 points. Change of 1.21%. Total value traded through LSE was: £ 6,214,567,261 a change of 9.15%
23/11/2018 FTSE Closed at 6952 points. Change of -0.11%. Total value traded through LSE was: £ 5,693,802,870 a change of 14.9%
22/11/2018 FTSE Closed at 6960 points. Change of -1.28%. Total value traded through LSE was: £ 4,955,552,267 a change of -31%