Trends and Targets for 10/12/2018

#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!

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

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%

 

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