Trends and Targets for 21/12/2018

FTSE FRIDAY & The AIM #Gold #Brent #DOW The AIM market ‘had’ been behaving with a degree of integrity, despite the #FTSE being as certain about its trend as a politician’s thoughts on Brexit. Alas, since September this has changed for the AIM, though it appears fairly confident where it hopefully shall bottom.

At present, the AIM is trading around the 850 mark with further weakness below 847 looking capable of reaching a bottom at 798, a point where some sort of bounce will make sense. There is certainly a major problem should 798 points break as it risks a cycle which hopefully will end at 625 at bottom.

Such has been the rate of managed decline, the index requires above just 900 to indicate this phase of misery is complete, allowing recovery to an initial 933. If exceeded, secondary is at 1030 but visually, we suspect it shall become stuck around the 933 point for a while due to prior highs.

For now, while further reversal looks possible, we hope 798 proves to be bottom.

Chart goes here

Chart goes here

As for the FTSE for FRIDAY, we’re not entirely sure what to make of it. FTSE futures experienced a day low of 6630, a number we’ve been banging on about since May. The lowest the FTSE itself achieved was 6646 but unfortunately, we suspect the real index will express a need to hit 6630 points.

Though the market closed Thursday at 6717 points, it now looks like the FTSE risks a visit to 6630, along with some sort of bounce. If risking a long, stop can be fairly tight at 6618 points. On the assumption the market remains in a downtrend, any bounce target looks like 6675 points at best. Secondary does calculate at a subsequent 6870 points!

The real danger comes, should 6617 break. Our secondary calculates at 6521 points. If taking the foregoing as gospel and choosing to enter a short anytime now, the tightest stop is at 6792 points. In addition, we’ve shown “bottom” as expected eventually on the current cycle. We fear any near term Santa Rally shall assume the characteristics of a dead parrot bouncing.

As always, please remember we are discussing the FTSE itself, during trading hours.

 

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

9:49:11PM

BRENT

54.94

54.45

53.59

53.13

56.7

58.07

58.905

60.39

55.8

‘cess

9:51:19PM

GOLD

1260.33

1243.8

1240

1231

1253

1264

1269

1273

1253

Success

10:01:44PM

FTSE

6711.35

10:05:05PM

FRANCE

4663.2

‘cess

10:09:00PM

GERMANY

10608

Success

10:11:22PM

US500

2487.07

‘cess

10:15:04PM

DOW

23031.6

22624

23387.25

21267

23410

23393

23587

23908

23030

‘cess

10:16:47PM

NASDAQ

6303.99

10:19:06PM

JAPAN

20422

Success

 

20/12/2018 FTSE Closed at 6711 points. Change of -0.8%. Total value traded through LSE was: £ 7,550,652,276 a change of -2.81%
19/12/2018 FTSE Closed at 6765 points. Change of 0.96%. Total value traded through LSE was: £ 7,769,260,633 a change of 9.94%
18/12/2018 FTSE Closed at 6701 points. Change of -1.06%. Total value traded through LSE was: £ 7,066,966,303 a change of 7.38%
17/12/2018 FTSE Closed at 6773 points. Change of -1.05%. Total value traded through LSE was: £ 6,581,217,772 a change of 14.58%
14/12/2018 FTSE Closed at 6845 points. Change of -0.47%. Total value traded through LSE was: £ 5,743,743,657 a change of -6.27%
13/12/2018 FTSE Closed at 6877 points. Change of -0.04%. Total value traded through LSE was: £ 6,127,869,664 a change of -22.92%
12/12/2018 FTSE Closed at 6880 points. Change of 1.09%. Total value traded through LSE was: £ 7,949,668,067 a change of 8.64%

 

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