#FTSE for Monday #Brent #Dax According to the media, the UK is poised to kick open the gates of hell anytime soon. As a result, there are supposed to be some “short” opportunities for the index, along with Sterling too. While we should warn the markets rarely do “obvious”, we’ve been whinging about parity for Sterling for ages and a bottom of 6640 on the FTSE.
The drop last week which achieved 6670 was certainly pretty close to our ambition but we’re not convinced we’ve witnessed “Sell on the Rumour” completed properly. After all, the next phase is supposed to be “Buy on the Fact” in a falling market. (The exact converse is true, when optimism is driving a rise – Buy on the Rumour, Sell on the Fact)
Certainly, recent months have seen “The Rumour” manifest as Project Fear, a deliberate campaign to sew terror ahead of Brexit. The situation now risks weakness below 6670 driving the FTSE down to 6580 next. If broken, secondary is at 6502 where some sort of bounce is expected.
On a slightly more positive vein, above 6884 points will give an early indication the recent visit to 6670 was sufficiently close to our postulated bottom. This should justify movement to 6957 initially, along with a probable stutter. If bettered, secondary calculates at 7094 points.
Finally, sorry we missed our “FTSE for FRIDAY”. We had a Xmas night out, one followed by the return ferry cancelled the next morning due to foul weather!
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
9:59:27PM |
BRENT |
61.37 |
58.63 |
56.68 |
53.6 |
62 |
62.48 |
63.795 |
65.58 |
60.47 |
|
|
10:03:04PM |
GOLD |
1248.93 |
|||||||||
|
10:05:58PM |
FTSE |
6763 |
|||||||||
|
10:09:36PM |
FRANCE |
4792.7 |
|||||||||
|
10:12:01PM |
GERMANY |
10718.6 |
10670 |
10457 |
10336 |
10933 |
10951 |
11049.5 |
11173 |
10755 |
|
|
10:21:44PM |
US500 |
2635.57 |
|||||||||
|
10:29:57PM |
DOW |
24402 |
|||||||||
|
10:31:51PM |
NASDAQ |
6625 |
|||||||||
|
10:33:12PM |
JAPAN |
21331 |
7/12/2018 FTSE Closed at 6778 points. Change of -2.07%. Total value traded through LSE was: £ 7,323,127,201 a change of 5.12%
5/12/2018 FTSE Closed at 6921 points. Change of -1.44%. Total value traded through LSE was: £ 6,966,600,933 a change of -11.83%
4/12/2018 FTSE Closed at 7022 points. Change of -0.57%. Total value traded through LSE was: £ 7,901,119,671 a change of 9.83%
3/12/2018 FTSE Closed at 7062 points. Change of 1.17%. Total value traded through LSE was: £ 7,194,186,755 a change of -22.49%
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%